Financing in San Diego>Question Details

Mitchell Hall, Real Estate Pro in New York, NY

Are there any lenders in CA that will do a 1st & 2nd or offer a HELO for a NYC coop?

Asked by Mitchell Hall, New York, NY Fri May 18, 2007

Chase and Citibank are the only banks that I know of to offer HELO for coops.

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Great question, Mitch. The answer is yes but most of us, outside of San Francisco, don't really know how to do those loans well. It's not rocket science, it's just becoming familiar with the undewriting guidelines but a San Fran mortgage broker will understand that property type better.
Web Reference: http://brian-brady.com
4 votes Thank Flag Link Fri May 18, 2007
Thank you Brian that is really good to know,
3 votes Thank Flag Link Wed May 23, 2007
Mitchell Hall, Real Estate Pro in New York, NY
MVP'08
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