Not a refi question, but a mortgage question
When buying a house that’s missing CO for things like a second kitchen / illegal apartment, or a deck, I’ve heard smaller lenders will let that slide, as applied to banks that will not underwrite the mortgage
So if a real estate agent introduces the buyer to a mortgage lender, and the lender say they have no problem with the missing CO, I’d expect there’s a premium to pay for that flexibility
My questions ar
Is it true that major lenders will be more sticklers for COs
Should someone expect to pay more when missing COs
And assuming yes, how much more
@parkiteric interested in your thoughts
Also, not sure if being in NY makes any difference
And not sure if you do business in ny, but if you are, let me know
Thanks!
Whats CO? Im assuming co-op.