I have been trying to navigate this difficult NYC market by myself for the past few months, since I haven't been able to find a good realtor who is responsive, but I have a few questions... I am looking for a co-op in the Clinton or UWS areas. I know some co-ops in Manhattan require up to 90% financing, but they are hard to find. Does anyone have a listing of buildings in Clinton and UWS that meet... [more]
I have been trying to navigate this difficult NYC market by myself for the past few months, since I haven't been able to find a good realtor who is responsive, but I have a few questions...
I am looking for a co-op in the Clinton or UWS areas. I know some co-ops in Manhattan require up to 90% financing, but they are hard to find. Does anyone have a listing of buildings in Clinton and UWS that meet this requirement, or any database where I can find this info out? Whenever I call a realtor to ask about a specific unit they just say 20%, but i'm not certain a lot of them really know what the board package reads.
Also, I spoke to a mortgage broker who said that I would be able to pay a little bit higher interest rate and he would be able to cover the majority of my closing costs (if i went the condo route). I was excited when I heard this, so I decided to google it and it turns out that this is called a "Service Release Premium". Can anyone shed light on this? Have you heard of this before? What all does it generally entail?
Thanks!
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