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Financing in White Plains : Real Estate Advice

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  • Home Buying73
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Activity 6
Tue Jul 15, 2014
C asked:
I am a student with F1 visa. I plan to purchase a condo around white plains to get off the high rent. I wonder if there is a way to get mortgage for F1 student. I am considering put…
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Wed Mar 20, 2013
Donald Mituzas answered:
This is frequently a problem with the purchase of a foreclosure. If it is a problem with a certificate of occupancy you will have a difficult time. Banks don't like to close on properties that are technically not legal to occupy. If it's a matter of repairs like a roof, boiler etc, you might get a bank to finance if you can show you have funds to make the repairs. You would have a hard time finding a bank with the plan of fixing up the house as you have the funds. The don't want to end up foreclosing themselves. If there is a mortgage plan that will work for you, Matt Jablonski a mortgage broker will probably know about it. I've seen him find loan programs for just about anything you can think of. You can find him at

Good luck!

Don Mituzas
Licensed Associate Broker
Douglas Elliman Real Estate
... more
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Sun Mar 17, 2013
Javier Meneses answered:
Nina, have you seem any lenders who can close on these coops?
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Thu Apr 14, 2011
Ed Groussman answered:
FHA loans have a 1% upfront premium(which is typically financed), as well as a monthly premium of 1.15% if your borrowing >95%(which is the new rate effective Monday 4/18/11) in which is mandatory for a minimum of 5 years as opposed to conventional loans which has no upfront premium and a monthly premium that falls off when you have 20% equity in the home. The downside of a conventional is a higher mortgage rate and tougher guidelines to be approved. I will be happy to discuss different options with you as well work with you at getting the best possible rate. I can be reached via email at or phone 347-903-5626.
P.S.- you are eligible for the current FHA monthly premium of .90 if the case number is pulled before 4/18.
Ed Groussman
Community Banker
Home Savings of America
Member FDIC, Equal Housing Lender
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Sun Oct 17, 2010
Harry DOnofrio answered:
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Financing in White Plains Zip Codes