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Easy Mortgage Banks
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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. sunny.hong@decapitalmortgage.com.

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