I’m half debating maybe trying to get into the “home” owner space due to (slight) market declines and the never-ending question of how long am I going to throw my money into NYC rentals owning nada at the end of the day.<\/p>\n
So I’m thinking of $300-$500k, depending on 1BR or 2BR (and I’m so far away from actually looking, so really – BRs don’t even matter at this point). I will have no problem paying the monthly mortgage, have good credit, etc. <\/p>\n
However, I cannot afford a 20% downpayment (I’m not even close). I know that a lot of places are becoming FHA approved, which is 3.5% down (a lot more my speed) but how do I know if I’d even qualify for this? (I make ok money in corporate america, just have no savings cause of grad school). Are there other ways that I could make this downpayment happen? Other than begging my parents… which I also plan to…<\/p>\n %<\/span><\/span> | %<\/span><\/a> ","protected":false},"excerpt":{"rendered":" I’m half debating maybe trying to get into the “home” owner space due to (slight) market declines and the never-ending question of how long am I going to throw my money into NYC rentals owning nada at the end of the day. So I’m thinking of $300-$500k, depending on 1BR or 2BR (and I’m so…<\/p>\n","protected":false},"author":23597,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"schneps_byline":"","schneps_post_style":"","schneps_post_source":"","schneps_syndicated_read_more":"","schneps_post_source_sitename":"","schneps_syndicated_thumb_html":"","schneps_syndicated_thumb_src":"","schneps_post_source_shortname":"","schneps_post_source_url":"","schneps_post_source_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[104],"tags":[],"districts":[],"class_list":["post-39944","post","type-post","status-publish","format-standard","hentry","category-real_estate"],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/brownstoner.com\/forum-archive\/2010\/01\/fhafirsttime-bu\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"FHA\/First-Time Discounts","url":"http:\/\/www.brownstoner.com\/forum-archive\/2010\/01\/fhafirsttime-bu\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.brownstoner.com\/forum-archive\/2010\/01\/fhafirsttime-bu\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Real Estate","author":[{"@type":"Person","name":"Bklynight"}],"creator":["Bklynight"],"publisher":{"@type":"Organization","name":"Forum Archive","logo":""},"keywords":[],"dateCreated":"2010-01-07T16:45:04Z","datePublished":"2010-01-07T16:45:04Z","dateModified":"2010-01-10T18:42:48Z"},"rendered":"