I'm a retired real estate broker in Westchester County. You can be pre approved to buy a studio coop BUT every coop requires 10% or more as a down payment + you are required to pay a monthly maintenance fee. The maintenance fee is 50% property taxes & 50% maintenance for the building. I strongly advise you to cut your expenses, save as much money as possible so you will have the 10% down payment + savings to pay for closing costs + 2 months of maintenance payments in savings. If you plan to buy a coop, you will need to fill out an application and be interviewed by the Board. Coop Boards cannot discriminate BUT they want new buyers to be financially stable. This means your net income (after taxes & deductions) is enough to pay for your mortgage + the maintenance fee + utilities + food, transportation, clothes, etc. This is why I advised you to cut your expenses now & save some money.
Another option is I know NYC is very expensive - have you thought about moving to the suburbs? Research Nassau County, Westchester County, New Jersey, etc. Housing is cheaper & you get more space for your dollar.... more
I have 2 bedroom with balcony wth ocean view. High Floor. Need TLC.Trump Village co-op.
Asking price $ 299.000.
Please contact me if you still looking to buy.