{"id":578,"date":"2023-10-04T13:54:25","date_gmt":"2023-10-04T13:54:25","guid":{"rendered":"https:\/\/nysck.com\/coops.nyc\/?page_id=578"},"modified":"2023-11-17T14:42:16","modified_gmt":"2023-11-17T14:42:16","slug":"non-warrantable-coops","status":"publish","type":"page","link":"https:\/\/nysck.com\/coops.nyc\/non-warrantable-coops\/","title":{"rendered":"Non Warrantable Coops"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;4.22.2&#8243; background_color=&#8221;#415a77&#8243; background_image=&#8221;https:\/\/nysck.com\/coops.nyc\/wp-content\/uploads\/2023\/10\/businessman-talking-phone-min-scaled.jpg&#8221; background_blend=&#8221;overlay&#8221; background_enable_video_mp4=&#8221;off&#8221; background_enable_video_webm=&#8221;off&#8221; module_alignment=&#8221;center&#8221; min_height=&#8221;200px&#8221; min_height_tablet=&#8221;150px&#8221; min_height_phone=&#8221;100px&#8221; min_height_last_edited=&#8221;on|desktop&#8221; custom_css_before=&#8221;    content:%22%22;||    display: block;||    position: absolute;||    top: 0;||    left: 0;||    width: 100%;||    height: 100%;||    background-color: rgba(65, 90, 119, 0.70);||    z-index: 1;&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;4.22.2&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; custom_margin=&#8221;115px|auto||auto|false|false&#8221; custom_margin_tablet=&#8221;150px||||false|false&#8221; custom_margin_phone=&#8221;150px||||false|false&#8221; custom_margin_last_edited=&#8221;on|tablet&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_heading title=&#8221;Non Warrantable Co-ops&#8221; _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; title_font=&#8221;|700||on|||||&#8221; title_text_align=&#8221;center&#8221; title_text_color=&#8221;#FFFFFF&#8221; title_font_size=&#8221;80px&#8221; custom_margin=&#8221;-30px||||false|false&#8221; title_font_size_tablet=&#8221;50px&#8221; title_font_size_phone=&#8221;37px&#8221; title_font_size_last_edited=&#8221;on|tablet&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_heading][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||0px||false|false&#8221; custom_padding=&#8221;35px||16px||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;3_5,2_5&#8243; use_custom_gutter=&#8221;on&#8221; gutter_width=&#8221;2&#8243; make_equal=&#8221;on&#8221; _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||1px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;3_5&#8243; _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_heading title=&#8221;Non-Warrantable Co-Op Financing&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; title_font_size=&#8221;39px&#8221; custom_margin=&#8221;|-2px||||&#8221; custom_padding=&#8221;|0px||||&#8221; title_text_align_tablet=&#8221;&#8221; title_text_align_phone=&#8221;center&#8221; title_text_align_last_edited=&#8221;on|phone&#8221; title_font_size_tablet=&#8221;&#8221; title_font_size_phone=&#8221;20px&#8221; title_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_heading][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_line_height=&#8221;24px&#8221; text_orientation=&#8221;justified&#8221; text_orientation_tablet=&#8221;&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>As a company that specializes in co-op financing, we have emerged as the leading company offering Non-Warrantable Co-Op financing for those buildings that do not meet Fannie Mae and Freddie Mac lending guidelines.<\/p>\n<p>Here are a few ways that make a building non-warrantable:<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_line_height=&#8221;24px&#8221; text_orientation=&#8221;justified&#8221; text_orientation_tablet=&#8221;&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li>The project is still in the construction stage, meaning it has not yet been completed.<\/li>\n<li>The developer of the co-op must transfer control to the actual owners.<\/li>\n<li>A significant portion of the homes in the co-op are occupied by non-owners.<\/li>\n<li>The community permits various types of short-term rentals.<\/li>\n<li>A single indivisual or entity owns more than 10% of the total number of homes in the community.<\/li>\n<li>The property owners and\/or developers are engaged in litigation concerning the property.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_line_height=&#8221;24px&#8221; text_orientation=&#8221;justified&#8221; custom_margin=&#8221;-11px|||||&#8221; text_orientation_tablet=&#8221;&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Key Program Highlights:<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_line_height=&#8221;24px&#8221; text_orientation=&#8221;justified&#8221; text_orientation_tablet=&#8221;&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li>Loan sizes up to $5,000,000, including the option for cash-out refinances with no cap on cash in hand.<\/li>\n<li>No seasoning required for cash-out refinances, allowing you to access your funds without any restrictions.<\/li>\n<li>Cash-out is allowed on investment units, giving you the flexibility to use your property as an investment tool.<\/li>\n<li>Loan-to-value ratios (LTVs) can go up to 80% providing you with a higher borrowing capacity.<\/li>\n<li>We consider all reasons for non-warrantibility, except for cases involving structural or construction litigation.<\/li>\n<li>Gifted down payments and reserves are allowed, including for investment purposes, making it easier for you to secure financing.<\/li>\n<li>We facilitate LLC closings for investment units, ensuring a smooth and efficient process for your real estate investments.<\/li>\n<li>We welcome borrowers with no credit history, as well as those with work visas, EAD\/work authorizations, and foreign nationals.<\/li>\n<li>Units under 500 square feet are also eligible for financing, allowing you to explore a wide range of property options.<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;2_5&#8243; _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;https:\/\/nysck.com\/coops.nyc\/wp-content\/uploads\/2023\/10\/pexels-pixabay-265087.jpg&#8221; title_text=&#8221;pexels-pixabay-265087&#8243; _builder_version=&#8221;4.22.2&#8243; _module_preset=&#8221;default&#8221; border_radii=&#8221;on|20px|20px|20px|20px&#8221; box_shadow_style=&#8221;preset3&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_2,1_2&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_button button_url=&#8221;tel:2128063000&#8243; button_text=&#8221;(212) 806-3000&#8243; button_alignment=&#8221;center&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; button_text_color=&#8221;#FFFFFF&#8221; button_bg_color=&#8221;gcid-4a53c4f2-10a4-4df5-aae5-66892dee9e02&#8243; button_border_radius=&#8221;12px&#8221; custom_margin=&#8221;|||-20px|false|false&#8221; custom_padding=&#8221;|20px|||false|false&#8221; global_colors_info=&#8221;{%22gcid-4a53c4f2-10a4-4df5-aae5-66892dee9e02%22:%91%22button_bg_color%22%93}&#8221;][\/et_pb_button][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_button button_url=&#8221;https:\/\/nysck.com\/coops.nyc\/quote\/&#8221; button_text=&#8221;Fast Quote&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; button_text_color=&#8221;#FFFFFF&#8221; button_bg_color=&#8221;gcid-4a53c4f2-10a4-4df5-aae5-66892dee9e02&#8243; button_border_radius=&#8221;12px&#8221; custom_margin=&#8221;|||-260px||&#8221; global_colors_info=&#8221;{%22gcid-4a53c4f2-10a4-4df5-aae5-66892dee9e02%22:%91%22button_bg_color%22%93}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a company that specializes in co-op financing, we have emerged as the leading company offering Non-Warrantable Co-Op financing for those buildings that do not meet Fannie Mae and Freddie Mac lending guidelines. Here are a few ways that make a building non-warrantable: The project is still in the construction stage, meaning it has not [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-578","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/nysck.com\/coops.nyc\/wp-json\/wp\/v2\/pages\/578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nysck.com\/coops.nyc\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/nysck.com\/coops.nyc\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/nysck.com\/coops.nyc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nysck.com\/coops.nyc\/wp-json\/wp\/v2\/comments?post=578"}],"version-history":[{"count":22,"href":"https:\/\/nysck.com\/coops.nyc\/wp-json\/wp\/v2\/pages\/578\/revisions"}],"predecessor-version":[{"id":1487,"href":"https:\/\/nysck.com\/coops.nyc\/wp-json\/wp\/v2\/pages\/578\/revisions\/1487"}],"wp:attachment":[{"href":"https:\/\/nysck.com\/coops.nyc\/wp-json\/wp\/v2\/media?parent=578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}