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Where to get financing for investment in a co-op

Started by warren123
over 13 years ago
Posts: 0
Member since: Mar 2011
Discussion about
Hello, I am looking to purchase a co-op for investment purposes but seems like most banks won't provide a loan because Freddie and Fannie don't allow financing for co-op as an investment property. Anyone has any advice about what are some other ways to get financing? Through commercial lenders or private lenders? Any contacts will be appreciated. Thank you.
Response by sjketterer
over 13 years ago
Posts: 2
Member since: Sep 2010

We financed our co-op through HSBC. Our mortgage guy there was terrific: Joe Dalessio, 212-378-1915. Very responsive and imaginative. Highly recommend him!
Steve

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Response by zzhao
over 13 years ago
Posts: 10
Member since: Jun 2009

you might be better off looking at condos. co-op have strict rental policies unless you get a sponsor unit.

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