Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in White Plains : Real Estate Advice

  • All289
  • Local Info29
  • Home Buying73
  • Home Selling11
  • Market Conditions15

Activity 6
Tue Jul 15, 2014
C asked:
Hi,
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…
0 votes 0 Answers Share Flag
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 http://www.mortgagemaster.com/mjablonski/

Good luck!

Don Mituzas
Licensed Associate Broker
Douglas Elliman Real Estate
http://www.donmituzas.com
http://www.nyhomeseller.com
... more
0 votes 7 answers Share Flag
Sun Mar 17, 2013
Javier Meneses answered:
Nina, have you seem any lenders who can close on these coops?
4 votes 4 answers Share Flag
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 egroussman@myhsoa.com 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.
Thanks,
Ed Groussman
Community Banker
Home Savings of America
Member FDIC, Equal Housing Lender
... more
0 votes 5 answers Share Flag
Sun Oct 17, 2010
Harry DOnofrio answered:
Search Advice
Search
Financing in White Plains Zip Codes

Followers

329