Printed from at 12:00 AM, Oct 5 2015
Talk » Financing » Discussing 'Easy Mortgage Banks'

Easy Mortgage Banks


Hello - Does anyone know which are the easier banks to work with these days as far as mortgage is concerned? I am looking for a jumbo loan to purchase an apartment in NYC and I am already 80% pre-approved with 2 banks. However, these 2 banks are not willing to lend to the condo building where I am looking to purchase the apartment. Hence, the question - is there any bank who is little relaxed in terms of their building requirements?

Wells Fargo worked for me when i made my purchase earlier in the year. BOA, Citi, Astoria, and a whole slew of others didn't want to lend to me b/c the building had a commercial unit that had a large sq footage. Even tho it was like a 33%LTV based on what i was putting down.

Look up Home Owner's Mortgage Express (H.O.M.E.). If you are financially strong, they seem to be more lax on the building.

Flagstar; Hudson City Savings Bank; Apple Bank

Ro17: you are the reason morgage brokers exist. They know who will lend and who won't. Better to go to a mortgage broker such as manhattan mortage rather than a direct lender.

When searching for a lender, the first question you should ask is if the condo is approved or approve-able. There are many factors that make a condo non-warrantable. It could be the commercial space, budget/reserves, etc. Did those 2 lenders tell you why they wouldnt lend in the building? Is this a new construction or established/existing building? We are an affiliate of Wells Fargo and I will be glad to do a quick search for you. We also have the ability to broker out when necessary.

Ignored comment. Unhide
Ignored comment. Unhide

Add your comment



Rentals (2,887)
Market (1,507)
Neighborhoods (630)
Boards (287)
Renovation (1,865)
Anything (2,406)
Sales (23,718)
Developments (615)
Financing (494)
Schools (105)
Brokers (368)
Services (503)