We, Franklin First
Financial, are the lender who is working with the Hutton Group to ensure that
your Co-op Conversion Process is as seamless and stream-lined as possible. We
understand that this is an impactful decision in your life so we want to ensure
that you have all the financial tools and information available to make an
One of the steps in the
decision making process is to find out if you qualify for a new mortgage loan.
You will need to refinance your current mortgage and increase the mortgage
amount to pay for your individual share of the underlying co-op mortgage plus
the transaction costs for the conversion.
Below are two ways in which
you can accomplish this.
The Quick Pre-Qualification Button will lead you to a short series of questions that will let you know if you are pre-qualified for a mortgage. This will not lead to a commitment to lend but it will give you an idea about your qualification for the mortgage you need.
The Pre-approval Button will lead you to a full mortgage application. Once you have completed it and furnished all the documents required, if you qualify, this will lead to a full mortgage commitment subject to the following conditions: No change in your financial status, the Co-op to Condo Conversion, Clear title, and Appraisal.
Please proceed to whichever option with which you are most comfortable. If at any time during the process you have a question, do not hesitate to contact us at 631-393-7536. You will be connected to a licensed loan officer who can help you.