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.
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.
Home equity loans make sense by using lower interest rates to finance home improvement, college tuition or many other large purchases.For more information visit http://www.homeequityloansau.com/
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.
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.
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.
You are being given incorrect information. You CAN get a home equity line of credit on your co-op.