We Know Condos & Co-Ops Like No Other
Purchase or refinance new or non-warrantable condos or co-ops.
Simple, fast, and hassle-free.
Condo & Co-op Loan Solutions
Unlike traditional mortgages, when you finance a co-op apartment there is no property deed involved. Instead, your co-op loan, or “share loan”, is used to buy shares of stock in a housing cooperative corporation which owns the building in which your desired apartment is located. Owning shares in the co-op corporation results in your being granted a long-term exclusive lease, or “Proprietary Lease”, on an apartment in the building. As a shareholder, or partial owner in the co-op corporation, you will be responsible to pay a monthly maintenance fee which covers your pro-rata portion of the building’s property taxes, interest expense, insurance costs and operating expenses.
Because co-ops are somewhat more complex that other types of real estate, not all lenders offer co-op loans, but Quontic is a community bank headquartered in New York City—where co-ops are abundant. As such, we understand the ins and outs of co-op lending and have developed a range of borrowing solutions specifically for these unique properties.
Contact Us Today
For questions or additional information, contact a Quontic Bank loan officer – or reach us via online form, email, or phone. Please fill out the from below or email us at email@example.com.
Find a Loan Officer
Review a list of our Loan Officer specialists and contact them directly.
Please fill out the form below.
If your reported income isn’t enough to get you the mortgage you need, our Owner Occupied can help.
Do more with your home investment through a Home Equity Conversion Mortgage from Quontic.
Non-U.S. citizens can get their home away from home with Quontic’s Foreign National mortgage.
All lending products are subject to credit & property approval. Rates, program terms, & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply. Prequalification provides you with an estimate of how much you can borrow to purchase a home, based on our preliminary review of credit information. This does not represent an offer to enter into a loan agreement. Information is accurate as of the date listed below and may change without notice.