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100% financing

Started by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006
Discussion about
How frequent is this in the nyc market? And are new developments open to such financing or is mainly secondary sellers? What about a "seller's concession"?
Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

I don't even thinks it's possible....

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Response by broadwayron
almost 19 years ago
Posts: 271
Member since: Sep 2006

I've seen a couple buildings (out of thousands) advertise "zero down". Doesn't mean you'll find a bank which will allow 100% financing. Incidentally, I bought a house with 0 down years ago in another state, because the developer had a deal with a local bank; it was so easy compared to buying in NY, it felt criminal.

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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

yea it's possible, depends on your lender and the amount of the loan. Obviously 1mil+ is hard to get approved but under 500k is easy to get 100k% financing.

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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

Not a good idea, no matter how much you borrow.

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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

not a good idea

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Response by anonymous
almost 19 years ago
Posts: 8501
Member since: Feb 2006

why is it not a good idea?

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