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January 7, 2008
Co-op and Home Equity Loan
Sorry for the off topic. Would anyone know if you are able to get a home equity loan on your co-op. I am being told you cannot since it is not real property and you only have shares in corporation.
Comments
You are being given incorrect information. You CAN get a home equity line of credit on your co-op.
Posted by: zeebee_in_bklyn at January 7, 2008 6:15 PM
Not all banks give home equity loans on coops but a few do. I recently went with Citibank but the process of dealing with them was absolutely horrible. Go with another bank and save yourself the aggravation.
Posted by: guest at January 7, 2008 6:25 PM
You can certainly get a HELOC for a co-op apartment; I currently have one through Citibank. I was actually looking into refinancing today and found that Chase's rates and terms are more competitive than Citi's.
Posted by: guest at January 7, 2008 8:07 PM
I got a Heloc from wamu for my co-op and it is a small co-op (6 units). They are new at it and the process was a little messier than I would have prefered. But they are nice their. I would go to the bank rather than call.
Posted by: guest at January 8, 2008 2:24 PM
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