Will lend to smaller co-ops and condos Units and sizes where banks wont. How do I find Customers

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brooklynreit

in Mortgage 13 years and 4 months ago

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adam_dahill | 13 years and 4 months ago

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Are you looking for mortgage leads? Plenty of companies sell mortgage leads. If you are a wholesale lender with a niche product you should contact area mortgage brokers. Plenty if most lenders will lend to small condos with less than 4 units, it’s the small coops that are a problem but there are a few lenders out there that are still working with small coops? That said you will sometimes have to sacrifice rate and terms for those banks but not always. It depends on what loan you are looking for and who your current lender is if you are looking for a refinance.

greenmountain | 13 years and 4 months ago

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Sometimes small coops buildings have a bathroom, or several, which are leaking and damaging other apartments, but the particular shareholders lack resources to renovate, and simple repairs by the corporation have only prolonged the problem – good money after bad. I hope some coops could would borough money to stop the damage, and ultimately save property value and stabilize a building where one or a few owners need and want new bathrooms, but can’t afford them. These sorts of renovations can be messy and expensive, involving structural repairs, and multiple systematic failures, and long deferred maintenance. If this idea interests you, please contact me to discuss it further.  I am in the directory under Tile. Green Mountain.