First time buyers explain exactly how they got on the property ladder

First time buyers explain exactly how they got on the property ladder

Shared ownership allowed Angelika to buy a one-bedroom flat at the One Hundred development in Alperton Fed up with moving from rental to rental, marketing executive Angelika Smith felt that the time was right to buy a place of her own. But with property prices – and rent – being so high, the 33-year-old couldn’t see how she’d be able to buy on the open market, or get anywhere near saving the hefty deposit needed. Instead, Angelika look to shared…

The home loan that lets first-time buyers put as little as 3 percent down

In New York City, banks often require you to put at least 20 percent of an apartment's purchase price towards the down payment. Financing a deal like that—when the median price for Manhattan co-ops and condos is just over $1 million—can feel like an impossible goal for many. However, some programs allow qualified first-time buyers to put down far less—as little as 3 percent. For buyers at or below a certain income level, the State of New York Mo…