Did you know that it’s possible to refinance your co-op mortgage? Most co-op owners never even consider this possibility, but it’s one that could potentially save you money with a lower interest rate, or allow you to pull out cash in order to achieve some other goals such as education or other investments.
Of course co-op refinance isn’t something that just any company can help with. At MortgageDepot, we’re the leading experts on this specialized form of mortgage financing, co-op financing. Because of our location we are surrounded by co-op buildings and we have grown to be experts are co-op financing. Not only do our loan officers have years of expertise and experience with financing co-ops, we’re also able to offer the most competitive co-op refinance rates and terms. We are a wholesale broker offering wholesale rates to our clients with no hidden fees.
We offer the following terms for your co-op refinance:
- Programs are available with a FICO score as low as 650
- Whether your co-op is your primary, secondary residence or even as an investment its fine with us.
- We offer financing with a maximum Loan-to-value (LTV) as high as 95% whether your loan is for a purchase or for a rate and term refinance.
- If your co-op is your primary residence, we offer financing with a maximum LTV of 80% on a cash-out refinance, which means you can pull lots of equity from your unit.
Do you have a high balance loan? We can help you with refinancing that as well! We offer these great terms on High Balance Loans and low rates.
- For a high balance loan on a primary residence, we finance up to 90% LTV if your FICO score is at least 700, or up to 75% if your FICO score is at least 680.
- For a cash-out refinance on a high balance loan for a primary residence we finance up to 70% LTV if your FICO score is at least 700.
- For a high balance loan on a second home, we finance up to 65% LTV if your FICO score is at least 700.
With MortgageDepot you can rest assured that you’re getting the best possible deal. If you’d like to know more about refinancing the mortgage on your co-op, contact us at MortgageDepot today. We’re the co-op refinance experts!