Housing cooperatives
I live in California, recently moved from Bronx, NY. I used to live in a Housing cooperative and sold my share when I moved to CA. I would like to know if I would still qualify for a 1st time home buyer in CA as i understand a co-op is an interest in the corporation, and not the property. I have good credit, 640, income is $76k/ manually plus annually bonus in July and i have low debt, $3k/month. Thanks guys! by JoyceMShellworth468 from Fairfield, California. Jul 12th 2018
Shane Milne (ShanetheMortgageMan)
#857 ranked lender in California - 16 contributions
Hi Joyce, are you asking if you'd be considered a first time homebuyer for something specific? Even though a co-op isn't technically real estate, owning a co-op is still considering owning a home. If you've owned a home in the last 3 years then you aren't considered a first time homebuyer. There are many programs that don't require you to be a first time homebuyer though. I'd be happy to help you go over your options if you wish. Shane Milne, shane@thebesthomeloans.com, 949-322-3616.
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