|
While cooperative ownership secures the land for the benefit of the homeowners, the lack of conventional financing undermines home ownership on that land. Private, sub-prime lenders control 85 percent of the “land-lease” market. Interest rates run between three to twelve percent above conventional residential rates.
To provide reasonably priced fixed rate loans to individuals
in resident-owned communities, the Cooperative Home
Loan Program currently
offers loan products for homeowners in cooperative parks,
including:
- first-time home buyer loans through New Hampshire Housing Finance Authority
- refinance/home-equity loans
- purchase loans for existing homes
To Pre-Qualify for a loan (click-here)
-
To apply for a loan or to receive loan
information, contact Jeff
Monier at 603-620-0573 or jmonier@theloanfund.org
-
For general information, contact Ulrike (Uschi) Graham, Cooperative Home Loan Program Manager, at 603-856-0737 or ugraham@theloanfund.org.
|
