Financing in 10007 : Real Estate Advice

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Eugene Kopman,  in New York, NY
Eugene Kopman answered:
Looking for a bank that will do a coop refi with the least amount of hassles. I have excellent credit and have no reason to be denied. Suggestions?

I recommend a mortgage banker at Bank of America.
Jan Nguyen
Sr Mortgage Loan Officer
Bank of America Home Loans | 335 Madison Ave, 4th Floor | New York, NY 10017
Offic ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in 10025
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
my credit score is 771, but i have no history of employment in the US. my income comes from abroad. what kind of financing can i get these days?
You will really need to see a local and trusted loan officer or mortgage company who cal look at your creidt report, income and expenses and let you know. They can prequailify you at no ... more
0 votes Share Flag Tue Mar 1, 2011 Financing in New York
SBPPnyc, Real Estate Pro in new york, NY
SBPPnyc answered:
Can anyone tell me what the problem is in Battery Park City, Manhattan? Does it mean no banks are lending ? Are any of the bldgs exempt?
There are tons of potential reasons, maybe a little of each:

1. There is just too much inventory and not enough people who want to live in the area. It is kinda far out from anything ... more
0 votes Share Flag Wed Jan 26, 2011 Financing in 10003
Annette Levi…, Other/Just Looking in New York, NY
Annette Levinson answered:
good faith estimate - HELP!
Are you buying in NYC? The mortgage tax seems wrong but I need to know where in NY you are buying. There should not be an attorney review when you have an attorney fee, it is usually on ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in New York
Rob,  in New York, NY
Rob answered:
Want to know if there are firms which provide international finaning for commerical real estate ?
There are a plenty of private lenders issuing loans for commercial real estate financing, but there is no central clearinghouse for this information - at least that I am aware of. I wou ... more
0 votes Share Flag Mon May 16, 2011 Financing in New York
Eisenberg Sc…, Real Estate Pro in New York, NY
Eisenberg Scott answered:
Refi question - help!
Please reach me in the morning after 745am on my cell 917 306 6618. - depending on the details you should have some choices.
0 votes Share Flag Tue Jan 3, 2012 Financing in 10022
Tudor, Home Buyer in 10017
Tudor asked:
0 votes Share Flag Sun Oct 17, 2010 Financing in 10017
KC Horton,  in Brooksville, FL
KC Horton answered:
Can I get home equity on my 2 properties if i'm currently a full-time student?
You should be able to pull 150k or so out and that should buy you a fine fixer upper The best bet would be to try where you bank first and then explore the hard money lenders in your ar ... more
0 votes Share Flag Thu Oct 7, 2010 Financing in New York
Fern Hamberg…, Real Estate Pro in New York, NY
Fern Hamberger answered:
Will a salary from overseas wired into my US account be sufficient for a lender as "steady income"?
It all depends which country you are from and which company you are working for.
where is your money being wired to? which bank? and how much you have in the bank? Do you have other ... more
0 votes Share Flag Fri Oct 8, 2010 Financing in New York
Weichert Rea…, Real Estate Pro in Bronx, NY
Weichert Realtors House and Home answered:
Who refi's unwarrented mortgages in NYC?
Hi Georgia,

I am going to be the first to state my ignorance. I have never heard of an unwarranted mortgage. What is it and why would somone have one?

... more
0 votes Share Flag Sat Mar 12, 2011 Financing in 10003
Zaza Pasori, Real Estate Pro in Washington, DC
Zaza Pasori answered:
I am currently looking for a FHA approved Condo in Manhattan. I am a veteran and will be using the VA Loan.. need an approved bldg list please help!
Here is a link to HUD`s FHA approved condos.You will need a condo ID# or Condo`s name to do your search.

Good Luck!
0 votes Share Flag Thu Jul 23, 2015 Financing in New York
Chris L. Chr…,  in New York
Chris L. Christie answered:
Re: FHA 203(k) and/or 203(b) loans.Can projected rent on the property to be financed be used to qualify for a loan (in addition to my own inco...
These loan products are for Owner Occupied Properties ...ONLY. Hence, single family property---no rent.
Multi-Family underwriting risk models are such that to purchase a 2 family, the ... more
0 votes Share Flag Fri Aug 27, 2010 Financing in New York
Corey Grushin, Real Estate Pro in East Brunswick, NJ
Corey Grushin answered:
20% or 25% down as Fannie mae guideline on a 3-unit primary residence property in NYC for loan amount 589000.00
Conventional financing is 25% down on 3 & 4 family homes
0 votes Share Flag Wed Sep 15, 2010 Financing in New York
Jason Stevens,  in Englewood, FL
Jason Stevens answered:
Question on difference between financing percentage and contract stated down payment on condo purchase
Your lender is skating on thin ice. I may tend to agree with them in theory but in reality not so. First off your lender is YOUR LENDER not your attorney. They have absolutely no right ... more
0 votes Share Flag Mon Jul 26, 2010 Financing in New York
Ed Groussman, Real Estate Pro in Parsippany, NJ
Ed Groussman answered:
on what amount do you need to pay ny stamp tax - is it only if you increase the amount of the loan when refinancing on the increased amount or is it
you pay city and state mortgage tax on the new mortgage amount UNLESS there is a CEMA. That will transfer the tax already paid if this were a refinance transaction and you would be resp ... more
0 votes Share Flag Thu Jul 22, 2010 Financing in 10025
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
looking at a house and want to put a offer is not the best but nothing serious on my report. getting married next month a fiance has had a
Not knowing your financial picture--If you haven't done so yet, do visit with any qualified loan officer(s), see if you qualify for a mortgage and exactly what your budget can hand ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in New York
Gail Gladsto…, Real Estate Pro in 11743, NY
Gail Gladstone answered:
I have a decent credit score over 770, I would like to purchase a condo but with 100% financing from the bank. Is this at all possible.?
If you could find such a financing (not too available these days) my guess is that the condo board would not approve you. Most of them also want from 6 months to 1-2 years in reserves ... more
0 votes Share Flag Fri Jul 9, 2010 Financing in New York
Doc & Ellen…, Real Estate Pro in San Antonio, TX
Doc & Ellen Stephens answered:
I'm considering purchasing a condo without financing but want to make sure I buy a unit that a bank would be willing to finance in case I need to
Hi, A,

First stop should be for HUD's Approved condo list. It's hared to get ANY government backed loan on a condo that hasn& ... more
0 votes Share Flag Fri Jul 16, 2010 Financing in New York
Stacy Carter, Real Estate Pro in Roswell, GA
Stacy Carter answered:
How difficult to get a loan for a condo unit in a building where the majority of units are owned by a sponsor?
Yes, unfortunately this has been an issue. 29 of 52 units not owner occupied is too high a percentage and presents a significant risk for the bank. In fact, this is a risk for you as ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in New York
Lee Williams,  in New York, NY
Lee Williams answered:
Are NYC banks currently lending for HDFC properties?
You need to find a 'Portfolio Lender'. Try Apple Bank.
Be prepared to have a downpayment of 15% or more (even if the co-op only requires 10% down) and you will need a stella ... more
0 votes Share Flag Thu Aug 26, 2010 Financing in New York
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