Co-op Board Package Checklist: Every Document You Need
A tickable checklist of what NYC co-op boards usually ask for in a purchase application, why each item matters, and how to submit a complete package.
8 min read · Updated
A co-op board package is the application you submit to a building's board after your purchase contract is signed. It usually includes a financial statement, tax returns, bank and brokerage statements, an employment letter, personal and professional reference letters, your loan commitment letter, and a copy of the signed contract. The building's own application, which you get from the managing agent or the seller's broker, is the final word on what to include.
No law sets what goes in a board package. Each co-op writes its own application and its own financial rules, so two buildings on the same block can ask for very different things. Use the checklist below as a working list. Then compare it line by line with the building's instructions.
At a glance
- Who sets the list
- The co-op
- Get the building’s application from the managing agent
- When you submit
- After contract signing
- Usually once you have a loan commitment, if financing
- What boards test
- Ability to pay + fit
- Debt-to-income, liquidity, down payment, references
- Legal limits
- Human rights laws
- NYC and NYS laws bar discrimination on protected traits
The board package checklist
Tick each item as you gather it. Your progress is saved in this browser only, so you can come back to it. The note under each item explains what boards usually look for.
Co-op board package
0/18Why the board wants each piece
Every document in the package answers one of three questions. Can you pay the monthly costs? Will you still have a cushion if something goes wrong? And will you be a good neighbor who follows the building's rules? Seeing the package that way helps you spot gaps before the board does.
| Board question | Documents that answer it | What reviewers check |
|---|---|---|
| Can you afford the monthly costs? | Tax returns, W-2s, pay stubs, employment letter, commitment letter | Debt-to-income ratio: monthly debt payments, including mortgage and maintenance, divided by gross monthly income |
| Is your down payment real? | Bank and brokerage statements, contract of sale | Funds are already in your accounts, not newly borrowed |
| Will you have a cushion after closing? | Bank, brokerage and (sometimes) retirement statements | Post-closing liquidity, often measured in months of mortgage plus maintenance |
| Is the financial statement accurate? | Financial statement plus every statement behind it | Each figure on the form ties to a document |
| Will you be a good neighbor? | Reference letters, landlord letter, house rules sign-offs | Consistent, specific letters from people who know you |
If you want to see how your numbers look before you submit, run them through the calculator below. It checks your debt-to-income ratio, down payment and post-closing liquidity against strict, typical and lenient buildings.
Will I pass the NYC co-op board financials?
Open full calculator →Presets are illustrative ranges reported by industry sources. Every board sets its own policy.
- Income of about $267,774 a year, or cutting other debt payments to $269 a month.
- A price at or below $814,000.
| Standard | DTI | Liquidity | Down | Max price |
|---|---|---|---|---|
| Strict 25% · 24mo · 25% | Fail | Pass | Fail | $731,000 |
| Typical 28% · 18mo · 20% | Fail | Pass | Pass | $814,000 |
| Lenient 30% · 12mo · 10% | Pass | Pass | Pass | $899,000 |
| Your building 28% · 18mo · 20% | Fail | Pass | Pass | $814,000 |
Max price keeps your maintenance, rate and down payment percentage the same. A pricier apartment often carries higher maintenance, so treat it as a ceiling.
For a full explanation of the three numbers, read co-op financial requirements: DTI, liquidity and down payment.
How to assemble the package
- 1
Get the building’s application as soon as your offer is accepted
Do not wait for the contract to be signed. Many documents, such as reference letters and an employment letter, take a week or more to collect. - 2
Fill in the financial statement last
Gather the statements first, then copy the balances onto the form. That way every number on the form matches a document behind it. - 3
Explain anything unusual in a short cover note
A large recent deposit, a job change, a gift for the down payment or a gap in income will be noticed. A one-paragraph explanation with proof is better than leaving the board to guess. - 4
Have your attorney and broker review it before it goes in
They know what this building usually asks about. Missing pages, unsigned forms and figures that do not match are the most common reasons a package is sent back. - 5
Submit it in the exact format requested
Follow the order, number of copies and any online portal the managing agent uses. Redact account numbers only if the instructions allow it. - 6
Track it
Ask the managing agent to confirm the package is complete and when the board will review it. Keep your loan commitment date in mind, since a slow review can push you close to its expiration.
Presentation tips that save time
- Make it complete the first time. Most delays come from incomplete packages. A missing page from a tax return can send the whole package back to the start of the queue.
- Keep it consistent. Your salary should read the same on the employment letter, the pay stubs and the financial statement. Small mismatches invite questions.
- Label everything. Use tabs or a clear file name for each section so a volunteer board member can find your brokerage statement in seconds.
- Make reference letters specific. A letter that says how long the writer has known you and gives one real example is more convincing than a generic paragraph.
- Do not pad the numbers. Overstating assets or leaving out a debt is the fastest way to lose a board's trust, and the credit report will show your debts anyway.
After you submit
If the board likes what it sees, the next step is usually an interview. Some buildings skip it for strong applicants, and some interview everyone. Read co-op board interview: what to expect to prepare. If you are relying on a parent or another guarantor, check buying a co-op with a guarantor first, because many boards will not accept one.
Before you even get to the package, it pays to know the building. Look up its violations and records on Roofy's NYC building lookup, and work through the co-op due diligence checklist with your attorney.
Independent fact-check 2026-10-12: every source URL opened and claims re-checked. No statute sets the contents of a co-op purchase application; each building decides. The checklist reflects documents commonly requested and is framed as typical, not required. DTI definition from CFPB. Fair Chance Housing coverage of co-op buyers and the conviction look-back limits verified on the CCHR page. Liquid-asset categories from an industry source and labeled as such.
Sources
- What is a debt-to-income ratio? · Consumer Financial Protection Bureau (accessed October 12, 2026)
- Fair Chance Housing · NYC Commission on Human Rights (accessed October 12, 2026)
- The Law (protected classes under the NYC Human Rights Law) · NYC Commission on Human Rights (accessed October 12, 2026)
- NY Executive Law § 296 (unlawful discriminatory practices) · New York State Senate (accessed October 12, 2026)
- NYC co-op financial requirements · Hauseit (accessed October 12, 2026)
General information, not legal, tax or financial advice. Rules change; confirm with the agency or a professional before you act.