The Edge Gets FHA Approval
At the end of last week, The Edge, the 922-unit development on the Williamsburg waterfront (above), announced via email that it had been approved to participate in the FHA program. (The news first appeared in The Real Deal before Thanksgiving.) Translation: Buyers of units inexpensive enough to qualify for conforming loans (up to $729,750) can…
At the end of last week, The Edge, the 922-unit development on the Williamsburg waterfront (above), announced via email that it had been approved to participate in the FHA program. (The news first appeared in The Real Deal before Thanksgiving.) Translation: Buyers of units inexpensive enough to qualify for conforming loans (up to $729,750) can get low mortgage rates with low down payments (only 3.5%). Earlier this year, when things were really bad, this was the only way any condos were selling; it’ll be interesting to see what kind of boost The Edge gets from it now.
Looking for others who have also put a deposit down at the Edge in the past. Not seeing anyone on these boards except agents and sarcastic remarks. Want to talk to others who have put money down.
Send an e-mail to the-edge-williamsburg-brooklyn-buyers-google-group@googlegroups.com. I have created a private invitation only google group. Send me an e-mail, if you are interested in talking about group negotiation.
^ see! total scammage and nepotism
*rob*
A woman I knew when my daughter went to elementary school in Chinatown did some research about these low-middle-income apartments in market-rate buildings in Chinatown and the Lower East Side. The great majority of them went to children of friends of the owner, recent college grads who could show a low-income tax return for a few years.
quote:
rob, what is your problem with lending?
cuz no one will lend to ME! 🙂
*rob*
Posted by: Butterfly at December 7, 2009 12:34 PM
He’s honest. You have to give him that.
LOL rob! You crack me up with that one.
quote:
Oh, so rob, your dislike of financing is because you can’t qualify for a mortgage. Sounds like you are dialing up the whaaambulance to me.
dialing it up? girl, im driving it!
*rob*
Oh, so rob, your dislike of financing is because you can’t qualify for a mortgage. Sounds like you are dialing up the whaaambulance to me.
“only 3.5%
Instant submersion. Values will drop far more than 3.5% from here. Very irresponsible and very corrupt (saving big banks with impunity but leaving these unsuspecting buyers with barnicles).
***Bid half off peak comps***
This looks like an office park in Kansas.