When it comes to financing options for cooperative apartments, the landscape can often be quite complex and restrictive. Traditional financing solutions might not cover every scenario, leaving potential homeowners and investors searching for alternative avenues to secure their dream property. That’s where we come in. At MortgageDepot, we understand the unique challenges associated with non-warrantable co-op financing, and we’re here to help you navigate this territory with confidence. With our specialized Non-Warrantable Co-op Financing program, we empower you to embrace opportunities that were previously out of reach. Let’s explore the program highlights that set us apart and make your co-op ownership dreams a reality.
Program Highlights: Unlocking the Potential
Our Non-Warrantable Co-op Financing program is designed to break down barriers and open doors for individuals seeking to finance non-warrantable cooperative units. Here’s why this program could be your key to success:
- Generous Loan Sizes:
We offer loan sizes of up to $5,000,000, giving you the flexibility to invest in premium properties without limitations.
- Cash-Out Refinancing:
Say goodbye to seasoning requirements and caps on cash in hand. Our program allows for hassle-free cash-out refinances.
- Investment Units:
Even if you’re eyeing an investment property, our program welcomes cash-out opportunities, making it easier to leverage your investments for further growth.
- High Loan-to-Value Ratios (LTVs):
Enjoy LTVs of up to 80%, minimizing the burden of high down payments and maximizing your financial flexibility.
- Diverse Acceptance Criteria:
Almost all reasons for non-warrantability are considered, except for structural or construction litigation, making the program inclusive and accommodating.
- Gifted Down Payment and Reserves:
We understand that sometimes assistance is needed. Our program allows for gifted down payments and reserves, even for investment properties.
- LLC Closings:
For investment units, we recognize the importance of different ownership structures. LLC closings are accepted, adding an extra layer of flexibility.
- Wide Range of Borrowers:
Our program caters to a diverse range of borrowers, including those with no credit history, work visas, EAD/work authorizations, and foreign nationals.
- Compact Units Welcome:
Don’t let the size of your desired co-op hold you back. Units under 500 square feet are welcome in our program.
- Combinable Programs:
You can combine our Non-Warrantable Co-op Financing with other Advancial Programs, including asset depletion, to tailor your financing strategy even further.
- Nationwide Availability:
Our program knows no geographical boundaries, being available in all 50 states and the District of Columbia.
- Effortless Pre-Approvals:
Gain peace of mind with pre-approvals for both you and the co-op complex, streamlining the purchasing process.
- Rush Closings:
We understand that time is often of the essence. With our rush closing option, we’re dedicated to saving your loans and meeting tight deadlines.
Unlocking Opportunities with MortgageDepot
At MortgageDepot, we’re not just another mortgage provider; we’re your partner in achieving your co-op ownership aspirations. Our Non-Warrantable Co-op Financing program showcases our commitment to innovation, inclusivity, and flexibility, enabling you to turn non-warrantable co-ops into attractive investment and living opportunities. With our expertise and dedication to serving your needs, we’re here to guide you through every step of the financing journey, from application to closing.
In the complex world of non-warrantable co-op financing, MortgageDepot stands as your beacon of possibility. Whether you’re a seasoned investor or a first-time homebuyer, we have the tools, programs, and expertise to make your dreams a reality. Contact us today and let’s embark on the path to co-op ownership together. With MortgageDepot by your side, the doors to non-warrantable co-op financing are wide open.
Connect with one of our loan consultants to learn more.