Non-Warrantable Co-op Financing
As a company that specializes in co-op financing, we have emerged as the leading company offering Non-Warrantable Co-op financing for those buildings that do not meet Fannie Mae and Freddie Mac lending guidelines.
Here are a few ways that make a building non-warrantable:
The community permits various types of short-term rentals.
The project is still in the construction stage, meaning it has not yet been completed.
The developer of the co-op must transfer control to the actual owners.
A single indivisual or entity owns more than 10% of the total number of homes in the community.
A significant portion of the homes in the co-op are occupied by non-owners.
The property owners and/or developers are engaged in litigation concerning the property.
Key Program Highlights:
Loan-to-value ratios (LTVs) can go up to 80% providing you with a higher borrowing capacity.
Loan sizes up to $5,000,000, including the option for cash-out refinances with no cap on cash in hand.
No seasoning required for cash-out refinances, allowing you to access your funds without any restrictions.
Cash-out is allowed on investment units, giving you the flexibility to use your property as an investment tool.
We consider all reasons for non-warrantibility, except for cases involving structural or construction litigation.
Gifted down payments and reserves are allowed, including for investment purposes, making it easier for you to secure financing.
We facilitate LLC closings for investment units, ensuring a smooth and efficient process for your real estate investments.
Units under 500 square feet are also eligible for financing, allowing you to explore a wide range of property options.
We welcome borrowers with no credit history, as well as those with work visas, EAD/work authorizations, and foreign nationals.
