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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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SONYMA
I can't believe the max income on a $300,000 mortgage is $60,000!!!!
how do those numbers even ADD UP! I am so confused.
I thought it would be nice to get a mortgage from the STATE...at least if I am paying interest it maybe would go to some good program or something LOL...
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Posted 7/15/08 3:43 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
qtdimps231
LIF Toddler
Member since 11/07 477 total posts
Name:
Diana
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Re: SONYMA
my friend tried to get a sonyma loan and it screwed her out of her house. the process took too long and the sellers didn't want to wait so they backed out. apparently it can take months to get your commitment letter. i dont think its worth it until you and the seller are in no rush.
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| Posted 7/15/08 4:09 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: SONYMA
According to the website, nyhomes.org the max income is $97,100 for a 1-2 person household. The purchase price limit is $550K.
I did hear about it taking a long time to go through but when we had went to apply, they said if we have all the required paperwork in place they can close in 30 days or less.
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| Posted 7/15/08 4:19 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: SONYMA
Posted by JandJ1224
According to the website, nyhomes.org the max income is $97,100 for a 1-2 person household. The purchase price limit is $550K.
I did hear about it taking a long time to go through but when we had went to apply, they said if we have all the required paperwork in place they can close in 30 days or less.
they have two loan programs with 2 income caps apparently.
either way, we don't qualify. 
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| Posted 7/15/08 4:28 PM |
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Jackie24
~We Did it~
Member since 7/06 6718 total posts
Name:
Jackie
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Re: SONYMA
It makes no sense......just like all of these down payment assistance programs, there is no way on that salary requirement people could afford the loans, unless you are hiding money or something
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| Posted 7/15/08 6:34 PM |
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