CALIFORNIA CONDO MORTGAGE LENDERS CO OP, CONDO-TEL, NON WARRANTABLE CONDOS

LOS ANGELES CALIFORNIA CONDO MORTGAGE LENDERS

SAME DAY APPROVALS! CALL NOW 954-667-9110
SELF EMPLOYED MORTGAGE LENDERS QUESTIONS

Los Angeles CA Condo Lenders Platinum (Full Doc & Bank Statements)
• Up to 90% LTV with no MI
•Credit scores starting at 660
•Loans up to $3 million
• 4 years seasoning for foreclosure, short sale,bankruptcy, or deed-in-lieu
• Owner-occupied and second homes
•Interest-only available
•Cash-out available – $500,000 maximum
•Full doc and bank statements available
• 1 year tax return program available
Los Angeles CA Portfolio Select (Full Doc & Bank Statements)
• Up to 90% LTV with no MI
•Credit scores down to 600
• Loans up to $3 million
• Owner-occupied, 2nd homes, and investment properties
• 100% gift funds allowed
• 2 years seasoning for foreclosure, short sale, bankruptcy,or deed-in-lieu
•Full doc and bank statements available
•1 year tax return program available
• Asset depletion available
Los Angeles CA Non-Prime Program For Borrowers With Recent Credit Issues
• Up to 90% LTV (purchase, R/T, and, debt consolidation)
•Credit scores as low as 500 (including jumbo loans)
• 1 day out of FC, SS, BK, or DIL
• Up to 85% LTV (cash-out)
•Loans up to $1 million (minimum loan $75,000)
• Cash out for reserves OK
•Mortgage lates are OK
• DTI up to 50% considered
• Limited or no tradelines OK to max 75% LTV
• Max cash-out to $500,000
Los Angeles CA Investor Cash Flow “No Income” Program (Perfect For Investors)
• Up to 80% LTV (including cash-out)
• Credit scores starting at 660
•No personal income used to qualify
• No limit on number of properties financed (5 with AOMS)
•No DTI restrictions & interest only available
• Must have housing history and own a primary home
• No employment required on application
• 2 years seasoning FC, SS, BK, or DIL
• Qualification based on property cash flow
• Loans up to $1 million (minimum loan $75,000)
Los Angeles CA Foreign National Program To 75% LTV
• Up to 75% LTV (purchase or refinance)
•Simple credit reference letters to satisfy trade lines
• No US credit, No SSN or IT
IN required
• 12 months reserves required / 50% DTI
• Loans up to $750,000 (higher amounts case by case)
• Reserves can remain in foreign account
• Minimum loan amount down to $75,000
• Fewer country restrictions than other lenders
Los Angeles No Income Asset Qualifier Program To 75% LTV
• Up to 75% LTV (purchase or delayed financing)
• Credit score of 700+ required
• 5 years seasoning FC, SS, BK, or DIL
•Loans up to $3 million (minimum L
oan $150,000)
•No DTI restrictionsNon-warrantable condos considered across all programs.
• Requires 60 months of recurring monthly payments post closing
• No 4506 required
• Must document minimum $500,000 in post closing assets
•Primary residence only
•Assets must be sourced/seasoned for a minimum of 12 months

LOS ANGELES CALIFORNIA CO OP MORTGAGE LENDERS

LOS ANGELES CA CO-OP MORTGAGE LENDERS- SERVING ALL CALIFORNIA
LOS ANGELES CA CO-OP MORTGAGE LENDERS LOAN TO VALUE

LOS ANGELES CA CO-OP MORTGAGE LENDERS
there are about 40,000 Co-op Units of many types in LOS ANGELES CA

• Stock Cooperatives (Mostly Big LOS ANGELES CA Co-op mortgage lenders – Luxury Living)
• Mutually Owned (owned together with market value)
•LOS ANGELES CA Limited Equity Housing Cooperatives
• Co-ops Compare Best with a Family living in a Rental
LOS ANGELES CA CO-OP MORTGAGE LENDERS TERMS
The ARM is a 1st mortgage adjustable rate loan with principal and interest payments amortized over 30 years.

  • 3/1 ARM: Rate is fixed for 3 years.
  • 5/1 ARM: Rate is fixed for 5 years.
  • 7/1 ARM: Rate is fixed for 7 years.
  • 30 Year fixed for 30 years.

Co-op_USML_Califonria CO Op Mortgage Lenders Questionnaire

The applicant listed below has applied for financing secured by the referenced cooperative shares. Please complete this form by answering all questions or indicating “Unknown” or “N/A” (Not Applicable). This form must be completed by either the management agent or a member of the cooperative board. Your cooperation in providing the requested information is appreciated.

  1. Ownership Breakdown:
    _______________ Total Number of Unsold/Sponsor-Owned Units
    (or units owned by holders of unsold shares)
    _______________ Total Number of Sold Units
    (include Unsold units in contact to be sold)
    SOLD UNIT BREAKDOWN:
    _____________ ____________ ____________ _____________
    Principle Residence Second Home Investor/Sublet Co-op Corp. Owned
    _______________ Total Number of Units in Co-op Project
  2. Share Breakdown:
    _______________ Total Shares in Project
    _______________ Total Shares Subject Unit
  3. Proprietary Lease Expiration Date:
    _____________/_____________/_____________
  4. Does any individual or entity, other than the sponsor, own more than 10% of the total units in the project?
  5. Is any space within the project designated for commercial/non-residential use?
    If Yes, indicate the approximate percentage: _________________
    6. Are there any land use agreements or is the Co-op subject to a leasehold (Ground Lease)?
    If Yes, please provide Ground Lease for review.
    7. How many shareholders are delinquent more than thirty (30) days on their maintenance fees? _____________________
    8. Does the Co-op impose a Stock Transfer Tax (Flip Tax) upon the sale of units?
    If Yes, what is the method of calculation or percent charged to the seller?
    _________________________________________________________________________________
    9. Is a Lender exempt from the Stock Transfer Tax (Flip Tax) if the Lender acquires a unit’s share?
    10. Who controls the Cooperative Board? Tenant-Shareholders Sponsor Until when? ______/______/______
    11. Date of the last Amendment filed: _____________/_____________/_____________ Amendment # _____________
    12. Does the Co-op receive any tax/assessment abatements?
    If Yes, indicate type of abatement? Expiration: ____________________________ Until when? ______/______/______
    13. Are there any mechanic’s liens filed against the subject property?
    If Yes, indicate type of lien: ________________________________________________________________________
    14. Is the Co-op involved in any litigation?
    If Yes, indicate type of litigation: _____________________________________________________________________
    15. Total current reserve funds: $ ____________________
    16. Does the HOA budget provide for the funding of replacement reserves for capital expenditures and deferred maintenance
    that is at least 10% of the budget not including any underlying mortgage (if applicable) and property tax expenses?
    17. Annual HOA dues for the subject unit excluding units portion of the underlying mortgage (if applicable) and building
    property tax expense ______________________________.
    18. Please provide the names and phone number for the following Co-op Board officials:
    Co-op Board President: _____________________________________________ Phone Number: ______________________
    Co-op Board President: _____________________________________________ Phone Number: ______________________

Sponsor/Holder of Unsold Share Information

Underlying Mortgage Information

Signature & Certification
Management Agent & Insurance Information
_________________________________________________________________________________________________________________________
Sponsor Name
________________________________________________________________ ________________________________________________ Contact Name Phone Number

__________________________________________________________________________________________________________________________
Lender Name
1. Total number of shares held by the Sponsor: _____________________________

1. Monthly Payment: $ _____________________________________________
3. Maturity Date: ____________/____________/____________
5. If adjustable, what is the lifetime cap? _________________________________
7. Have the interest rate or repayment terms of the underlying mortgage been modified or otherwise extended?
If Yes, please explain: _____________________________________________________________________________________
8. Are payments on the underlying mortgage current?
If No, indicate amount in arrears: $ ____________________________________________________________________
3. Are the maintenance fees for Unsold shares current?
If No, indicate amount in arrears: $ ______________________________
4. Have there been assessments or reductions in reserves due to the Sponsor’s failure to maintenance fees?
If Yes, indicate amount: $ ______________________________

Underlying Mortgage Information

Signature & Certification
Management Agent & Insurance Information

_________________________________________________________________________________________________________________________
Sponsor Name
________________________________________________________________ ________________________________________________ Contact Name Phone Number

__________________________________________________________________________________________________________________________
Lender Name
1. Total number of shares held by the Sponsor: _____________________________

1. Monthly Payment: $ _____________________________________________
3. Maturity Date: ____________/____________/____________
5. If adjustable, what is the lifetime cap? _________________________________
7. Have the interest rate or repayment terms of the underlying mortgage been modified or otherwise extended?
If Yes, please explain: _____________________________________________________________________________________
8. Are payments on the underlying mortgage current?
If No, indicate amount in arrears: $ ____________________________________________________________________

Management Agent & Insurance Information
_________________________________________________________________________________________________________________________
Sponsor Name
________________________________________________________________ ________________________________________________ Contact Name Phone Number

__________________________________________________________________________________________________________________________
Lender Name
1. Total number of shares held by the Sponsor: _____________________________

1. Monthly Payment: $ _____________________________________________
3. Maturity Date: ____________/____________/____________
5. If adjustable, what is the lifetime cap? _________________________________
7. Have the interest rate or repayment terms of the underlying mortgage been modified or otherwise extended?
If Yes, please explain: _____________________________________________________________________________________
8. Are payments on the underlying mortgage current?
If No, indicate amount in arrears: $ ____________________________________________________________________
3. Are the maintenance fees for Unsold shares current?
If No, indicate amount in arrears: $ ______________________________
4. Have there been assessments or reductions in reserves due to the Sponsor’s failure to maintenance fees?
If Yes, indicate amount: $ ______________________________

2. Sponsor’s monthly rental income: $ ____________________
Sponsor’s monthly maintenance fees: $ ____________________

2. Mortgage Balance: $ ___________________________________
4. Interest Rate: __________________  Fixed  Adjustable
6. Date Obtained/Closed: ___________/___________/___________

I, the undersigned certify that to the best of my knowledge and belief, the information and statements contained on this form and an any attachments are true and correct.
________________________________________________________________ _____________________________________________________
Signature Date
________________________________________________________________ __________________________ ________________________
Printed Name Title Phone Number
1. Is the project managed by a professional management company?
______________________________________________________________________________________________________________________
Name
________________________________________________________________ ________________________________________________
Contact Name Phone Number
________________________________________________________________________________________________________________________
Co-op Address City State Zip Code
2. Is the building covered for its replacement cost or maximum allowable coverage for hazard, liability and flood
(if applicable) insurance coverage and fidelity bond coverage? Please attach copy of insurance certificate and schedule of coverages.
_______________________________________________________________________________________________________________________
Company
________________________________________________________________ ________________________________________________
Agent Name Phone Number
3. Does the project have co-insurance?
If Yes, what percentage? ___________________% And is there an agreed amount endorsement?

CLICK HERE – Co-op_USML_Questionnaire

LOS ANGELES CA CO-OP MORTGAGE LENDERS MINIMUM & MAX LOAN AMOUNTS
• $100,000 minimum loan amount. Exceptions considered on a case-by-case.

• Co0OP Loan amount exceptions over $4,000,000 available.

LOS ANGELES CA CO-OP MORTGAGE LENDERS CREDIT REQUIREMENTS
• 680 middle score required with some exceptions allowed for lack of credit or unestablished credit.

• For co-co-op mortgage applicants and co-mortgagers, the lowest mid-score is used for pricing and qualification.
• Meeting the minimum credit score requirement does not automatically constitute a credit approval. A pattern of
adverse credit or overextended credit may disqualify co-op mortgage applicant from financing, even if the minimum credit score is met.
• The credit report is used for Pre-Approval and co-op mortgage lenders will also pull credit before issuing a conditional
approval. Mid-score from co-op mortgage lenders credit pull is used for pricing and qualification.
No Credit or Limited Credit
• No credit or limited credit profiles are allowed on a case-by-case basis for U.S. citizens.
• No U.S. credit or credit score is required for the Work Visa/Expatriate/Immigrant Program or Foreign National Program
LOS ANGELES CA CO-OP MORTGAGE LENDERS OPTIONS INCLUDE:

  • Primary LOS ANGELES CA Co-op Mortgage Lenders
  • Second Home LOS ANGELES CA Co-op Mortgage Lenders
  • Investments LOS ANGELES CA Co-op Mortgage Lenders
  • Cash Out LOS ANGELES CA Co-op Refinancing
  • Second LOS ANGELES CA Co-op Home Financing
  • Jumbo LOS ANGELES CA Co-op Loans
  • Low LOS ANGELES CA Co-op Closing Costs
  • Up to 80 Percent LOS ANGELES CA Co-op Mortgage Loans

LOS ANGELES CA CO-OP MORTGAGE MAXIMUM DEBT TO INCOME
Maximum LOS ANGELES CA CO-op Mortgage Lenders Debt To Income Ratio 

• 43% maximum back-end ratio.

LOS ANGELES CA CO-OP MORTGAGE LENDERS APPROVAL PROCESS

2. PRINT OUT CONDO QUESTIONNAIRE FOR ASSOCIATION TO FILL OUT COMPLETE.  the questionnaire must be 100% complete for Approval Commitment. No blanks or questions answered “n/a” 
or “unknown,” and the questionnaire must pass underwriter review.

A housing cooperative, better known as a  co-op is a situation which a single corporate entity owns a co-op apartment building or similar LOS ANGELES CA muti unit residential co-op property. LOS ANGELES CA Co-Op shareholders of the corporation are granted a lease by the corporation, the lease gives the co-op owner proprietary ownership of a specific unit within the apartment building. A co-op loan, sometimes called a share loan, is a loan designed for a co-op mortgage applicant to purchase shares in a corporation that then entitles them to a lease agreement and residence in one of the cooperative units.

LOS ANGELES CA CO-OP MORTGAGE LENDERS LOAN TO VALUE

LOS ANGELES CA CO-OP MORTGAGE LENDERS TERMS
The ARM is a 1st mortgage adjustable rate loan with principal and interest payments amortized over 30 years.

  • 3/1 ARM: Rate is fixed for 3 years.
  • 5/1 ARM: Rate is fixed for 5 years.
  • 7/1 ARM: Rate is fixed for 7 years.
  • 30 Year fixed for 30 years.

LOS ANGELES CA CO-OP MINIMUM & MAX LOAN AMOUNTS
• $100,000 minimum loan amount. Exceptions considered on a case-by-case.

• Co0OP Loan amount exceptions over $4,000,000 available.

LOS ANGELES CA CO-OP MORTGAGE LENDERS CREDIT REQUIREMENTS
• 680 middle score required with some exceptions allowed for lack of credit or unestablished credit.

• For co-co-op mortgage applicants and co-mortgagers, the lowest mid-score is used for pricing and qualification.
• Meeting the minimum credit score requirement does not automatically constitute a credit approval. A pattern of
adverse credit or overextended credit may disqualify co-op mortgage applicant from financing, even if the minimum credit score is met.
• Credit report is used for Pre-Approval and co-op mortgage lenders will also pull credit before issuing a conditional
approval. Mid-score from co-op mortgage lenders credit pull is used for pricing and qualification.
No Credit or Limited Credit
• No credit or limited credit profiles are allowed on a case-by-case basis for U.S. citizens.
• No U.S. credit or credit score is required for the Work Visa/Expatriate/Immigrant Program or Foreign National Program
LOS ANGELES CA CO-OP MORTGAGE LENDERS OPTIONS INCLUDE:

  • Primary LOS ANGELES CA Co-op Mortgage Lenders
  • Second Home LOS ANGELES CA Co-op Mortgage Lenders
  • Investments LOS ANGELES CA Co-op Mortgage Lenders
  • Cash Out LOS ANGELES CA Co-op Refinancing
  • Second LOS ANGELES CA Co-op Home Financing
  • Jumbo LOS ANGELES CA Co-op Loans
  • Low LOS ANGELES CA Co-op Closing Costs
  • Up to 80 Percent LOS ANGELES CA Co-op Mortgage Loans

LOS ANGELES CA CO-OP MORTGAGE MAXIMUM DEBT TO INCOME
Maximum LOS ANGELES CA CO-op Mortgage Lenders Debt To Income Ratio 

• 43% maximum back-end ratio.

LOS ANGELES CA CO-OP MORTGAGE LENDERS APPROVAL PROCESS

2. PRINT OUT CONDO QUESTIONNAIRE FOR ASSOCIATION TO FILL OUT COMPLETE.  the questionnaire must be 100% complete for Approval Commitment. No blanks or questions answered “n/a” 
or “unknown,” and the questionnaire must pass underwriter review.

ELIGIBLE LOS ANGELES CA CO-OP PROPERTY TYPES & OCCUPANCY
LOS ANGELES CA Co-op Occupancy Permitted

• Primary LOS ANGELES CA Co-op Residence
• Second LOS ANGELES CA Co-op Home (minimal rental income allowed)
• Investment LOS ANGELES CA Co-op Property (non-owner LOS ANGELES CA Co-op occupied) permitted at maximum LOS ANGELES CA Co-op loan of 60% LTV
ELIGIBLE LOS ANGELES CA CO-OP MORTGAGE REQUIREMENTS
• Minimum Down Payment 20% For LOS ANGELES CA Co-op Mortgage Lenders
• Title Insurance for LOS ANGELES CA Co-ops title policy issued through a title company or closing attorney must be issued on LOS ANGELES CA Co-op certificate
• Leaseholds LOS ANGELES CA Co-op allowed on a case-by-case basis
BAD CREDIT LOS ANGELES CA CO-OP MORTGAGE LENDERS CREDIT REQUIREMENTS
• Late payments on any mortgage, installment or revolving account of 2×30, 1×60 or more will typically disqualify a
borrower from financing. Exceptions will be reviewed on a case-by-case basis at a lower LTV.
• A pattern of adverse credit or overextended credit may disqualify borrower from financing, even if minimum credit score
is met. Borrowers with 3x monthly income amount in unsecured consumer debt are generally disqualified.
LOS ANGELES CA CO-OP MORTGAGE LENDERS REQUIREMENTS AFTER FORECLOSURE, BANKRUPTCY, SHORT SALE
• (4)Four-year seasoning from BK discharge date or sale of property
• Maximum 60% LTV or 40% downpayment
• No derogatory credit allowed since the bad credit event
• Strong extenuating circumstance and signed letter of explanation from co-op mortgage applicant detailing event required.
NOT ALLOWABLE FOR LOS ANGELES CA CO-OP MORTGAGE LENDERS
– Structural LOS ANGELES CA Co-op deficiencies and certain pending litigation (please contact your AE if litigation is not related to a structural issue)
– Incomplete LOS ANGELES CA Co-op construction of the subject phase
APPROVED OR ALLOWED LOS ANGELES CA CO-OP MORTGAGE LENDERS CASE BY CASE: 
– Low LOS ANGELES CA Co-op HOA budget reserves
– HOA LOS ANGELES CA Co-op delinquencies exceeding 15%
•  LOS ANGELES CA Co-op mortgage lenders  Questionnaire must be 100% complete for Approval Commitment. No blanks or questions answered “n/a” or “unknown,” and the LOS ANGELES CA Co-op questionnaire must pass underwriter review.
• LOS ANGELES CA Co-ops mortgage lenders price LOS ANGELES CA Co-ops the same as Non-Warrantable Condos, regardless of loan size or LOS ANGELES CA Co-op questionnaire findings.
• LOS ANGELES CA Co-op must pust have a full kitchen and at least one separate bedroom. Minimum LOS ANGELES CA Co-op size 500 square feet generally required. Efficiency LOS ANGELES CA Co-ops or studio units are not permitted.
• Coinsurance LOS ANGELES CA Co-op is considered case-by-case if no agreed amount endorsement is available.

SELF EMPLOYED LOS ANGELES CA CO-OP MORTGAGE LENDERS
Self-Employed co-op mortgage Income calculations
• Borrower should be self-employed in the U.S. for a minimum of 2 years (max 80% LTV).
• 2-years business & personal tax returns required, plus year-to-date Profit & Loss statement.
• Business tax returns required for all businesses in which the borrower has 25% ownership or more. On occasion
business tax returns are needed if the borrower is has less than 25% ownership.
• Fannie Mae cash flow analysis form can be used.
• NOL Carryover Loss: Treated case-by-case when truly a one-time occurrence (i.e. real estate loss, lawsuit settlement or some other form of a truly one-time occurrence). Detailed CPA letter addressing the one-time occurrence is required.
• Less than two years self-employment is considered on a case-by-case basis with a reduced LTV.
REQUIRED BY LOS ANGELES CA CO-OP MORTGAGE LENDERS
• 2-months bank statements for monthly asset accounts, and most recent statement for quarterly asset accounts
(VOD not permitted).
• 6 months PITI for all LOS ANGELES CA co-op properties owned including subject.
• At least 3 months of the subject property’s reserves must be liquid non-retirement.
LOS ANGELES CA CO-OP MORTGAGE LENDERS CASE BY CASE MORTGAGE APPROVALS
• LOS ANGELES CA Co-op Current reserve balance meets or exceeds 2 months of the subject property’s LOS ANGELES CA Co-op HOA dues in reserves multiplied by all LOS ANGELES CA Co-op units in the LOS ANGELES CA Co-op project or 10% or more reserve allocation designated in the most recent LOS ANGELES CA Co-op budget.
SECOND HOME LOS ANGELES CA CO-OP MORTGAGE LENDERS
• LOS ANGELES CA Co-op Mortgage Lenders will typically define a property as a second LOS ANGELES CA Co-op home if it is (1) located in a vacation or resort area 30 or more miles from the primary LOS ANGELES CA Co-op residence or (2) used a LOS ANGELES CA Co-op college housing for enrolled dependent within 5 miles of campus)
• Short-term LOS ANGELES CA Co-op rental income is allowed on second LOS ANGELES CA Co-op homes and generally does not constitute a LOS ANGELES CA Co-op investment property designation. LOS ANGELES CA Co-op Rental income cannot be used to qualify. An evaluation of the 1040 Schedule E is required.
LOS ANGELES CA CO-OP MORTGAGE FOR INVESTMENT PROPERTY 
• Property titled in LLC allowed 
• Maximum LOS ANGELES CA Co-op 60% LTV for investor LOS ANGELES CA Co-op mortgage lenders.
• Gross rental income is calculated by using a 12 month average of the net Schedule E income (Line 21) plus depreciation, mortgage interest paid to banks, taxes and insurance, and LOS ANGELES CA Co-op HOA dues.
• Rental income not appearing on Schedule E may be considered case-by-case with 3 months canceled checks and a
current lease agreement. Use 75% of gross rent as gross rental income.
• Immediate LOS ANGELES CA Co-op rental income on the purchase of an investment property is allowed using 75% of the monthly rent schedule as documented by Form 1007 or 1025.
• Cash-out is allowed up to $3,000,000 with no seasoning required.
WHAT IS A LOS ANGELES CA CO-OP AND HOW DO I GET A LOS ANGELES CA MORTGAGE?
A LOS ANGELES CA Co-op or cooperative apartment is an individual living unit within a LOS ANGELES CA Co-op building or development where a buyer purchases shares (equal to the value of the unit) in a LOS ANGELES CA Co-op corporation that holds title to a building   Coops are predominantly located.  Normally a LOS ANGELES CA Co-op sponsor will buy the building (takes out the underlying LOS ANGELES CA Co-op mortgage) and then will sell off the shares.  Therefore, when buying a coop, you are actually buying LOS ANGELES CA Co-op shares in a corporation, not buying real property.

HOW TO LOS ANGELES CA CO-OP BUILDINGS GET PRE QUALIFIED BY LOS ANGELES CA MORTGAGE LENDERS?
To start with LOS ANGELES CA Co-op lender will look at the following factors to see if a particular LOS ANGELES CA Co-op building corresponds with their guidelines:  the LOS ANGELES CA Co-op property’s resale value, investor concentration, and LOS ANGELES CA Co-op owner occupancy.  Based on the previous example, if there are 20 units, five sponsor rentals and 15 sold units (with 12 owner-occupied units and 3 units being rented by the LOS ANGELES CA Co-op owners), the following ratios and guideline percentages result:
HOW IS A LOS ANGELES CA CO OP DIFFERENT FROM A HOUSE OR CONDO?
When you get a mortgage to purchase a  house or condo you get the deed. But not with a LOS ANGELES CA Co-op, individual units do not have individual deeds. A LOS ANGELES CA Co-op mortgage is actually a “share-loan” or a loan that purchases a share within in the LOS ANGELES CA Co-op. The difference makes securing a loan for a LOS ANGELES CA Co-op more complicated them getting a traditional mortgage and fewer mortgage lenders offer share loans.

LOS ANGELES CA COOP BOARDS AND APPROVAL RULES
To buy into a LOS ANGELES CA Co-op, you must be approved by the LOS ANGELES CA Co-op board. The approval process is often extensive and may require interviews and character references, in addition to your employment, financial, and credit history. LOS ANGELES CA Co-op boards can refuse a prospective buyer for any reason, so long as it doesn’t run afoul of anti-discrimination policies. What you can do WITH your LOS ANGELES CA Co-op unit. As a LOS ANGELES CA Co-op shareholder, you don’t have the right of alienation where basically, you can’t sell your LOS ANGELES CA Co-op share (or rent your LOS ANGELES CA Co-op unit) without the permission of the LOS ANGELES CA Co-op board. Some LOS ANGELES CA Co-op associations have the right of first refusal, meaning they have the option to buy the property before you offer your LOS ANGELES CA Co-op to outside buyers. LOS ANGELES CA Co-op boards, though, can simply deny a sale without matching the sale price.

HOW LOS ANGELES CA COOP OWNERSHIP DIFFERS FROM CONDO OWNERSHIP
When you purchase a condominium you are purchasing a specific unit the surface and the interior walls of the unit in the space the condo contains. With a Co-op, you are purchasing a share in a corporation, which then entitles you to a unit. This share is considered personal property rather than real estate. 

2. PRINT OUT CONDO QUESTIONNAIRE FOR ASSOCIATION TO FILL OUT COMPLETE.  the questionnaire must be 100% complete for Approval Commitment. No blanks or questions answered “n/a” 
or “unknown,” and the questionnaire must pass underwriter review.

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