Maryland Lenders who finance a Cooperative building

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

Co-op Financing

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

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

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

Brittany Baldwin 202-349-7455
General No. 800-322-1251
1725 Eye St. NW
Suite 600
Washington, DC 20006


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











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2 Responses 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.

Cecil Snyder Jr wrote: Have a mobile home in West Ocean City, Maryland that is in a Co-op Park I need a cooperative loan for 56000 to buy 120 stock shares for the lot the mobile sits on. I already own the mobile home that is on the co-op lot. Can you please advise.

Posted on Tuesday, April 30th, 2019 at 5:30pm.

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