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Does anyone know how hard it is to get approved by SONYMA these days?
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Does anyone know how hard it is to get approved by SONYMA these days?
We had an offer on our condo, but the buyer plans to use SONYMA. Apparently she has a preapproval from Chase (though which she is getting SONYMA), but I remember reading horror stories about people getting turned down at the last minute. She plans to put down 5-10%...
Any ideas?
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Posted 2/26/09 6:50 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Shea628
LIF Zygote
Member since 2/09 11 total posts
Name:
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Re: Does anyone know how hard it is to get approved by SONYMA these days?
Hey Beth (it's Katie)...I did a SONYMA on my co-op. As long as the girl is organized and has all her paperwork in order it's really not a big deal. It's also a good idea to make sure that she's working with a mortgage person/company that is familiar with SONYMA. Mine went very smoothly. It may have taken an extra week or so just b/c of all the paper work but it wasn't bad at all. I also put 10% down.
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| Posted 2/26/09 7:18 PM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Does anyone know how hard it is to get approved by SONYMA these days?
Posted by Shea628
Hey Beth (it's Katie)...I did a SONYMA on my co-op. As long as the girl is organized and has all her paperwork in order it's really not a big deal. It's also a good idea to make sure that she's working with a mortgage person/company that is familiar with SONYMA. Mine went very smoothly. It may have taken an extra week or so just b/c of all the paper work but it wasn't bad at all. I also put 10% down.
Thanks!  I've heard horror stories about it taking longer, but I hope she has everything in order and it goes smoothly! Hope you are well!
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| Posted 2/26/09 8:13 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Does anyone know how hard it is to get approved by SONYMA these days?
it normally takes a month longer....
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| Posted 2/26/09 10:23 PM |
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