Maryland Lenders who finance a Cooperative building

Posted by BJ Matson on Thursday, November 29th, 2012 at 1:58pm.

Co-op Financing

MARYLAND
Joe Giampetroni

BB&T Bank
Assistant Vice President
NMLS #415239
301-509-6905 cell
301-590-2381 office

-- Their co-op product goes as high as 90% LTV. In other words, the buyer must put at least 10% down.
-- $0
No monthly mortgage insurance with this co-op product
(If this were a condo building (not a co-op) and financed with an FHA loan, the mortgage insurance would be 1.25% of loan amount/12= $260/month on a $250,000 loan)

-----

Dan Caplan
Monument Bank
7401 Wisconsin Ave.
Suite 400
Bethesda, Md.  20814
301-841-9583

Dan is very familiar with the Promenade Towers.  In fact, was Treasurer there at one point.

 

Leisure World,  Montgomery Mutual;

(1) Bank of America
Bethesda Home Loan Center 301-571-1467

(2) PNC Bank
JeanMarie Pace – PNC Financial Services
110 Thomas Jefferson Dr., Ste. 100
Frederick, MD 21701
202-271-1833 cell
jeanmarie.pace@pncmortgage.com

(3) M&T Bank
Brendan Reed 301-846-2076
Brian Rice 301-846-2074 phone
195 Thomas Johnson Dr. Frederick, MD 21702

(4) NCB – NATIONAL COOPERATIVE BANK
Brittany Baldwin 202-349-7455
General No. 800-322-1251
1725 Eye St. NW
Suite 600
Washington, DC 20006



WASHINGTON D.C.

Skip Kittleson
TD Bank
301-252-7924 office
301-801-6709 cell
NMLS # 658891

 

 

 

 

 

 

 

 

 

 

By BJ Matson
Olney, Maryland
301-881-8900  call / text
bj@bjmatson.com

1 Response to "Maryland Lenders who finance a Cooperative building"

Girard Gurgick wrote: Do these banks finance individual purchases of shares in a coop or the entire building? Can you get the entire building refinanced at a lower rate. Is there a lender who will consent to a PACE Loan?

Since the shares are owned can the shareholders gain consent for a PACE loan.

Is there a better way to finance a $1,000,000 green energy efficient upgrade to the central plant?

Posted on Wednesday, August 30th, 2017 at 8:01am.

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