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In addition to the 10% down payment you have to be able to get a mortgage for the remaining balance and afford the monthly maintenance fees, which start at $1,455.00 a month for the studio and go up from there.
My income qualifies me for either the studio or 1 bedroom. I'm not sure if I'm being considered for both or one or the other. I'm also a city employee but it appears I was chosen during the community board selection. I've rented a rent-stabilized 250 sf studio with a mini refrigerator for the last 9 years. Moving on up would be an incredible opportunity.
Did you get your financial documents turned in by the deadline? I got mine submitted and wasn't able to get any info on what the next steps would be and when they would take place. I'm curious when the selected applicants will get to move in. Do you have any idea?
I also got the email and received a community board log number. I think they said at the 2nd info section that they would contact ~50 people initially. No word on a timeline or next steps.
Did you get your financial documents turned in by the deadline? I got mine submitted and wasn't able to get any info on what the next steps would be and when they would take place. I'm curious when the selected applicants will get to move in. Do you have any idea?
Listen Bub, just because it is not affordable to *YOU* obviously that is not universal.
Furthermore the city is kicking in over $25K per unit to further make these units "affordable".
"The seven homebuyers selected by the New York City Housing Partnership will receive $12,750 in down payment assistance along with $12,250 for closing costs for each unit."
Have said this before and will do so again; what a majority of persons in NYC looking at these "affordable" housing units need is *low income housing*. That is not the entire point of the whole scheme.
As have also said the city isn't doing developers or itself any favors by putting persons into these units that cannot afford to pay the rent/mortgage or whatever *ON TIME*. For that they want not much different than private landlords, to see healthy income and so forth.
Then there is the glaring obvious fact that after twenty years owners of these so called "affordable" units can sell without any caps or restrictions. This can and probably does mean long as those selected can hold onto said apartments they are looking at a nice payoff in future.
Do you have more info on the down payment assistance and closing costs assistance? Are those amounts for each homebuyer or to be split among the seven homebuyers? The $12,750.00 exceeds the down payment amount required for the studio. I'm interested in knowing if this amount was a maximum per homebuyer, a fixed amount for each homebuyer, or to be split among all seven homebuyers... do you have any clarity on this?
Listen Sonny....I think the maintenance is high and not affordable. That is my point. This is an affordable apt. Maybe the buy in price is but the maintenance sure as H#ll not.
Actually, compared to building with similar amenities in the West Village (and other prime neighborhoods throughout Manhattan) the maintenance charges are quite reasonable. 100 Barrow has a lot of amenities!
Did you get your financial documents turned in by the deadline? I got mine submitted and wasn't able to get any info on what the next steps would be and when they would take place. I'm curious when the selected applicants will get to move in. Do you have any idea?
What financial documents did they ask for? I've never actually applied for one of these before and though I read some things online, I was curious. And has anyone actually gone on their interviews yet? Thanks
What financial documents did they ask for? I've never actually applied for one of these before and though I read some things online, I was curious. And has anyone actually gone on their interviews yet? Thanks
- Last 4 current and consecutive pay stubs.
- Letter from employer verifying gross income.
-Last 3 years of w-2 forms and 1040 Federal income tax returns.
-Copies of past 3 months statements for all checking, savings, money market, retirement accounts, stocks, bonds, and investing accounts.
- Credit authorization form.
- $25 or $50 money order
The paperwork was due this week so I don’t think they’ve sorted it out yet and start scheduling interviews.
Has anyone received a log number that is in the "general" pool of applicants (not CB or VHM)?
I am sort of surprised that people are able to afford closing costs and lawyer fees let alone the building fees and mortgage for 20-30 years on a max $78K salary.
Has anyone received a log number that is in the "general" pool of applicants (not CB or VHM)?
I am sort of surprised that people are able to afford closing costs and lawyer fees let alone the building fees and mortgage for 20-30 years on a max $78K salary.
You and me both... I cant even afford the salad Im eating right now (yumm)
Has anyone received a log number that is in the "general" pool of applicants (not CB or VHM)?
I am sort of surprised that people are able to afford closing costs and lawyer fees let alone the building fees and mortgage for 20-30 years on a max $78K salary.
If you don't have any debt and a modest savings it is totally doable. Even without putting 10% down the mortgaged amount is still very low for this condo.
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