Question 1

What DTI ratio do NYC co-op boards require in 2026?

Accepted Answer

Most boards now expect a debt-to-income ratio under 25-28%, down from the 30-35% that was acceptable in previous years. Stricter buildings on Park Avenue and Fifth Avenue may require even lower.

Question 2

How much liquidity do I need after closing on a co-op?

Accepted Answer

Boards typically require 12-24 months of mortgage and maintenance payments in liquid assets after your down payment and closing costs. Premium buildings increasingly require 24+ months.

Question 3

What happens if a co-op board rejects my application?

Accepted Answer

Co-op boards are not required to give a reason for rejection. However, starting July 28, 2026, boards must respond to complete applications within 45 days or face $2,000 penalties under NYC Local Law 58.

Question 4

Can I improve my chances of co-op board approval?

Accepted Answer

Yes. A professionally assembled board package with a strong personal statement, complete documentation, and clear financial presentation significantly improves approval odds. Many borderline applications are approved when the package is thorough and well-organized.

Will a NYC co-op board approve you?