Mrotgage approval for small co-op

It wouldn't matter how great your financials are if the coop financials are terrible. Deficits or losses from year to year is acceptable but it depends how much. Is the loss in 2009 more 15% of the annual budget? Also, when you say small coop, how many units are you referring to? sunny.hong@bankofamerica.com

Thanks s.hong. A 30k loss in 2009, about 9% of the budget...would that pass muster? The coop has eight units. What are the chances?

Actually, if we account for depreciation and refinancing costs, the loss is 30% of the budget.

We can probably get past the depreciation and if the refi cost was just that one year then it may be ok. 8 units is fine by us. Seems like it could work. If you email me the name or address of the coop I can see if its already approved in our system. Thanks.