Mitchell Lama Co-op (credit report, how much, purchase)
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When I was looking, I scoured that list every week (made sure to read every listing as some were in the wrong category or borough) and sent postcards/applications for any complex I thought we might qualify for.
Now we own our own home in a neighborhood we never could have afforded. Of course, there are the regular co-op headaches due to owners having varying agendas. But I wouldn't trade it for the uncertainty of renting or buying in a cheaper neighborhood.
I caught a ride home to the UES with my sister last night, and she always takes Second down from the Third Avenue Bridge. I wasn't too thrilled with the area..but would get a better sense out of the car, I think (she was driving too fast for me to even really tell which buildings were part of Franklin Plaza). Maybe this weekend I'll take a trip up there.
Those floor plans do look pretty amazing, though!!! Either way, it can't hurt to get an application. Sounds like similar pricing to Co-op City, which I was considering a few years ago...just too damn far away from anywhere I want to be.
Did a little more "wandering" around the web last night looking for more info on FP - thought I'd post here for anyone else interested.
According to this listing (scroll way down, about 3/4 down page), the application fee is $150, and the average waiting list time is 5-10 years: East Harlem Preservation
I honestly don't know how interested I am....who knows where the neighborhood will be by the time I came up on the list? And who knows where I'll be? (I really want to get situated before then...) I'm going to request an application, and decide from there. I'll probably apply, just to get my name on the list. I can always decline, but in 5 years, I won't be able to turn back time and send in the app
If the app has more info than has been posted here (income requirements/limits, etc), I'll post it.
KK, since you're a wealth of knowledge on the topic...do you know if they evaluate your finances at the time of application, or at the time you come up on the list? I'm not in a position to be approved at this time, but definitely hope in 5 years I will be!!! Thanks!!!
Did a little more "wandering" around the web last night looking for more info on FP - thought I'd post here for anyone else interested.
According to this listing (scroll way down, about 3/4 down page), the application fee is $150, and the average waiting list time is 5-10 years: East Harlem Preservation
I honestly don't know how interested I am....who knows where the neighborhood will be by the time I came up on the list? And who knows where I'll be? (I really want to get situated before then...) I'm going to request an application, and decide from there. I'll probably apply, just to get my name on the list. I can always decline, but in 5 years, I won't be able to turn back time and send in the app
If the app has more info than has been posted here (income requirements/limits, etc), I'll post it.
KK, since you're a wealth of knowledge on the topic...do you know if they evaluate your finances at the time of application, or at the time you come up on the list? I'm not in a position to be approved at this time, but definitely hope in 5 years I will be!!! Thanks!!!
When I applied to Penn South in Chelsea I wasn't sure I wanted to live there or where I would be. It just so happened that the neighborhood evolved into a desirable and safe place to live and was well worth the $150 I paid at the time. In 10 years East Harlem could be awesome -- or not.
When I applied to Penn South in Chelsea I wasn't sure I wanted to live there or where I would be. It just so happened that the neighborhood evolved into a desirable and safe place to live and was well worth the $150 I paid at the time. In 10 years East Harlem could be awesome -- or not.
It just gives you one more option -- can't hurt.
That's where I'm leaning!!! The worst that happens is that I'm out $150 - certainly wouldn't be the silliest thing I've ever spent that much on...
KK, since you're a wealth of knowledge on the topic...do you know if they evaluate your finances at the time of application, or at the time you come up on the list? I'm not in a position to be approved at this time, but definitely hope in 5 years I will be!!! Thanks!!!
They take your word for it and know that this estimate will have almost NO reality when you are finally called. So just put downn numbers that jibe with the requirements. Only your status when they are ready for you will have meaning.
Quote:
That's where I'm leaning!!! The worst that happens is that I'm out $150 - certainly wouldn't be the silliest thing I've ever spent that much on...
I THINK that only $50 may be in jeopardy. If you decline in the future you get either $100 back or indeed possibley the entire $150.
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