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I chose my apartment today. I found the experience a little nerve wracking ...to have to make a decision without time to study the floor plans and prices. I took a friend to help. But everyone there was very nice and helpful.
Joker1296- looks like we are going to be neighbors!
BlueGreen007- Most upper floor 1BR corners are taken. There are some lower level ones still available. As far as re-selling, you owe the subsidy if you sell within 5 years and a percentage years 6-15 (I think 50%). Not sure about flip-tax.
mollybloom- non-preference folks have not be called yet, but I got the idea they will in Oct.
I wish everyone good luck!
Vandigoodness - Congrats!!! that was a little stressful looking at those small diagrams and trying to picture the view or lack there of one of your apartment sight unseen. Did you find that the closing cost were extremely high considering they originally quoted 5 percent and then in my case at lease stated the costs world be around 20k on an 295k apartment. In addition considering you don't have to pay a realtor I would think the cost would come down some. Granted this was just a quote by the lender but that's an additional 6k of real upfront moneylenders addition to the 5 percent quoted. Anyone who has any incite on this your knowledge or an opinion is appreciated. Or should you look into an agent to help negotiate these things.
Vandigoodness - Congrats!!! that was a little stressful looking at those small diagrams and trying to picture the view or lack there of one of your apartment sight unseen. Did you find that the closing cost were extremely high considering they originally quoted 5 percent and then in my case at lease stated the costs world be around 20k on an 295k apartment. In addition considering you don't have to pay a realtor I would think the cost would come down some. Granted this was just a quote by the lender but that's an additional 6k of real upfront moneylenders addition to the 5 percent quoted. Anyone who has any incite on this your knowledge or an opinion is appreciated. Or should you look into an agent to help negotiate these things.
This is a take it or leave it type of situation, there is no negotiating terms, or bringing in outside realtors.
This is a take it or leave it type of situation, there is no negotiating terms, or bringing in outside realtors.
Yeah. I beginning to think the number quoted by the lender as an estimate may have included the down payment and I read it wrong. Either way it's going to get done one way or the other. I figured as much that you do not have a lot of give and take considering how quickly they want things to move.
Has anyone spoken to the lending officer for Wells Fargo. I'm curious as to what his name is. Only the Chase officer was there when I was there. Just curious as to the difference in options and estimated closing cost if there are any. Thanks.
Has anyone spoken to the lending officer for Wells Fargo. I'm curious as to what his name is. Only the Chase officer was there when I was there. Just curious as to the difference in options and estimated closing cost if there are any. Thanks.
Just wondering...when is the estimated completion and move-in date?
I'm new to this thread. I'm currently waiting to move into Hunters Point South lottery apartment but would leave it in a heartbeat for Navy Green condos.
I just submitted this question to the Navy Green team but maybe someone on here knows the answer. My husband and I are trying for another child. If we are successful before they call us for the apartments, will we qualify as a family of 4 before the baby is born?
Hi GiaWin1, the application deadline was May 26, 2015. Everything is in full swing now for those who entered.
Joker1296- I just friended you, but don't really know how it works. If you can figure it out, feel free to PM me, as I would be happy to speak to you directly.
Funny, that you were quoted $20K for closing costs, as when I asked Joanna from Wells Fargo at the NavyGreen office, she was saying more around $10K, which I was surprised about b/c I thought it was going to be more around $20K.
About renting it out- there are details in the offering plan about subleasing. Looks like 2 years max and has to get approved by the City.
About reselling - looks like there is no point to sell (no profit to be made) until after 15 years as there are conditions about paying back the supplement until that time has passed. Have not looked into how much of a % increase the offering price can be either. That's a good question!!
Mike Reed - thanks for sharing those facts and updates with us!
Hi GiaWin1, the application deadline was May 26, 2015. Everything is in full swing now for those who entered.
Joker1296- I just friended you, but don't really know how it works. If you can figure it out, feel free to PM me, as I would be happy to speak to you directly.
Funny, that you were quoted $20K for closing costs, as when I asked Joanna from Wells Fargo at the NavyGreen office, she was saying more around $10K, which I was surprised about b/c I thought it was going to be more around $20K.
About renting it out- there are details in the offering plan about subleasing. Looks like 2 years max and has to get approved by the City.
About reselling - looks like there is no point to sell (no profit to be made) until after 15 years as there are conditions about paying back the supplement until that time has passed. Have not looked into how much of a % increase the offering price can be either. That's a good question!!
Mike Reed - thanks for sharing those facts and updates with us!
All the best,
VandiGoddess
Thank you. I submitted my application the day it came out and I'm now impatiently waiting to see if I got the golden ticket.
I'm new to this thread. I'm currently waiting to move into Hunters Point South lottery apartment but would leave it in a heartbeat for Navy Green condos.
I just submitted this question to the Navy Green team but maybe someone on here knows the answer. My husband and I are trying for another child. If we are successful before they call us for the apartments, will we qualify as a family of 4 before the baby is born?
For anyone who is interested, Navy Green team responded right away. If one is expecting, an unborn child will still count as a member of the family.
Good day all - I have a question for those that were interviewed. During the initial interview how much do you have to prove that you have in liquid savings for the 1 bedroom? 15k, 20k, 25k+?. Do they check how much outstanding debt the applicant has (car/student loans). Just wondering if it is more the property management or the mortgage lender that checks this information.
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Hi
