10% down co-op at 203 E 89th

The co-op is probably ok with it otherwise the broker would not sell it that way(presumably). The bank would be the real hurdle. Its been done before.

> The co-op is probably ok with it otherwise the broker would not sell it that way(presumably). The bank would be the real hurdle. Its been done before.

Thanks for the info. Any idea which banks have done 10% down?

More than likely it's a sponsor sale that doesn't go through the board.

I have done many co-op loans at a 90% loan to value. As long as the co-op is okay with it - Chase is okay with it. You will need to have private mortgage insurance (PMI) and be credit worthy - Feel free to reach out.
Thomas Scarlato
917-445-8617
thomas.scarlato@chase.com
NMLS-626101

no idea which banks but I would like to hear if anyone has had experience with a bank that has lent 90% in a Manhattan co-op.

Most banks don't do 90% mortgages; they do "80-10-10" mortgages, meaning 10% down, 80% mortgage, and a 10% home equity loan/line of credit.

I can do 95% financing on a coop loan for purchase with a FICO score of 680.

Ellen Silverman
E.S. Funding Co.
Licensed mortgage broker since 1990
Licensed real estate broker since 1987
www.esfunding.instantlender.com
NMLS # 60631