Skip Navigation
StreetEasy Logo

Easy Mortgage Banks

Started by Ro17
almost 13 years ago
Posts: 5
Member since: Oct 2011
Discussion about
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?
Response by Snuffles
almost 13 years ago
Posts: 173
Member since: Apr 2010

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.

Ignored comment. Unhide
Response by pencap75
almost 13 years ago
Posts: 59
Member since: Feb 2011

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.

Ignored comment. Unhide
Response by sammy300
almost 13 years ago
Posts: 208
Member since: Mar 2012

Flagstar; Hudson City Savings Bank; Apple Bank

Ignored comment. Unhide
Response by Bernie123
almost 13 years ago
Posts: 281
Member since: Apr 2009

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.

Ignored comment. Unhide
Response by streetsmart
almost 13 years ago
Posts: 883
Member since: Apr 2009
Ignored comment. Unhide
Response by shong
almost 13 years ago
Posts: 616
Member since: Apr 2008

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.

Ignored comment. Unhide
Response by caonima
almost 13 years ago
Posts: 815
Member since: Apr 2010

For condo purchase mortgage, PenFed vs Wells Fargo, which one is better?

in terms of closing costs?

Ignored comment. Unhide
Response by caonima
almost 13 years ago
Posts: 815
Member since: Apr 2010

For condo purchase mortgage, PenFed vs Wells Fargo, which one is better?

in terms of closing costs?

Ignored comment. Unhide

Add Your Comment