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Old 04-15-2019, 01:40 PM
 
60 posts, read 65,569 times
Reputation: 24

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Quote:
Originally Posted by meowmeow18 View Post
I am not taking one but the management office included info in the package; I think depending on your credit score you can finance up to 75% with them.
Yes, there is an in-house credit union that handles most Penn South mortgages. They are very easy to work with but the downside is that they offer above-market rates and only 5- and 10-year mortgages, so your payment will probably be higher than you expect for the amount financed. I shopped around other lenders when I moved in (Chase, Citi, Quicken/Rocket) and none of them would give me a mortgage because of Penn South's limited-equity status (my credit score is excellent, so that had nothing to do with it). Citi is apparently working with management to begin offering mortgages but I don't think they are ready to go yet. You might be able to get another local bank to give you a mortgage (maybe Apple Bank?) but I didn't try any others.

And congrats on moving in! You're going to love it. You probably want to sign up for all of the wait lists ASAP. The *shortest* one is probably the parking lot, and that will take 6-7 years to get a spot based on how long the people at the top of that list have been on it. Feel free to PM me with any questions.
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Old 04-15-2019, 02:24 PM
 
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Thank you all. I am keeping my fingers crossed for credit/background check and home visit.
So Incog79...how many " wait lists" are there? I am very much interested in gardening and ceramics. And although I don't have a car right now, I think I will put my name in just in case.
Do you know how much is parking there right now? Thanks
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Old 04-15-2019, 02:58 PM
 
60 posts, read 65,569 times
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Quote:
Originally Posted by meowmeow18 View Post
Thank you all. I am keeping my fingers crossed for credit/background check and home visit.
So Incog79...how many " wait lists" are there? I am very much interested in gardening and ceramics. And although I don't have a car right now, I think I will put my name in just in case.
Do you know how much is parking there right now? Thanks
There are wait lists for parking, the community garden (with preference given to families with kids), storage lockers (I think by far the longest - people never give those up - but at least there are a large number of them), the woodworking club (I think), bike storage, and of course the internal lists for changing apartments. Not sure if there is a wait for ceramics but they advertise classes so it doesn't seem there is.

The home visit wasn't a big deal at all - I think it was just to make sure we lived where we said we did. Someone showed up, gave us a form to sign and left. In and out in about five minutes. I guess if you have fifty cats or a hoarding situation there might be an issue but I wouldn't worry about it.
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Old 04-16-2019, 02:10 AM
 
686 posts, read 318,318 times
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I wonder when they will reopen their waiting list.
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Old 04-16-2019, 06:54 AM
 
11 posts, read 4,602 times
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Quote:
Originally Posted by shadypinesma View Post
I wonder when they will reopen their waiting list.
i think it will be soon. i am currently 189 out of 204 on the studio list on the site. in dec i got a letter stating i was number 17 to view apts.
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Old 04-16-2019, 08:32 AM
 
686 posts, read 318,318 times
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Thanks!

How do we know when it opens?
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Old 04-17-2019, 07:32 AM
 
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That's great about the apartment, Meowmeow18! I'm sure the rest of the process will go well. Thank you so much for letting us know.

Incog79, thanks for the mortgage and home visit information. I hope that by the time I get my mortgage that Citi will be on board. Otherwise I don't mind the higher PS rate because of the low apartment price overall. And thanks for the club information. Do you know anything about who can sell things at the annual flea market?

NYCwork718, Thanks for letting us know about the letter that you got. I hope they send out some more letters soon. What did you think of the apartments?

Shadypinesma, I agree with NYCwork718. I can't speak to the 1,2, or 3 bedroom apartments, but the studio list is getting close to the end. Keep your eye on those little subway papers - AM and Metro - that's where I first saw the ad back in 2014. And of course keep looking at the website and this forum.

Thanks so much to everyone for posting! It is so helpful!

Happy spring!

hkcg
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Old 04-17-2019, 12:08 PM
 
60 posts, read 65,569 times
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Quote:
Originally Posted by hkcg View Post

Incog79, thanks for the mortgage and home visit information. I hope that by the time I get my mortgage that Citi will be on board. Otherwise I don't mind the higher PS rate because of the low apartment price overall. And thanks for the club information. Do you know anything about who can sell things at the annual flea market?

Thanks so much to everyone for posting! It is so helpful!

Happy spring!

hkcg
Anyone in Penn South can sign up to sell stuff. There are a few rules about what you can sell, though - it is really meant to be "garage/stoop sale", so they probably wouldn't give you a table to sell homemade crafts or food.
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Old 04-18-2019, 07:53 AM
 
144 posts, read 198,815 times
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Quote:
Originally Posted by Incog79 View Post
Anyone in Penn South can sign up to sell stuff. There are a few rules about what you can sell, though - it is really meant to be "garage/stoop sale", so they probably wouldn't give you a table to sell homemade crafts or food.
Thanks! I've walked through it a few times and it looks like it would be a fun thing to do. Although I should probably get rid of all my unwanted stuff before I move!
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Old 04-18-2019, 08:52 AM
 
11 posts, read 4,602 times
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Quote:
Originally Posted by hkcg View Post
Thanks! I've walked through it a few times and it looks like it would be a fun thing to do. Although I should probably get rid of all my unwanted stuff before I move!
are you moving into a bigger apartment?if so what do you have currently?
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