Boards typically look for a DTI of 25% to 30% or less.
When making an offer, you'll likely need to provide a REBNY Financial Statement , which acts as a quick summary of your assets and liabilities for the seller and board to review. 3. The "Board Gauntlet" how to buy a coop in nyc
These are generally lower than condos, typically ranging from 1% to 2% of the purchase price, as you are not paying mortgage recording taxes or for traditional title insurance. 2. The Search and Offer Boards typically look for a DTI of 25% to 30% or less
What Is a Co op? What Is a Co-op Apartment in NYC? - Hauseit how to buy a coop in nyc