K, Home Buyer in Los Angeles, CA

Who finances co-ops in Los Angeles? Any realtors that specialize?

Asked by K, Los Angeles, CA Tue Apr 29, 2008

I'm interested in a co-op situation in LA: duplex, 4-plex, etc. I heard that CalFHA will not finance. Any special programs in the city of LA so that middle income people can get together on this?

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5
Brad Korb, Agent, Burbank, CA
Sat Apr 5, 2014
I have found the best source for financing co-ops is to find the past sales in the complex that you are buying in,there is usually 1-2 lenders that have lent in the project before & are very familiar with the project & will make it fairly easy to get a loan ! Good Luck !
0 votes
Chris Hendri…, Mortgage Broker Or Lender, Westlake Village, CA
Thu Apr 3, 2014
We can finance co-op's, for purchase or refinance- up to 80% of the purchase price or value. Give me a call, 818-665-6066.
0 votes
inna ivchenko, Agent, Calabasas, CA
Sat Jun 15, 2013
Any realtor can assist you to help/buy co-op, but every coop has its restrictions who can buy and with how much down payment. And only few lenders would be able to finance a coop( no FHA)
Yet, I never heard of duplex, 4-plex, etc. coops in LA, I'm curious, do you have an address?
0 votes
Revi Mendels…, , 90210
Wed Apr 30, 2008
I had a co-op listing last year and we referred people to Jessalyn Shuey of Maritime Mortgage
Tel. 866/348-COOP (2667)Fax. 949/248-1473.
I believe that ultimately the National Co-Op Bank does all or most of the co-op financing.
They usually require a larger down payment than traditional lenders and their rates are not as competitive.
The upside is that Co-Ops generally sell for less than condo's, so you are likely able to get a pretty good deal on a co-op.
Best of Luck!
Regards,
Revi Mendelsohn, Realtor
President's Circle Award Recipient
Coldwell Banker Beverly Hills East

9388 Santa Monica Blvd.
Beverly Hills, CA 90210
Email: Revi@ReviMendelsohn.com
Phone: 310-838-3056
Fax: 310-388-1101

Integrity, Reliability, and Outstanding Customer Service.
0 votes
Ron Deutsch, , Los Angeles, CA
Tue Apr 29, 2008
I can shed some light on this subject. Call or email me and I'd be happy to talk about this further with you.
Web Reference:  http://rd.la
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