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The debt-to-income ratio preferred by co-ops, employment contingencies, & more

Published March 24, 2023 (about 3 years ago) · Updated 3 months ago
Busy crowds of people walking across the street at 7th Avenue in the Greenwich Village neighborhood of New York City NYC
This week, Brick Underground readers checked out our discussion of the debt-to-income ratio required by New York City co-op boards. As senior writer Emily Myers explains, your debt-to-income ratio should ideally be in the range of 22 to 24 percent if you want to buy a NYC co-op. If you don’t fall within that range—the article explains ways to reduce your debt.
Also of interest: Buyers unnerved by the banking crisis are asking for employment contingencies. One source tells us that a funding contingency may be a better option.
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