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Underlying Mortgages:

 While most unit owners finance their individual apartments through share loans, the co-op itself often has an underlying mortgage.  The co-op will have common expenses for HVAC maintenance, roof repair, facade maintenance, etc.  Often these expenses can accumulate into millions of dollars.  Rather than assess a substantial increase to the monthly maintenance fee that the owners pay, most co-ops will finance the costs through an underlying mortgage.

 At Liberty Home Funding, we offer underlying mortgages from multiple lenders, not just one.  We will work with your board to provide the best financing options for your co-op.  

If you would like additional information about an underlying mortgage, please call our Commercial Loan Specialist, Susan Maher.  Susan can be reached at (212) 838-9115 ext. 95.