Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore visit with any licensed loan officer and see exactly what your budget/expenses can be expected. Keep in mind when purchasing co-ops, boards do have their own financial qualifications that must be met in order to be approved, and each building is different.... more
Based on your question, it's obvious you know the importance of having the right professionals on your real estate investment team. A seasoned mortgage professional is a critical member of that team. I have extensive experience helping investors build wealth with investment properties. For more information or assistance, call me directly at 917.699.0183. Follow me on twitter @mdenniston247.
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Michael Denniston l Cell: (917) 699-0183
Residential Home Funding, Corp.
Licensed Mortgage Loan Originator l Branch Manager
6901 Jericho Turnpike Ste. 219 | Syosset, NY 11791
Main: (516) 605-1733 | Fax: (888) 881-2557
NMLS # 24076 | Company NMLS # 34973
They say Brooklyn is "The New Manhattan" and is more culurally diverse than any place I know. We even have a Botanical Garden! It is alot safer than evcer before, some of the best schools in NYC area here and you can even take the kids to Coney Island in the summer!
I think it more family friendly than the high volume of people and traffic of Manhattan.
Have any questions? Feel free to call me. Not only am I a native...
I was born here!
Well, I'll answer your question in a Brooklyn-centric manner, since it appears that's where you're from. While condo home owners' associations are the norm in places like Florida, in NY there is the condo board and the offering plan, which lays down the rules and functioning of the building for the most part. New ideas or rules are voted on. So don't worry, you'll be fine in NYC with no home owners association-- there's a condo board and if you want, you can usually find a place on it.
Want an agent who rebates you 10% of the commission at closing? That's me. For example, on a $500,000 property with 2.5% to my co., that's a $1,250 rebate.
Sr. Vice President
The purpose of a walk-through is to make sure no damage was incurred from the move out and/or expose something that might have been hidden behind furniture...or anything major that may have occurred since you did your home inspection.
It is NOT another home inspection.
Good luck in your new home.
The amount a buyer offers on a property should be based on how badly the buyer actually wants the property. In the end, the only thing we know for sure is that if you offer the full asking price, most likely you will get the property. If you offer less than the asking price, anything can happen... but the bottom line is that the closer you are to the asking price, the more is the likely that you will get the property.
Think about how badly you want the property and then offer accordingly.
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com... more
You can't. When you purchase a house using FHA financing, you'll pay 1.75% in Upfront Mortgage Insurance Premium which is typically included into the total financed loan amount, and you'll also have monthly mortgage insurance which can vary by the term and percentage of the house's value you're financing. No way to discount any of it on a initial purchase.
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648... more
Depends on the purchase price, your credit, your last two years tax returns, taxes, HOA fees if any, etc. There are a number of factors. Speaking with a mortgage professional will answer all these questions.... more