As of December 19, 2017, MyQL is now referred to as Rocket Mortgage.
Attention New Yorkers!
Did you know that 85% of all apartments in New York City available for purchase are in co-operative buildings? Take a look at your surroundings. When you do, you’ll realize that nearly all pre-war apartments are in co-op buildings, too. In other words, co-ops are all around you!
Does a co-op interest you? If so, Quicken Loans has some very exciting news. For the first time, Quicken Loans is offering home loans to co-op homeowners in New York! This doesn’t just mean people in New York City, either. It includes the entire state of New York. As long as the co-op includes five or more units, Quicken Loans can help!
If you aren’t familiar with co-operative buildings, allow me to explain. A co-op is a type of housing that consists of one or more residential buildings. A co-op is different from other types of housing such as condominiums and apartments in that it is member-based, with membership approved by the applicant’s purchase of shares in the co-op.
In a co-op, the entire building is owned by a single corporation. There is no deed for the individual. Along with the shares, there is also a proprietary lease that allows buyers to occupy a specific unit and informs the buyer of the rules and regulations, much like a rental lease.
Not familiar with Quicken Loans? That’s all right! Let me give you some background information. For starters, we’ve got more than 28 years of experience providing world-class client service as a direct lender. According to National Mortgage News, we’re America’s largest online lender and we’ve helped finance more than one million home loans.
And that’s not all. Below are some other quick facts:
- We close the majority of our loans in 30 days or less, which is super fast! Although co-ops may take longer to close, we’ll do everything possible to make your mortgage process as smooth and easy as possible.
- Our powerful online tools, like MyQL Mobile, are available only to Quicken Loans clients and can help you navigate the process on your own, 24/7.
- 95% of our clients would recommend us to family and friends.
- The Quicken Loans Zing Blog is your go-to resource for all things related to your home, money and lifestyle. Explore some of our other articles while you’re at home or on the go; we make for great subway reading!
As you can see, Quicken Loans has a lot to offer. From amazing client service and online tools to our ability to service co-op mortgages in New York (in addition to condos), we pretty much do it all.
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