What is NCBs involvement in .coop?
.coop is a “sponsored” top level domain name available exclusively to cooperatives and cooperative service organizations. NCB signed on as a founding member of .coop in the summer of 2001. .coop is now live and actively used worldwide. Return to Top Multifamily BankingAre closing costs lower when purchasing a co-op? Yes. Because you are buying shares in a corporation, not the physical property itself, in most states no title search or title insurance is needed, resulting in lower closing costs. Return to Top Does a co-op apartment require a higher down payment than a condo or a single-family home? Yes and no. Some cooperatives do set a minimum down payment amount for those choosing to live in their community. Normally, it is a higher-income cooperative that require a substantial equity investment up front to ensure a prospective member is committed to and contributes to the future reserve fund to pay for capital improvement projects. For most housing cooperatives, prospective members c
