Asked by Martylup, 11590 • Wed Jun 4, 2008
My daughter lives in Washington Heights on 163 Street West of Fort Washington Ave. Her lease expires in August on a two bedroom apt that she had been sharing with a roommate. She is a NYC Teaching Fellow with an income this year of $45K.
I was looking to co-purchase an apartment with her. We have always maintained a joint checking and savings account. I would prefer to co-own with right of survivorship rather than gifting her the down payment. Can that work?
We are looking for a one bedroom apt in Washington Heights with a max of $300K.
If rather than co-purchase if we were to gift her a down payment of up to 20% how much of a mortgage /maintenance charge could she qualify for?
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