Looking to buy first home in NY

[Elena Livins]

Hi all,

Haven't been on here in a long time and look where we are now. Currently I am stuck working from home in my rented Brooklyn apartment, with my mother, longing for a backyard, privacy and cleaner air. Still I am lucky and extremely grateful that I am still employed, have groceries and a roof over my head, and my family is safe!

I've come closer and closer to the conclusion that I am ready to invest in a home, and now I feel so ready I can taste it. But I am also having anxiety about making this major step, I don't know where to start. I keep reading information, I know what I need to do but I have this fear that I may be rejected for a loan...or what if I'am approved! There's so much work to be done! How do people do this??

Anyway, I wanted to reach out to this community to see if anyone has any advice, encouragement or warnings.

I don't make much (bet 75K-$85K), I have student loans ($55K), and credit card debt ($7K) that I am paying down. I would be able to make a down payment of $10k-$15k, and I want a 2B house an hour from the city upstate NY. Just for reference.

[Scott Wolf]

@Elena Livins depending on what the closing costs are, many banks will let you roll in points etc.  But because you're using a mortgage broker in better.com, I'm not sure they will allow any points rolled into the loan.  I'd also check the banks you got quotes from, because if you don't have any local banks on the list, they may be better options with lower fees.

Happy to chat further if you'd like to send me a PM.