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c of o issues with refi

11:36 AM 05/09/2012

 

slvillager

we have a 4 family we use as a 3. kitchen plumbling still intact behind wall, no changes to egress since c of o issued in 2011; we just took out the kitchen on the parlor level. bank says that b/c we are using as a 3, they will want new c of o for 3 family as a condition to close our refi. putting the kitchen back in would be no big deal, but I don't know if bank would accept it. anyone have thoughts on how to handle? thanks in advance!

 

 

DOB
4 answers
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  • vote

    adam_dahill

    Brooklyn, NY

    That's crazy, switch banks. 2 banks that I know that care these days are Astoria and Ridgewood. They need the c of o to match. The rest don't care.

    11:42 AM 05/09/2012 | 0 Votes

     

     

  • vote

    edkopel

    Brooklyn, NY

    The existing uses shall comply with the C of O. Return it to a four family or hire an architect and file with the building department to change it to a three family. 
    Ed Kopel Architects

    4:44 PM 05/09/2012 | 0 Votes

     

     

  • vote

    mortgagepro

    Lindenhurst, NY

    It will be underwritten within the same 3-4 family guidelines.  Lenders will want to make sure there are no violations on public record but most of my lenders do not require a CO on refis. 
    -Adam

    6:54 PM 05/09/2012 | 0 Votes

     

     

  • vote

    vditty1979

    NY

    I do not need a CO either-  and a 4 to a 3 is no problem.  Its a 1 to a 2 or a 2 to a 1 that poses an issue.

     

    Vanessa Thatcher

    Senior Loan Officer

    NMLS# 41404 

     

    Atlantic Home Capital

    4175 Veterans Memorial Hwy

    Ste 310

    Ronkonkoma, NY 11779

     

    Office: 631-687-3510 x106

    Direct Fax: 631-918-5222

    Cell: 631-672-4113

     

    8:09 PM 05/09/2012 | 0 Votes

     

     

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