Why Your Co-op Purchase Is Not Actually Property

September 28, 2026

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David Ghazaryan

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TL;DR

Securing a jumbo loan for a co-op in Florida presents unique challenges compared to traditional real estate financing. Here is a summary of the key points:

Ownership Structure: When you finance a co-op, you are not buying real estate but rather shares in a corporation that owns the building, entitling you to a proprietary lease for your unit.
Dual Approval Process: Both the mortgage lender and the building’s co-op board must independently approve your finances. A rejection from either party will terminate the transaction.
Essential Legal Document: A three-party Recognition Agreement between you, the lender, and the co-op corporation is a non-negotiable requirement that protects the lender’s collateral, which is your shares and lease.

Read the full blog article here: https://www.iqratemortgages.com/blog/florida-jumbo-co-op-loans-a-complete-buyers-guide

Video Transcript:

That co-op apartment is not property; you are buying shares. I, David Ghazaryan, build the financial trust for your loan. The lender and the board must both approve your purchase. We check the building's money to make your loan safe. A special contract protects the lender from losing their money. My article explains more. Find all links in the description.

Read Blog Here: https://www.iqratemortgages.com/blog/florida-jumbo-co-op-loans-a-complete-buyers-guide

David Ghazaryan

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