HPD Affordable Condos

[abcdefgnewyork]

Originally Posted by hkcg

Hi,

This is what I found out:

• highest debt to income ratio is 35%
  
• maintenance and nyc taxes less than market rate (no exact number)
  
• you can't put your application on hold
  
  Good luck! Hope you get one! I decided not to pursue it only because I prefer to wait for Penn South. The Sutton apartments look amazing, but I would probably have to work more and I don't need the stress. Also, there are only 2 studios and 8 one bedrooms available.
  
  

Thank you! Good Luck to you as well.

[nyc.]

For HDP Condos does anyone know:


- How long before you can sell?
- How long before you do not owe any subsidy?
- The subsidy depreciation rate?
- If you sell it, do you have to sell to someone who fits the income requirements etc. that made you eligible?
- Can you rent it, if so what is the process (do you need to find someone who fits income requirements) what can you charge for rent?
-Anything else I should be aware of in the contract?


I got called for a Condo HPD lottery and I have these questions.

[Dtjj]

Congrats to all that got called for The Sutton. I wonder what log# they are up to and did any of you got called back after the initial paperwork drop off?

[hkcg]

Originally Posted by nybklyn

I'm assuming that you are on the 2014 waiting list? With Manhattan Redevelopment Co-op?

Yes. I'm on the 2014 list, which seems to be moving faster than in years past. Also, I really like my apartment now, so I can wait.

[Vs50]

Originally Posted by nyc.

For HDP Condos does anyone know:


- How long before you can sell?
- How long before you do not owe any subsidy?
- The subsidy depreciation rate?
- If you sell it, do you have to sell to someone who fits the income requirements etc. that made you eligible?
- Can you rent it, if so what is the process (do you need to find someone who fits income requirements) what can you charge for rent?
-Anything else I should be aware of in the contract?


I got called for a Condo HPD lottery and I have these questions.

There is no one answer to your questions. Each condo can be different.
You should ask all the questions at the interview.
Also, all the details will be explained in the offering plan that you will get at the time of your interview.

[Tracie James]

Hello , has anyone ever tried to purchase a HPD home or a condo with all cash?