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The following is a marketing illustration of potential and likely purchase costs for each Unit Type. It is not a Truth in Lending disclosure. The Calculator provides a preliminary estimate based a various assumptions including some amounts that can be adjusted by potential buyers. To use the Calculator, select a Unit Type from the menu in the first box, then enter any additional amounts of earnest money or cash from sources such as HPAP, EAHP or gifts, etc. The Calculator will show an estimated monthly loan payment (paid to a Share Loan Lender) and operating assessment (paid to Co-op) for each Unit Type. The suggested Income to Qualify amounts are not firm eligibility standards.
Cost Calculator 2
Homeownership Made Easy
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NEW Parkchester January 1, 2023 Unit Types |
Share Price Effective Feb. 1 2020 * |
Minimum Earnest Deposit (Settlement |
CO-OP LOAN Deferred Payment 20% |
LENDER SHARE LOAN Est. Amount 80% |
Monthly Operating Assessment Effective Jan 1 2023* |
Monthly Share Loan Est. Payment Interest Rate |
Est. Monthly Housing Cost Operating |
Est. Income to Qualify @30% |
| 1 Bedroom | $129900 | -$1300 | -$25980 | $100920 | $210 | $727 | $937 | $37480 |
| 1 BR Deluxe | $159900 | -$1600 | -$31980 | $127920 | $300 | $894 | $1194 | $47760 |
| 2 Bedroom | $169900 | -$1700 | -$33980 | $135920 | $300 | $950 | $1250 | $50000 |
| 2 BR Deluxe | $209900 | -$2100 | -$41980 | $167920 | $360 | 1,74 | $1534 | $61360 |
| Sold Out | Sold Out | -$46980 | Sold Out | $425 | Sold Out | Sold Out | $64511 | |
| 3 Bedroom, 2 Bath | Sold Out | Sold Out | -$39980 | Sold Out | $425 | Sold Out | Sold Out | $74812 |
| 3 BR Deluxe, 2 Bath | $279900 | -$2800 | -$55980 | $223920 | $455 | $1594 | $2049 | $81960 |
| 3 BR, 2 Bath Jumbo | $289900 | -$2900 | -$57980 | $231920 | $485 | $1622 | $2135 | $85400 |
| 3 BR, 2 Ba Jumbo Premium | $294900 | -$2950 | -$58980 | $235920 | $485 | $1650 | $2135 | $85400 |
| 4 Bedroom, 2 Bath | $269900 | -$2700 | -$53980 | $215920 | $485 | $1510 | $1995 | $79800 |
| -$500 for HPAP | Paid to CO-OP | Paid to LENDER | COMBINED |
Notes:
- Prices Adjusted 5% for Buyers with incomes above DHCD Limits.
- Specific Units subject to $5,000 premium for extra size or view
Prices Effective Feb 1, 2020, - These estimates assume 20% down payment deferred loan from Cooperative (due at sale, cash back refinancing or sublease without
approval). - Operating Assessments include real estate taxes, water, sewer, trash, common area maintenance, insurance, management, replacement
reserve, CPA reviews and tax returns, etc. - Housing Cost includes monthly Operating Assessment to Co-op plus Estimated Share Loan payment to lender
- Share loan from lender may include some closing costs and have different interest rate, loan terms or income requirements
- If Buyers use Eisen and Rome for settlement and provide seller with appraisal before settlement, the seller/Co-op will pay legal, settlement
fee, transfer fee and contribute $900 credit at settlement towards application and appraisal costs.