Rent vs Buy NYC
Rent vs Buy NYC
Out of context: Reply #8
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- johnnyw0
"Exactly, that damn down payment is the hardest part. I heard about a piggyback loan, which is supposed to help out with the downpayment part. I found a nice place in Williamsburg - girlfriend and I are thinking about getting it.."
Even if you can find a bank (or banks) that will do full financing, you will end up paying so much for that load, that it would have been a lot cheaper to rent and invest elsewhere. At that point an apartment is not an investment, but a consumable.
Unless there's something really unique about this apartment, it would probably be insane to finance that way.