Home Buying in 23517>Question Details

Lyn, Home Buyer in 23517

we are looking into a co op property

Asked by Lyn, 23517 Wed Apr 11, 2012

do you do co op loans

Help the community by answering this question:


The larger lenders who handle co-ops, Wells Fargo, Chase and Citimortgage, do not handle co-ops in Virginia. It is possible that NCB, National Cooperative Bank, still handles co-ops there. I have not checked with them in a long time now that we have to be licensed in each state in order to handle loans in them.
0 votes Thank Flag Link Wed Apr 11, 2012
Lyn, You struck on the biggest issue with co-ops, financing. There have been a couple of institutions locally that did loans, but both have stopped, at this point. I would suggest you talk to your banker and ask if there are resources they have. Sometimes small local banks are the best bet. Call me and I can put you in touch with one or two, if you don't already have a relationship.


Doug Knack
William E Wood and Associates
Licensed in Virginia
0 votes Thank Flag Link Wed Apr 11, 2012
Hi Lyn, I pulled up the 16 available for sale co-op properties in the MLS and one of the agents listed a contact to obtain financing: Financing available at Towne Bank Mortgage Diana Glasier 757-409-6301
If I can be of further help with your purchase, or to help you evaluate co-op vs other forms of property ownership, feel free to contact me.
Best, KK German, Wainwright Real Estate, 757-714-2335
Web Reference: http://www.kkgerman.com
0 votes Thank Flag Link Wed Apr 11, 2012
Contact me and I will email you some information of the local Co-op's in the area. Of Course they are very nice properties and I will love to help you find the right one.

Kevin Monette
William E. Wood At The Mall
0 votes Thank Flag Link Wed Apr 11, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer