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Recommended Lenders for Coop financing in Brooklyn?

Recently signed a purchase agreement for a coop and the mortgage broker that I was referred to is unable to work with these types of properties.

Where can I find a reputable lender for coops?
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February 13 - Brooklyn
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Answers (3)

Hi,

I work for a Direct Lender with offices located in NYC.  I have the ability to offer Coop loans anywhere in NY and have extremely competitive rates.  I would love to hear your scenario and put together a full breakdown of rates and closing costs.

When you get a minute please feel free to contact me by my profile!

Good Luck!!!

Steve  
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February 20
Hi there

Sometimes financing can be a little more cumbersome in a Co-op. In effect you are buying shares and proprietary lease to live in the unit, your shares are collateral and sometimes they are not as "liquid" as other forms of real estate, also the building financial or physical standing can affect a possible loan. all these factors can also reflect in your mortage terms

If you want to, you can give/email me the exact name of the owners corp as well as the actual property address and we can check to see about lending terms in this Co-op,, I hope this helped you a little and please Feel free to reach out 2 me and Good Luck..!!
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February 13
I can and have closed many coop's recently! It's important that you work with a lender that knows what they are doing because coop transactions differ from other property types.

Please contact me through my profile if you would like to discuss your loan scenario, I'd love toe help if given the opportunity.

Thanks
Ed
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February 13
 
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