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Plus if you read through the threads, banks/lending institutions and Penn South tend not to play well with each other. A lot of residents just go through the Penn South Credit Union.
Also, based on how long it has taken for others to be chosen off of the waiting list, you will have some time to save.
This really depends on where you are on the list. I was selected in the 2014 studio lottery and was offered mine in mid-2016. Others from the 2014 lottery are just getting in now and there was at least one story on this board from someone moving into a studio previously occupied by a 2014 entrant who may have been offered the apartment in 2015.
Plus if you read through the threads, banks/lending institutions and Penn South tend not to play well with each other. A lot of residents just go through the Penn South Credit Union.
PSFCU is by far the easiest way to go, but they tend to offer above-market rates and short terms (5- and 10-year only), so the monthly payments are higher than you might expect (though still well below market-rate rents even if you finance 75%). Another option is the American Broadcast Employees union. They have more hoops to jump through to join the union but their rates and terms are more reasonable.
This really depends on where you are on the list. I was selected in the 2014 studio lottery and was offered mine in mid-2016. Others from the 2014 lottery are just getting in now and there was at least one story on this board from someone moving into a studio previously occupied by a 2014 entrant who may have been offered the apartment in 2015.
How are you liking your studio?
Do you have plans on internally transferring to a 1 bedroom?
Congratulations to all that have been chosen for the penn south 2019 lottery... I just have a quick question... does anybody know if anyone that had put in for a two bedroom got an email or mail that they’ve been selected? I see a lot of studio and one bedroom selection.. I’m just trying to hold out hope... Thank you in advance
Congratulations to all that have been chosen for the penn south 2019 lottery... I just have a quick question... does anybody know if anyone that had put in for a two bedroom got an email or mail that they’ve been selected? I see a lot of studio and one bedroom selection.. I’m just trying to hold out hope... Thank you in advance
I’ve been selected for 2 Bedroom was notified via email yesterday.
PSFCU is by far the easiest way to go, but they tend to offer above-market rates and short terms (5- and 10-year only), so the monthly payments are higher than you might expect (though still well below market-rate rents even if you finance 75%). Another option is the American Broadcast Employees union. They have more hoops to jump through to join the union but their rates and terms are more reasonable.
yea i've seen their rates. it's a bummer but when i spoke to a resident on a recent apartment visit, they did mention the fact they were really easy to work with.
ABE is a new one; never's been mentioned on this thread. i'll check it out.
My brother just got picked for a 1 bedroom so I think those are rollling in now too. When he checked last night it wasn't there.
Oh - thank you so much for posting this. I figured it all went out yesterday and was sooooo bummed out last night. I guess there's still a tiny bit of hope.
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it's a bummer but when i spoke to a resident on a recent apartment visit, they did mention the fact they were really easy to work with. 
