Assuming you are a qualified buyer with good credit, verifiable income & assets and... if you are going for a 30 year fixed mortgage, based on today's rates you would be paying $5.22 per thousand you borrow (4.75% 30 year fixed mortgage). Hence, if you want you mortgage payment to be less than $2,000 per month, the most you would be able to borrow would be $383,000.00. If you add your down payment onto that, you will have your maximum purchase price. Keep in mind that you will also have to pay the monthly common charges for the condo along with real estate taxes, insurance and your utility bills.
Given that you are looking in Bay Ridge or Bensonhurst, right now there are four 2-bedroom condos with parking listed on the Brooklyn New York Multiple Listing Service. They range in asking price from $449,000 up to $659,000. If you could live without the parking space you would have a 14 additional 2 bedroom condos you could look at.
The most important first step is for you to go and get yourself pre-qualified for the mortgage and then go looking at these condos to see if one or more of them would appeal to you. If you need assistance with any of that, feel free to contact me direct as I can help you. Either way, good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales/ e-Pro Realtor
Fillmore Real Estate
Office: (718) 252-2000/ Cell: (917) 805-0783