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Financing for coop investment

Started by bpcbuyerconfused
over 7 years ago
Posts: 85
Member since: Oct 2013
Discussion about
Can anyone recommend a lender who will finance a coop investment? This coop is investor friendly and allows renting from day 1. I've already spoken to conventional banks and they all have issues for obvious reasons. FYI I'm putting 50% cash down and expect to fully repay the mortgage within 3 years
Response by LuxuryBroker
over 7 years ago
Posts: 66
Member since: Jul 2017

Try an asset based loan with JPM, 25% of your liquid assets.

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Response by 300_mercer
over 7 years ago
Posts: 10570
Member since: Feb 2007

Bpc, Most bank finance this if you have private banking relationship. First Republic will likely do it.

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Response by bpcbuyerconfused
over 7 years ago
Posts: 85
Member since: Oct 2013

thanks both will try these options

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Response by streetsmart
over 7 years ago
Posts: 883
Member since: Apr 2009

I have a few lenders that do non warrantable condos and co-ops. Information on the condo or co-op questionnaire is a major deciding factor for doing the loan. Feel free to forward a generic questionnaire to me for lender feedback.
Ellen Silverman
E. S. Funding Co.
Licensed Mortgage Broker since 1990
NMLS#60631
esfundingco@aol.com

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