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Nice! Does anyone know what their current terms are? Like what is the interest rate and how long of a loan will they offer?
Not sure how much it matters though… Considering in the last 6 months I’ve only moved up about 6 spots on the 1-br list. I think by 2045 when I finally get called I should have the full amount saved
Last year in October I reached out to UHAB asking them if they worked with Penn South (back then, they didn't). It took some back and forth but I was able to convince them to try and get certified by Penn South and it looks like they did! Alexander at UHAB is extremely nice and easy to work with and told me last Thursday they just got approved... can't wait to use them for my mortgage if I don't manage to save up 100%. I feel good that I was able to help put in motion getting Penn South to work with another lender.
If anyone wants to see their loan document packet let me know and I will send it.
Hi shady, can you DM me? I'd love to see the documentation!
Wow, this is a terrific new option, and I hope it helps a lot of people. Thank you, Shady, for helping to bring this about! I just told my daughter about it.
Also, I have a question for any current PS cooperators here, or anyone else who would know. A friend (from the 2014 list) recently went through the process and saw five studios. All of them had the basic kitchen setup: wood cabinets with a sink, no stove, no fridge, no flooring.
She also got the impression that getting permission to redo the kitchen would be difficult. Does anyone know if this is true or not? How good is PS in allowing renovations?
Also, I have a question for any current PS cooperators here, or anyone else who would know. A friend (from the 2014 list) recently went through the process and saw five studios. All of them had the basic kitchen setup: wood cabinets with a sink, no stove, no fridge, no flooring.
She also got the impression that getting permission to redo the kitchen would be difficult. Does anyone know if this is true or not? How good is PS in allowing renovations?
I know many people who have renovated bathrooms and kitchens here at Penn South. I also had some alterations done to my kitchen, and it was really no hassle. There are a couple of contractors who are used quite often here, but people are free to choose any qualified contractor, or whatever professional is needed. The management office provides you with a packet of information as to what they need, and for what you and the contractor need to be aware of when renovating. The companies that do a lot of jobs here already know the score. I used one of them, and as I recall they were very helpful with regard to submitting the paperwork. I never got the feeling that renovations were frowned upon here. I only had a new countertop, sink, and faucet put in. My kitchen floor is still cement, but I put a clear coat of a matte finish on it. I am planning to transfer to a one bedroom from the studio I live in. In most instances, you have to supply your own appliances and kitchen floor coverings. The bathrooms are tiled, and living areas have finished wood floors.
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