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Financing these days

Started by Aael921
about 11 years ago
Posts: 131
Member since: Jan 2013
Discussion about
Hi All, For those in the market one way or another, are many purchases in the 2 bed/2 bath category (low to mid range, not high end) still financed to the extent allowed by the coop? Sister looking near us on UWS and would be financing . While I know prices well, I am not an insider (other than in my own building on board) so don't know how competition will be with cash buyers. Assuming price range is 1.4-1.8. Thanks.
Response by jelj13
about 11 years ago
Posts: 821
Member since: Sep 2011

The bank and cooperative may impose a debt to earnings ratio. I bought a coop 1.5 years ago and coop was stricter than the bank. Even if you don't have a mortgage, the coop will probably use the ratio.

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