CO OP Help

Can you girls help me whats the difference between a coop condo and townhouse?

And how do you go about renting or buying one and if you buy one how much is needed as a down payment,

we know nothing about this stuff i still live with my mom and will be moving out for the first time

TIA

With coops, you own a piece of the building, not the actual space of your apartment - kind of like owning shares of a stock of a corporation. You have to go before a board to get approved.

With condos, you own the entire space of your apartment.

Maintenance fees are usually higher for coops, but with condos you have to pay property taxes.

I would definitely stop by a bank and speak to one of their representatives, they will have more details. They can see what you would be pre-approved for and discuss down payments and such.

Here's a link to an article for more info.

Condo vs. Coop