Seller financing: To get deals done, some owners give loans to buyers. Here's how it works

loaning a buyer the money to buy their property may strike you as impossible or strange but New York City brokers say … buyers who have trouble qualifying for or are unwilling to get conventional loans and sellers who are desperate to … that beats available mortgage rates It could be a significant discount like 3 percent or one just a point or half …

By Jennifer White Karp |December 29, 2023 - 3:30PM
What is a cash-out refinance? Are these done in NYC?

… equity of your place one option is to arrange for a cashout refinance This is where you renegotiate the terms of your mortgage in order to access the money tied up in your … right for … A cashout refinance is open to owners of condos coops townhouses or one to fourfamily buildings New Yorkers …

By Emily Myers |September 18, 2023 - 3:00PM
Fed's response to Fannie Mae ‘blacklist’: 'We have no record of it'

… is on the list you will have trouble refinancing or selling to buyers using conforming loans There are also … You Might Also Like … viewbublogpanes=ymalinline   … Buy … Sell … mortgage … selling … Feds response to Fannie Mae blacklist We have no …

By Jennifer White Karp |June 16, 2023 - 2:30PM
Can you use a 1 percent down loan to buy in NYC?

… As a buyer you may have heard about mortgages that allow three … 50 percent debttoincome ratio For comparison lots of NYC coop boards want to see a DTI in the range of 2224 percent … are a couple who earn that exact amount The property is a condo and were assuming the building allows buyers to put 3 …

By Jennifer White Karp |June 15, 2023 - 5:00PM