Cash Out on a Co op in NYC ?

Banks are strictly focused on non bonused salaries.
Equity loans are at the bottom of the bottom list.

Could give Wells Fargo a try. Also a local community bank.

I have called a few community banks, so far no interest on their side. Will try Wells. thanks

if it is paid off, how much are you looking to take out for them to turn you down? If you want less than 50% of appraised value, i do not see why the bank that you currently have a relationship with would turn you down.

I dont see why lenders would have a problem with this. We allow cash out of up to 80% loan to value up to a 417k loan amount. You should also find out if your coop will allow this and what amount they may approve for. sunny.hong@bankofamerica.com

Yeah, as Sunny states, you should be able to either structure a mortgage or alternatively set up a HELOC at any bank in your area. May be easier at the larger banks.

Should of and could of don't see why not are all perfectly logical repsonses. However, today's real life "what a bank is actually doing" is an alternate reality.

Alex, as sunny (shong) is the only banker posting here, it sounds like she's offering an opportunity.
I'd send her an email

he's/him

oh! apologies Sunny

FYI, I have worked with Sunny previously (on a downtown purchase) and he's fantastic.

ali r.
DG Neary Realty

I didn't end up refi-ing with Sunny, but the rates were good. I went back to my current lender and they had to match + pay all closing costs.

no worries truthskr, i get that all the time. Im used to it now.

Mortgage broker here does loans with Wells Fargo.
212-786-9682.

IF you're getting a co-op refinance, I would check to see what the board's policy is about refinancing.

Without a board's approval, there's no loan.