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I bought into a building in the East Village with a sponsorship rate of 46% last year. Chase wouldn't give me a loan for fear of the high sponsorship rate. The mortgage broker went through a lot of research and eventually got me a mortgage through "Community National Bank" in Great, Neck, NY (Long Island). It seems to be a smallish bank. From what the mortgage broker told me you need to go to smaller banks in order to get a loan for a building like that. Also, it kind of sucks for selling your apartment. But maybe tell them about CNB, they did not seem to mind the sponsor and I got a good rate.
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