Home › Forums › Purchase Program › Can you get a NACA loan for a CO-OP who wants 20%?
Tagged: co-ops, coops, new york, new york city
This topic contains 2 replies, has 3 voices, and was last updated by TTrumble 8 months ago.
I’m looking at my housing options now in NYC. Coops are the most affordable. Most coops wants 20% down. Can I get a NACA loan with this kind of co-op since NACA has no down payment? How does NACA work with coops? Any info appreciated. Thank you!!
I did a search and found this post, which might help. I’m in the same area, but am avoiding co-ops for many reasons, including this.
Co-ops can be difficult. Stress that you have a 100% financing source and do petition the co-op’s board for a waiver of the 20% down payment.
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