Property Investment : what is wrong with coop financing ?

go back to condo.

If you claim it's a primary residence and you lie, it's mortgage fraud and it's a felony. One place where you're likely to get caught is on the insurance side, because if you rent the place out with it insured as a primary, and your tenant sets the place on fire, your insurance claim is going to be denied.

ali r.
{downtown broker}

I doubt Fannie Mae finances condo purchases that are for investment.

coop mortgages are scary for banks because the mortgage is junior debt. the coop gets paid first for any money due to it should a foreclosure happen, the mortgage holder is second on line. everyone is looking out for their own interests at the moment. you should call the banks directly, don't just use a mortgage broker. i'm not sure the door is completely close on this type of transaction especially if you place a large down.