Investment Co-op Home Mortgage

An investment cooperative (also known as a co-op) home mortgage is a loan for the purchase of an entire residential or commercial building or property, that is owned and operated by a non-profit corporation. To participate in the co-op, members purchase shares, and profits and earnings generated by the co-op are then distributed among the members.

Salient Features of a Co-op Mortgage

• The Cooperative Corporation is the only registered owner of the property (registered on title). The member does not own unit but acquires shares in the corporation.
• Corporation owns and manages the affairs of the building on behalf of the shareholders according to the Cooperative/ Shareholder/ Occupancy Agreement.
• Shareholder gets exclusive occupation rights of a specific unit.
• You only need a 620 credit score to qualify, however better score can earn you better price options.

The advantages our Co-op program offers include:

• Can be used for purchase or refinance
• Financing up to 80% of the appraised value of the co-op or co-ownership
• Amortization up to 30 years
• Loan terms of 1 - 5 years
• Up to 65% loan to value for Cashout Refinances
• Fixed and variable interest rates

Premium Mortgage Demo brings decades of experience to the table and is proud to guide you through every step of a mortgage loan process. Whether you're looking to purchase, refinance or cash-out, Premium Mortgage Demo has the knowledge and expertise to help you achieve your financial goals.

Have questions? Reach out to us by phone at 877 123 XXXX or click the button below to request a free consultation with one of our mortgage advisors.

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