Financing owner-occupied tri-plex in Bed-Stuy

Checked with Bank of America and they gave me a hard time: they estimated property taxes at $8,300/year and wouldn’t entertain the idea of rent roles as a form of revenue. I know property taxes are much closer to $3,300/year and 2bd rents in Bed-Stuy are at least in the $1,200-$1,800 range – coupled with my salary it seems like a no-brainer. Any financing recommendations out there? I would like to use an FHA as I am a first-time home-buyer. It would be owner-occupied and hoping rent-roles would cover at least half of the mortgage, etc.

putnam

in Real Estate - General 13 years and 9 months ago

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slightREobsession | 13 years and 9 months ago

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I third that.

slopegirl | 13 years and 9 months ago

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yes yes yes for Adam Dahill

daveinbedstuy | 13 years and 9 months ago

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Use a mortgage broker. Adam Dahill is highly recommended here.