First Funding is a brokerage firm that has specialized in underlying mortgage loans and credit lines for cooperative apartment buildings and capital improvement loans for condominiums and homeowner associations since 1987. Our reputation for low rates, fast delivery, and professional service has been earned one satisfied board after another.
Proven Track Record
For more than 30 years, First Funding has arranged well-structured financing at the best available interest rates for buildings of all shapes and sizes in neighborhoods across the greater New York metropolitan area. Not once, in all those years, has First Funding failed to deliver… and close … a cost-effective loan for one of its clients. That, and the fact that most of First Funding’s current clients are either repeat customers or referrals, stand as testaments to the level of skill and commitment that First Funding brings to every transaction.
Refinancing an underlying mortgage or closing a capital improvement loan will be one of the most important decisions that a board member will make during their tenure. It will affect not only the monthly operating expenses of the entire property but also the market value of every shareholder’s unit. That is why our top priority in every transaction is the financial health and integrity of each borrower after the loan closes.
A Complex Problem ... With A Three-Step Solution
Throughout the financing process, boards are confronted with a staggering array of unfamiliar terminology and conflicting information. Without a complete understanding, they can be misled into making serious and costly mistakes. To prevent that from happening, First Funding takes three important steps.
First, we examine an extensive amount of property information to develop a complete profile of your property’s past history and current financial and physical condition.
Second, we solicit interest from as many lenders as possible so we can present the board with a variety of financing options reflecting the current possibilities and market conditions.
Third, we thoroughly explain the advantages and disadvantages of each option to assist the board in making a reasoned selection that will best meet their unique needs.
Once the board decides, we work with the lender and all of the borrower’s professional advisors to close the new loan as soon as possible.