At The Federal Savings Bank, we have a dedicated Condo/Co-Op Department that specializes in mortgage solutions for these types of homes and working for HOAs to make home purchasing possible for more types of borrowers.
If you are looking into buying a condo, Co-Op, or HOA services such as loans and project approvals, you are also in the right place – just keep scrolling or if you’re ready apply now!
When you purchase a condominium, you are sharing hallways, amenities, and other common spaces with the other homeowners of that building. In addition, you will also become a member of the Homeowners Association (HOA).
The home buying process for a condo is similar to buying a single-family home, but you will also have to take into consideration the involvement of the HOA or Co-Op before purchasing. Lucky for you, The Federal Savings Bank has an ENTIRE Condo/Co-Op Department exclusively dedicated to make sure that your loan goes through by working with the HOA.
When you purchase a co-op, you are considered a shareholder of the building and the size of your apartment determines your percentage of ownership.
There will need to be a lender review of the co-op association to determine its stability.
Don’t let anything stop you from getting your dream condo or co-op! Work with one of our bankers knowing they have an ENTIRE department that specializes in Condos and Co-Ops!
We can help! If you are looking to get your building VA, Conventional, or FHA approved or need a loan to make repairs to your building, The Federal Savings Bank offers a wide array of tools to serve your HOA needs.
Are you looking to get a multifamily property approved to accept VA, Conventional, and FHA loans? You are in the right place! Our Condo and Co-op experts are here to help and walk you through the process and help you secure financing options that were not previously available to you.
Contact the Condo/Co-op Department at [email protected] for document checklists, questionnaires, and forms to apply to get your project running!
Once we receive your filled form, one of our Condo/Co-op team members will be working directly with you. Advise that you will receive a response from the team within 24-48 hours.
Is your building in need of critical or extensive repairs? Paying for them can be a challenge if there are insufficient funds in the HOA to cover the cost. Let us help! We have closely worked with associations, board members, and property managers nationwide.
You will work directly with one of our HOA financing experts – not bots or automated messages! Get started now on your projects!
This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to you individual situation.