Seeking NY Portfolio Lender for co-op purchase

Started by ericsli86
about 12 years ago
Posts: 0
Member since: Dec 2011
Discussion about
My wife and I are interested in purchasing a co-op in upper Manhattan but have had difficulty securing financing from the big banks like Chase. Although we have a combined income of $210,00-$240,000 and our debt to income ratio would be less than 20% we have been denied financing because I suffered a bankruptcy and ensuing foreclosure nearly five years ago prior to meeting my wife. FHA programs require 7 years since bankruptcy/foreclosure before they'll issue a loan. For this reason we need a portfolio lender who will hold the loan. Does anyone have suggestions for NY based portfolio lenders that finance mortgages for co-op purchases?