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Financing for pied a terre in Manhattan co-op

Started by Bobberb
over 11 years ago
Posts: 3
Member since: Apr 2009
Discussion about
Live in Brooklyn trying to get financing for pied a terre in Manhattan co-op--- My bank is saying that the co-op would not qualify as a second home if it is within 50 miles of my primary residence. Thus it would be considered an investment property. But since it is a co-op they won't finance it as an investment property. Any suggestions? On all other measures, I am a solid loan candidate.
Response by Flutistic
over 11 years ago
Posts: 516
Member since: Apr 2007

Guardhill Financial, mortgage brokers, Alan Traub

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Response by corozeng5
over 11 years ago
Posts: 36
Member since: Nov 2009

I've had two pied a terres within 50 miles of Manhattan. Both were c-ops and got mortgages with two difference major banks. Had no problems. Check other banks.

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Response by streetsmart
over 11 years ago
Posts: 883
Member since: Apr 2009

Ellen Silverman
E.S. Funding Co.
Licensed Mortgage Bkr.
NMLS#60631
www.esfunding.instantlender.com

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Response by Riccardo65
over 11 years ago
Posts: 347
Member since: Jan 2011

corozeng5 is too lazy to spell out co-op. C-op. Isn't that cute? Must be a moron....................

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