Underlying Co-Op Financing
$1,000,000 Minimum

Underlying Cooperative Mortgage Loan Rates - Rates updated October 20th, 2021

Loan Product Starting Rates Amortization
10 Year Fixed Rates as low as 2.99% 30 Year or Interest Only Get Free Quote
Underlying Co-Op Financing Underlying Coop Financing

Co-operative financing (or co-op financing) is a specialized niche within the apartment or multi-family financing sector. It would help to start with an understanding of what a co-op is and how it differs from a regular apartment or condominium. A co-op is a multi-family building which is owned by a co-operative association and managed or controlled by a co-op board. When a purchaser buys an individual co-op unit, he is not actually buying real estate. He is purchasing shares in the co-operative association and granted the right to occupy the apartment under a proprietary lease for that apartment. The physical units and all of the common areas are owned by the co-op association. Most co-ops have an underlying loan or underlying mortgage on the entire building. The monthly payment for this underlying loan is shared by all of the shareholders in the form of monthly maintenance. A portion of the monthly maintenance in a co-op is used to pay the principal and interest for the co-operative’s underlying mortgage. This has nothing to do with an individual loan that a unit owner might have with a local residential lender on his individual unit.

Select Commercial has a specialty in providing underlying loans or underlying mortgages to assist co-op buildings. We do not, however, finance individual co-op apartments for individual owners. We provide co-op financing from $1,000,000 at excellent fixed rates. We typically offer fixed rates for 10-15 years and 30-year amortizations. We can also offer interest-only loans on a case by case basis. Our coop financing is very competitively priced, and we can usually close within 45 days from application.

We are a nationwide commercial mortgage broker specializing in all types of commercial mortgage loans, apartment loans, Freddie Mac Multifamily Loans, and credit tenant lease loans

Our Underlying Co-op Loan Benefits

Underlying co-op loan rates start as low as as low as 2.99%% (as of October 20th, 2021)
• No upfront application or processing fees
• Simplified application process
• Financing up to 80% LTV
• Terms and amortizations up to 30 years
• Long term fixed rates
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation

Recent TRUSTPILOT Reviews

Select Commercial Funding Reviews from TRUSTPILOT

A three year journey
"Thanks Stephen for all of your hard work in getting our deal closed! I appreciate your professionalism and patience throughout a complicated process. You always were there for my partner and I whenever we had questions and needed answers quick. It was a pleasure to have worked with you and Select Commercial!"

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