NYC co-op 2nd purchase as primary residence with Plaza Home Mortgage

I just closed on a co-op as a primary residence in NYC in December 2021. I’m looking to purchase a 2nd unit in the same co-op building for my mom. She’s a foreign national who is able to stay here for 6 months at a time. So I’m not able to get a mortgage for her under the Fannie Mae family opportunity plan. From my research, it seems that I’m only able to get a mortgage for it as an investment co-op through a private lender.

I found Mortgage Depot who said they’re able to do a Fannie mae primary residence mortgage for me with Plaza home mortgage, even though I just closed on a primary residence. The underwriter said there are people who are in my situation – looking to purchase a primary residence closeby for their parents, and he is able to do it for me.

Has anyone worked with Mortgage Depot or Plaza Home Mortgage before? Does what the underwriter said sound legal?

Thank you for your advice!

submitted by /u/nogg2
[link] [comments]

I just closed on a co-op as a primary residence in NYC in December 2021. I’m looking to purchase a 2nd unit in the same co-op building for my mom. She’s a foreign national who is able to stay here for 6 months at a time. So I’m not able to get a mortgage for her under the Fannie Mae family opportunity plan. From my research, it seems that I’m only able to get a mortgage for it as an investment co-op through a private lender. I found Mortgage Depot who said they’re able to do a Fannie mae primary residence mortgage for me with Plaza home mortgage, even though I just closed on a primary residence. The underwriter said there are people who are in my situation – looking to purchase a primary residence closeby for their parents, and he is able to do it for me. Has anyone worked with Mortgage Depot or Plaza Home Mortgage before? Does what the underwriter said sound legal? Thank you for your advice! submitted by /u/nogg2 [link] [comments]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!