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The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City. As currently written, the program also focuses on promoting affordable housing in the most densely populated areas of New York City.
Helps you establish a homebuying budget before you apply for a mortgage. How to get started with mortgage prequalification. Contact a lender. Prequalification is typically done online, but you can ...
Prequalification is a simple, quick process that provides a general indication whether you would qualify for a mortgage. Preapproval requires providing extensive documentation regarding your ...
Buying a home is intimidating, to say the least. Being able to afford one is hard enough, and if you get past that hurdle, it's on to dealing with a hot housing market, getting an offer accepted ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
To qualify for rent control, a tenant must have been continuously living in an apartment since July 1, 1971, or be a qualifying family member who succeeded to such tenancy. When vacant, a rent-controlled unit becomes "rent stabilized", except in buildings with fewer than six units, where it is usually decontrolled.
When you apply for preapproval, the mortgage lender will perform a hard credit pull to check your credit history. This will temporarily lower your credit score by a few points.
Pre-constructions are usually marketed to real estate developers and to early adopters as developments so that the purchaser can secure more favorable finance terms from their lenders. Property investors or property speculators purchase off-plan property with the aim of making substantial capital gains. This financial return may occur because ...