Deal Killing Mortgage Broker

Helping a friend sell an apartment (I'm a licensed RE Broker as well as a Loan Officer) in the Riverdale section of The Bronx has been interesting.

By interesting, I have an opportunity to hear what my competition is telling their clients. Today was interesting. I had an appointment with a prospective buyer to show her the apartment in the listing below. She called today and canceled. The Washington Mutual loan officer with whom she is working told her that a 20% down payment was too much.

Perhaps the prospect doesn't have the money. That would be understandable, one needs about $66,000 to buy this apartment ($44,000 down payment and $22,000 in post-closing reserves). That's a lot of money.

But if the loan officer actually did tell her that putting 20% down on a property is foolish, then the mortgage industry has not learned from their mistakes. Since when is it a problem to actually have some equity in your home?

1 BR Riverdale Coop for Sale

Check out the walk-through here.

Check out the listing here.

And of course, for financing on this purchase, click here.

Sun-filled Riverdale 1 Bedroom

Location: Riverdale

This delightful coop on the river side of Henry Hudson Parkway is on a high floor, offering gorgeous Riverdale views and lots of light from windows to the north and south. The Windsor offers a full time doorman, gym, parking, in-building laundry, outdoor swimming pool, storage, bike room and express bus service to the subway and the Metro North. The apartment offers many windows, a dining area, great closet space, windowed kitchen, a balcony facing south for all day sunlight in a quiet well maintained building. Southern & Northern Exposure for All Day Light
Balcony with Sweeping City Views Lots of Closet Space 24 Hour Doorman
Outdoor Swimming Pool In-Building Parking Available (no waiting list) Windowed Kitchen Dishwasher

Photo Gallery

Information

Contact Information

Jeffrey Loyd

212-582-9050

jeffrey@jeffreyloyd.com

Pricing

Asking Price: $220,000.00

Flexibility: Negotiable

Additional Pricing Information: 80% Financing$658 Maintenance (42% Deductible)

Homeowner Dues: $658

Property Location

4705 Henry Hudson Parkway
Bronx, NY 10471

Links

For Financing

My Blog

My Real Estate Site

Features

Bedrooms: 1

Bathrooms: 1

Parking: In-Building

Year Built: 1960s

Located on Floor #: 9

Floors in Bldg: 14

Square Footage: 700 approx

Agent Name: Jeffrey Loyd

Broker: Hydra Property Group

MLS #: 4705 Henry Hudson Parkway 9F

Attributes

Appliances

Range/Oven

Full Refrigerator

Dishwasher

Microwave

Building Amenities

Exercise Room

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Equal Housing Opportunity

VFLYER ID: 866308