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Edited my post. I did a search on the forum and found my answer. I have done an exhaustive amount of financial research for an apartment I won't even be eligible for, for 2-3 years. LOL
Right now my main concern is my credit score for getting a mortgage. All of my debt should be paid off in the next six months, minus my student loan, so I'm hoping that helps raise my credit score. Does anyone know what the Penn South Credit Union of the ABEFCU minimum credit score range is?
Bcohen217: Congrats. I moved in in December. I went with ABEFCU for loan. I had borrowed money in my account for several months. I answered yes to the question of whether some or all of my down payment was borrowed but they never asked about it. It was from my sister.
ABE offers a 15 year mortgage at 3%. You have to become a member of the Consumer council to open an account. It’s on their website. https://www.abefcu.org/join-abe/
Last edited by Cara11; 01-29-2021 at 05:29 PM..
Reason: Add name
Does anyone know approximately how much closing costs are and does Carmen point you in the direction of an attorney to help you cover the closing? I'm trying to plan how much additional money I need to save for closing costs, moving expenses and purchase of new appliances. I've never bought property before so I have no clue how any of this works!
Yes, Carmen gives you a whole package of everything you need to know and do. It’s like arriving at Camp orientation! Closing costs are fees here and there but less some can be rolled into mortgage. You will definitely need a few grand on hand.
Thank you so much for all the information over the years, you've been an amazing resource. I was just going by what I read on Google about needing an attorney for a purchase of a coop in NY. LOL
And I'm not a cook by any means so I'll be getting the cheapest stove and fridge I can find.
Good note about the flooring. So I'll expect to have to save at least another 8-9k on top of the down payment!
You will have an attorney given to you by the bank. There is an inspection, there is a lien search but it’s all pretty easy and you are directed by Penn South. 8 or 9 grand would be plenty, I got lucky and there was flooring in my kitchen. I just went through this.
Hi, Cara! How do you like Penn South so far? You said you picked an A-line one-bedroom, right? How is it? It seems nice and large from the floor plans.
Can I ask where you live now because you don't seem to know the area at all, which is a bit unusual considering you plan to buy there. I would recommend you take some days and walk the area when you have time. Penn South is in walking distance of literally anything and everything you need.
I live in Queens. I am not familiar with the area. All i am thinking living Manhattan will be more expensive than Queens. Thank you for your response!
I live in Queens. I am not familiar with the area. All i am thinking living Manhattan will be more expensive than Queens. Thank you for your response!
I would suggest when the weather warms up to spend some more time in the area. You don't want to purchase a place in an area you don't know anything about. Affordable or not. Buying is typically long term.
After all you could be waiting 5 years finally get called and realize you hate the area
I would suggest when the weather warms up to spend some more time in the area. You don't want to purchase a place in an area you don't know anything about. Affordable or not. Buying is typically long term.
After all you could be waiting 5 years finally get called and realize you hate the area
I will definitely spend sometime on that area after weather warm up. Isn't we already waited 2 years from 5?
I will definitely spend sometime on that area after weather warm up. Isn't we already waited 2 years from 5?
Well no one knows the wait time. That was just a number I threw out. They are still on the 2014 list.
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