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Asked by Samtoler1, New York, NY Sun Feb 3, 2013

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Answers

8
Miekeba Jones, Agent, Silver Spring, MD
Sun Feb 3, 2013
Hi Samtoler1, Consult a mortgage lender.
0 votes
Gail Gladsto…, Agent, 11743, NY
Sun Feb 3, 2013
Sam,

Please get in touch with Dominick Sutera of Academy Mortgage Bankers...he trains mortgage loan officers and can fully answer all of your questions.

Call Dominick at 516-249-4800
dsutera@BankAMC.com
0 votes
Jacques Ambr…, Agent, Forest Hills, NY
Sun Feb 3, 2013
It is possible as long as the seller and their attorney agree to it. Just make sure to have a strong pre-approval from a lending institution. Also be aware of PMI which will add to your closing/carrying costs.

Jacques Ambron CRB SFR CBR BPOR
Broker
Madeleine Realty Ltd.
108-23 Ascan Ave
Forest Hills, NY 11375
0 votes
De Vonte Wil…, Agent, East Point, GA
Sun Feb 3, 2013
Hello! It is always possible, however you should seek the counsel of a Mortgage Broker/Loan Officer. They can examine your current financial situation, and guide you in making sound financial decisions, as well assist you with obtaining financing.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,

De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
(631)384-3695
http://cbmoves.com/DeVonte.Williamson
http://devontesellsny.wordpress.com/
DeVonte.Williamson@cbmoves.com
"I Stand Behind Getting You Results!
0 votes
Thomas Brady, Agent, Plainview, NY
Sun Feb 3, 2013
Hi Samtoler1, your best bet is to sit down and go over your situation with a mortgage professional. Then you will know exactly what you can afford. I think you'll be surprised at what you can get for under a million right now, if you get a good agent there is still plenty of bang for the buck to be found.
Good luck!
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
http://www.BradyFamilyRealty.com
#1 Listing & Selling Brokerage in NY
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sun Feb 3, 2013
You really should be consulting with licensed loan officers, see what options you may have...
0 votes
Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Sun Feb 3, 2013
Unfortunately no! If your income is up there, I suggest you save a little more and put a 20% down payment. There are no mortgage insurance companies who will insure such a high loan amouts on a single family (assuming you're looking for a single family). If you're interested in a 4 family house, you can do a FHA loan for a total loan amount no higher than $1,403,400, with less than 20% down payment.

Javier Meneses
NMLS #23130
Senior Loan Officer
Sterling National Bank
jmeneses@snb.com
(516) 606-9648
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Sun Feb 3, 2013
It is possible but not easy. I sold a house to a guy last year for $1.5 mil and he put down 15%. Speak to some lenders and ask.
0 votes
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