Understanding Co-op Home Loans

kg coop refinanceComparing Co-ops and Traditional Mortgages

It is no secret that cooperative mortgages, known as co-ops, are far different than traditional mortgages. Commonly referred to as a “share loan”, co-ops are not individual loans for the right to own a property, but the loans give you the right to own a share in the co-op. Since co-ops work in a different way than traditional mortgages, a limited number of lenders offer “share loans”, and if you wish to refinance your loan, it can get even trickier.

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No Income Loans in Kew Gardens

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MortgageDepot Specializes in No Income Verification Loans

Most banks today run away from borrowers needing non-traditional loans. Instead of looking out for their customers and doing what’s best for their communities, they look for the easiest ways to serve their own interests. That’s what makes MortgageDepot different. Proudly located in Kew Gardens, in the Silver Towers Building, MortgageDepot actually specializes in non-traditional mortgage financing. They’re even providing No Income Verification Mortgages right now to borrowers with a 30% down payment. Continue reading »

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