We’re proud to announce the successful sale of a three-bedroom co-op on Pershing Crescent in Briarwood, Queens. Every real estate transaction has its own unique challenges, and this one was no exception. Our buyer was self-employed and purchasing a co-op in a building that posed financing challenges because it was considered non-warrantable under many conventional lending standards. Situations like these often lead to loan denials or significant delays when buyers work with lenders unfamiliar with specialized co-op financing. Fortunately, our buyer was referred to Benjamin Kaziyev at MortgageDepot, whose experience with co-op financing and non-QM mortgage solutions made all the difference.
Financing a Non-Warrantable Co-op
Not every lender has the ability to finance co-op buildings that fall outside conventional agency guidelines. Many buyers assume that if one lender declines the loan, financing isn’t possible. That isn’t always the case. Benjamin specializes in helping borrowers purchase co-ops that may be considered non-warrantable, using alternative lending programs tailored to unique situations.
A Solution for Self-Employed Buyers
In addition to the property’s financing challenges, the buyer was also self-employed. Conventional mortgage programs often make qualifying more difficult for self-employed borrowers. Using a Non-QM mortgage program, Benjamin qualified the borrower with alternative income documentation, allowing the buyer to secure financing that fit their financial profile without relying solely on conventional underwriting guidelines.
Buying or Selling in Briarwood?
If you’re purchasing your first co-op, selling your current home, or need financing for a property that other lenders have declined, having an experienced team on your side can make all the difference.
Briarwood Realty is committed to helping buyers and sellers navigate the Queens real estate market, and through our relationship with MortgageDepot, we can connect buyers with financing solutions for everything from conventional mortgages to specialized Non-QM and non-warrantable co-op programs.
