Can I buy this house?

Asked by tsunningpoon, Brooklyn, NY Thu May 23, 2013

Hi, I am a first time home buyer wanting to buy this house that is for sale in zip code 10469. It is a B3-2 house (obtained from DOB), but my agent has told me that the seller is using it as a single family house.

The problem is that my loan officer told me that I must buy a single family house in order to only put down 10% down payment (I can only afford to make a 10% down payment).

I am wondering if I can buy this house and get the 90% mortgage loan since the seller is using the house as a single family house.

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Garfield Bull, , Bronx County, NY
Sat Jun 29, 2013
good morning, please call me @ 6464-851-6799 so we can discuss,thank u
0 votes
Garfield Bull, , Bronx County, NY
Sat Jun 29, 2013
good morning, please call me @ 6464-851-6799 so we can discuss,thank u
0 votes
, ,
Fri Jun 28, 2013
Good morning Tsunningpoon,

Seems your Loan Officer is not providing adequate guidance as to available loan programs for which you qualify. Have you discussed the financing option under the FHA loan program? Under FHA guidelines for qualified Borrowers, a 2 Family home can be purchased with as little as 3.5% down payment.

You should discuss this option with your Loan Officer or consider switching to a different Lender.

Under professional standards for our Licenses, we Loan Officers are required to counsel Buyers and provide ALL available loan program options.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services

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0 votes
John Lajara, Agent, Riverdale, NY
Fri May 31, 2013

Since the house is a legal two (even though its being used as a 1) you cannot do 10% because it's not a single family. I have a few single families for sale in 10469 (Allerton, Pelham gardens & Baychester) so maybe I can find you a better situation than this one. Please contact me to discuss further.

John Lajara
REALTOR®/Notary Public
Certified Buyer Representative® (CBR)
Certified Distressed Property Expert® (CDPE) "Saving families from foreclosure"
Cell: 917-848-4655
Fax: 917-522-9638
E-mail Address:
EXIT REALTY SEARCH | 3928 E. Tremont Ave | Bronx | NY | 10465
0 votes
Scott Godzyk, Agent, Manchester, NH
Sat May 25, 2013
It does not always matter how it is being used, but what it states not only in the deed but on the tax card. Go back to your loan officer and have them outline this for you. Your agent should be guiding you as well
0 votes
Garfield Bull, , Bronx County, NY
Sat May 25, 2013
yes, please call me @ 646-851-6799 to discuss thank u
0 votes
Anna M Brocco, Agent, Williston Park, NY
Fri May 24, 2013
It appears that your loan officer already provided you with an answer....
0 votes
Edwin Garcia, , Bronx, NY
Thu May 23, 2013
no you can't buy this house as a one family because it is a legal two and all mortgages for the exception of cash purchases are subject to a bank appraisal. you be better off just buying a one family house.
0 votes
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