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Home Buying in 11212 : Real Estate Advice

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  • Local Info3
  • Home Buying8
  • Home Selling0
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Activity 8
Thu Jan 12, 2017
Kathy Burgreen answered:
Down payment assistance has income limits and if you already own property, that may be another restriction. Down payment assistance is designed for first time buyers.
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Sat Jul 25, 2015
Kathy Burgreen answered:
Are you aware of the consequences with rent to own? Rent to own means the landlord/owner will require the regular rent + a monthly premium which is set aside in an escrow account. The escrow account is your savings which will be used for the down payment in 2 years when you purchase the home.
Now the drawbacks - if you don't qualify for a mortgage in 2 yrs. or you don't love the house anymore, or you have a job transfer, unemployment, medical, etc. - guess what - you lose all the extra money that was set aside in the escrow account. The escrow account belongs to the owner/landlord - not you.
You will be much happier & have a safer path if you spend the next 1 - 2 years cutting expenses, saving money & cleaning up your credit. Then apply on your own for a mortgage instead of rent to own.
Finally, it's OK to rent until you qualify to buy your own home.
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Wed Jan 28, 2015
Amanda Davis answered:
Applying for a Zero-Down Mortgage as Low Income Applicant, you should meet with a FHA Loan Officer and determine whether or not you qualify for a special Zero Money Down Loan in your state. Or you can speak to any Real Estate agent and they will help you through the process. Good Luck!

Massada Home Sales
389 Norstrand Ave.
Brooklyn, NY 11216
Phone: 718.658.7200
http://www.massada.com
... more
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Mon Oct 14, 2013
Shelly Lawes answered:
Good morning,

I have apartments in Flatbush and East Flatbush, that I can show you which are suited to your needs.

Please feel free to contact me.

Shelly Lawes
S.lawes@hlresidential.com
860-796-4753
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Sat Mar 26, 2011
Joseph Runfola answered:
It is situated in such a way that folks refer to it as both areas, but I would call it Brownsville. I think it is attractive to renters because of it close proximity to the subway lines, the cultural institutions on Eastern Pkwy, Lincoln Terrace Park, PS 156, and its affordability. ... more
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Fri Oct 29, 2010
Anna M Brocco answered:
You can begin by contacting your local PHA office--Public Housing Authority--regarding their procedures, any paperwork needed, any other information needed, etc.- a knowledgeable case worker can help you get started---see links for additional information.
http://www.nyc.gov/html/nycha/html/section8/lh_app_faqs.shtml
http://www.hud.gov/offices/pih/pha/contacts/states/ny.cfm
http://portal.hud.gov/portal/page/portal/HUD/states/new_york
www.hud.gov
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