Kristen

i appreciate everyones answers. to clarify my situation, we have 20% to put down on a co-op, just not 20% to put down on a reasonable house. We have already been pre approved for a 30-year fixed rate mortgage for 250k. we also have the option of using my fiances VA loan and have looked at FHA's, but here is the catch - the majority of affordable housing for the amount we are approved for are usually in need of repair, are foreclosed or bank owned. FHA and VA loans will inspect these homes and not approve the mortgage and therefore, they are not an option for us. That is why we are considering the Co-op. if we put 20% down on a co-op, pay a low mortgage and common charges per month and are able to save more money, when we resell in 3 years, i was hoping to AT LEAST make the down payment back. i just don't know under the current market conditions if the co-op would protect our down payment or if we would lose it in the resale. i was ultimately wondering if the co-op market behaves differently from the housing market. I can't seem to find recent sales of the co-ops we will be looking at, so i don't know what they have been priced at before. - Wed Apr 23 2008, 15:09