What are my loan options for co-op properties?

Conventional financing is available, Fannie Mae will only purchase loans secured by ownership shares in qualified projects and only from lenders specifically approved to originate such loans. VA & FHA do not lend on co-ops. I would encourage you to look at a different property. With so few lenders willing or able to lend on such a purchase, you could end up stuck owning it forever. Part of every body's due diligence in making a purchase is to make sure you have an exit strategy. The fewer loan options there are, the smaller the pool of potential buyers. This could make it difficult or possibly even impossible to unload the property when you are ready to sell. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.