At Coops.nyc, we recently had the pleasure of facilitating the closing of a Florida co-op apartment in just 32 days for a newly created LLC. The loan amount of $1.2 million was secured with a fixed rate interest-only term, using 12-month business bank statements as income verification. Despite initial struggles with other lenders due to the LLC’s newness and change in ownership, our thorough analysis of their financial records allowed us to approve the loan confidently.
- Loan Amount: $1.2 Million
- FICO: 718
- LTV: 47%
- Term: Fixed rate interest-only
- Income Type Used: 12-month business bank statements
- Property Type: Co-op
With a steady income from repeat business and real estate investors, we were able to swiftly close the deal and help our clients broaden their business prospects. Contact our office and speak to a Co-op specialist who can guide you in the right direction.
