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Holbrook : Real Estate Advice

  • All19
  • Local Info1
  • Home Buying6
  • Home Selling2
  • Market Conditions2

Activity 16
Sun Jan 22, 2017
Louise Wild answered:
What did you wind up doing with it?
0 votes 1 answer Share Flag
Sun Dec 14, 2014
Larry McKenna answered:
In my local area right now the difference from the asking price to the sales price is 5.2%. With that in mind you can adjust your 1st offer. Remember if this is a home you would really like to own, make sure your first offer is a smart one. ... more
0 votes 14 answers Share Flag
Sun Jun 1, 2014
Anna M Brocco answered:
According to MLS the referenced property is for sale only and not for rent. Be mindful that short term rentals are harder to come by, most owners prefer a long term lease; however you can check www.mlsli.com for available are properties, or consider working with an agent of your own... ... more
0 votes 1 answer Share Flag
Mon Apr 28, 2014
Mcart78 asked:
Tue Feb 18, 2014
Asedd34 answered:
None.......You just go to a bank and borrow more than you can afford,move in,don't pay a cent,live for free for about year,short sale,move on! Its the long island way!
0 votes 7 answers Share Flag
Sat Feb 8, 2014
answered:
It would be best for you to meet a mortgage consultant at the bank of your choice or a mortgage broker who will have access to many bank's loan programs and rates. At this meeting bring the following at a minimum:

1. Current one month paystubs.
2. Two year W-2's and complete Tax returns.
3. Current Two month bank statements/retirement account statements/brokerage account statements.

Let the professional pull you credit report and give you a mortgage pre approval letter. Once you have this you can confidently make offers on houses you like.

If you need to discuss my contact information is given below.

Thanks

Sanjeev Ahuja, NMLS #148731
Mortgage Broker
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Phone 917-517-2552
NYS Registered Mortgage Broker, Dept of Financial Services, Loans arranged through third parties (NMLS # 885573)
... more
0 votes 9 answers Share Flag
Sun Mar 24, 2013
Javier Meneses answered:
Ok, a few things. I assume you mean that you're looking to cash out on the condo's equity enough to have a 10% down payment for the new purchase? Are you also saying that you'll have to pay PMI on both the new purchase and the condo? Why exactly must you refinance the condo in order to qualify for the new purchase? Which one will you be using as your primary residence? Much more information is needed.

I'm not sure how ANY lender could say that they have the ability to do both loans for you, this is not true. First, one of the two must be your primary and the other an investment or second home. In either case, I can tell you for a fact that you'll need to have way more than just 10% equity on the one you'll hold as an investment property. Paying PMI on both is simply not an option.

Also, what is the likelihood that the value of your condo has increased enough in the past 2 years, so that it lends itself to refinancing?

I also would like to say that I strongly suggest you NOT consider what we call lender paid mortgage insurance. This is never a smart option over paying PMI. The fact is that lenders who offer loans without needing PMI simply offer those loans with higher interest rates to cover the cost of the mortgage insurance they'll pay for, which is why it's called lender paid MI (LPMI). The difference is that when you pay PMI, it's a temporary thing, but when a lender charges a higher rate to absorb the LPMI, it's a temporary expense for the bank, but a higher rate for you that lasts the entire life of the loan.

I really suggest you find a reliable Loan Officer who can truly guide you up the right path. I'm always available if you need someone. Good luck!

If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648
... more
1 vote 2 answers Share Flag
Tue Mar 5, 2013
Mary answered:
if apt is more than 40% of the other living space it is not going to qualify for a permit
0 votes 6 answers Share Flag
Mon Oct 29, 2012
Anna M Brocco answered:
For accurate information it's in your best interest to directly check with the town....
0 votes 1 answer Share Flag
Thu Sep 27, 2012
answered:
Good afternoon Victor,

PayPal is not recognized as a regular bank account. PayPal is a payment method and is linke to a traditional bank account. We would want to verify the traditional bank account.

But there is another issue here: using funds from a business account. There are restrictions on using funds from your business account. In general we Lenders prefer to see your funds saved up in a personal bank account.

My recommendation is to sit down face to face with a Mortgage Banker and get thoroughly prequalified based on your total financial picture: Income, Assets, and Credit.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
... more
0 votes 7 answers Share Flag
Sun Aug 14, 2011
Christina Macuska answered:
If the house is in Brookhaven, there will be a rental permit on file with the town
0 votes 3 answers Share Flag
Fri May 27, 2011
Kelvi Cunningham answered:
Where are you located? City and State? I can help you with finding your local city website and the phone number to the code department that can give you this information. If you would like to do this research on your own, just Google or Bing for your city's official website and find the city offices page to find the contact information for the code department. You can do this by using search words that look like, City of (insert city name here). This web address is usually a .gov site. ... more
0 votes 3 answers Share Flag
Mon Jun 8, 2009
Chris Conway answered:
Carole1-

Our sales data is compiled from public records at local assessor, tax, and recorder offices.

Regards-

Chris @ Trulia
0 votes 2 answers Share Flag
Fri Feb 27, 2009
Anna M Brocco answered:
You must be looking/calling at the wrong places/people. I will be happy to give you a presentation regardless residential or commercial property; I will go through all the marketing steps that will be done in order to get you top dollar-- a job well done is what you can expect from me.

Anna
917-576-5376
... more
0 votes 9 answers Share Flag
Tue Jan 27, 2009
Jaishree Zilpelwar answered:
Realty Trac will have the Pre-Forclosure listings, but it does not mean it's for sale, many times it's just showing how much loan is outstanding for Lis Pendense only. If you like to see homes in the area I will be happy to help you. MLS (Multiple Listing Service) website is accurate to find Homes For Sale.
Jane Zilpelwar
631-889-2997
jzilpelwar@yahoo.com
... more
0 votes 3 answers Share Flag
Thu May 15, 2008
J R answered:
BEST ANSWER
JR,

Take a look at...
http://www.trulia.com/real_estate/Holbrook-New_York/

... and click on the "Number of Sales" tab. It says that three houses were sold this year. It's this way for any suffolk town I've checked.
~~~~~~~~~~~~~~~~
I just checked Holbrook and MLS shows 45 passed title between Jan 1 and today.
... more
0 votes 7 answers Share Flag
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