UrbanBaby

07.11.08, 06:36 AM New York City
4 replies

Anyone buying a coop and looking for a mortgage? Just wondering your experience is particularly hard. Reading lots of bad things about Fannie Mae, etc, concerned it will affect our ability to get a mortgage. [ Reply | Watch | Flag ]
New York City 07.11.08, 06:36 AM Flag

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I am not, but I don't think the government would let Fannie Mae go under. There would literally be pretty much no bank willing to give people mortgages if this was the situation. [ Reply | More

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General Topics 07.11.08, 07:13 AM Flag

If you have excellent credit and assets you won't have a problem getting a mortgage. We just did [ Reply | More

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General Topics 07.11.08, 07:15 AM Flag

Coops tend to be much pickier and more conservative about your finances than a bank is - and most coops restrict the % you can borrow, even more so that an bank will, so if you can buy a coop you probably won't have any issues. [ Reply | More

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General Topics 07.11.08, 07:36 AM Flag

OP Here - I think it may just be a matter of price as opposed to availability, which could screw up our budgeting. [ Reply | More

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General Topics 07.11.08, 07:38 AM Flag