CO-OP SHARE FINANCING · TAMPA, FL
Co-Op Share Financing for Homes of Regency Cove in Tampa, Florida
Homes of Regency Cove is a 55+ resident-owned cooperative in South Tampa — on Old Tampa Bay at the Gandy Bridge, with canals, a community pier, and a boat ramp, near MacDill AFB. Buying a share home here takes a co-op share loan, not a standard mortgage. We specialize in exactly that.
Prefer to talk? Call (352) 580-6160.
WHY IT’S DIFFERENT
What makes Homes of Regency Cove different — and why it matters for your loan
Homes of Regency Cove is a 55+ resident-owned cooperative in South Tampa, at 4851 West Gandy Boulevard — on Old Tampa Bay at the Gandy Bridge, with an on-site canal system, community pier, and boat ramp. MacDill Air Force Base is minutes away. The community converted to a resident-owned cooperative in 1991. Each homeowner holds a co-op share in the association — there is no lot rent. The community is primarily manufactured homes and also includes a small number of apartments. That co-op share structure is exactly why a standard mortgage usually doesn’t fit, and why a co-op share loan does.
Standard mortgage
Secured by a lot you own outright. Doesn’t fit co-op share ownership — which is why a bank may say no.
Co-op share loan
Secured by your share in the resident-owned community plus your home. Built for exactly this. Behaves much like a conventional loan — you apply, you’re underwritten, you close.
The home is fine and the borrower is fine — the lender just isn’t set up for co-op ownership. That’s a lender limitation, not a verdict on you.
THE PROCESS
How co-op share financing actually works
A co-op share loan is secured by your share in the resident-owned community plus your home, rather than a lot you own outright. For you, it works much like a regular home loan — you apply, we underwrite, you close. The mechanics behind it differ from a standard mortgage, which is exactly why it helps to work with someone who closes these regularly.
01
Apply
Tell us about the home and community. We confirm the co-op is approved and that the home conveys with a co-op share.
02
Underwrite
We review your file the way a co-op share loan calls for — no lender learning on your deal.
03
Close
You close and make payments, much like a conventional home loan.
Part of our co-op share loan program, run across approved Florida communities.
OLDER HOMES
Older homes in Homes of Regency Cove — the 1970 line
Most lenders draw a hard line at homes built before June 1976. In approved Florida co-ops, that line moves — homes built from 1970 forward may qualify. If you’ve been told a home’s age rules it out, that may be a lender restriction, not the rule. Tell us the model year and we’ll give you a straight answer.
Homes of Regency Cove
City of Tampa (South Tampa), Hillsborough County, FL
55+ resident-owned cooperative
Resident-owned since 1991
~410 manufactured homes + 16 apartments (~427 total)
Co-op share — no lot rent
On Old Tampa Bay at Gandy Bridge; canals, pier, boat ramp; near MacDill AFB
WHY ATLANTIC
Why work with Atlantic Mortgage on a Homes of Regency Cove purchase
Atlantic Mortgage & Finance Corp. (NMLS #3915) is a Florida-licensed mortgage broker that has specialized in manufactured and mobile home financing since 2007. We built this practice around the programs most brokers decline — co-op share, chattel, single-wide, leased-land — so the communities other lenders walk away from are the ones we know best.
Specialized since 2007
Co-op share programs most lenders don’t offer
Florida-focused
Michael Dorosko — Ocala Branch Manager · NMLS #22951 · 25+ years in lending.
Already own your home in Homes of Regency Cove?
Refinancing may be an option for share owners in approved communities — including rate-and-term and cash-out programs. Call (352) 580-6160 to review your scenario.
Buying a home here that doesn’t include a share?
If the listing doesn’t convey with a co-op share, or you’re shopping a traditional lot-rent park in the Tampa area, the financing path is different: manufactured home loans on leased land in Florida. Atlantic Mortgage arranges both and can confirm which applies before you make an offer.
COMMON QUESTIONS
Homes of Regency Cove financing — common questions
Can I finance a home in Homes of Regency Cove?
That’s exactly what a co-op share loan is for. Homes of Regency Cove is a resident-owned cooperative in South Tampa, and buying here with a co-op share takes a co-op share loan — a program we work in regularly in approved Florida co-ops. Whether a specific home qualifies comes down to underwriting; the co-op structure is not the obstacle it is at most lenders.
Why was I declined on a Homes of Regency Cove home?
Almost always because of the ownership structure. A co-op share isn’t a titled lot, and many lenders simply aren’t set up for it — so they decline rather than work it. That’s a lender limitation, not a verdict on you or the home.
What is a co-op share loan, in plain terms?
Financing secured by your share in the resident-owned community plus your home, instead of a lot you own outright. At Homes of Regency Cove, that share is what a co-op share loan is built around — there is no lot rent for shareholders. For you it works much like a regular home loan — apply, underwrite, close.
My home was built before 1976 — can it still be financed?
It may. In approved Florida co-ops, homes built from 1970 forward may qualify. Tell us the model year and we’ll give you a straight answer.
Do all homes in Homes of Regency Cove come with a co-op share?
Homes here are purchased with a co-op share — there is no lot rent for shareholders. We confirm this on your specific listing at the start of your file.
How long has Homes of Regency Cove been resident-owned?
Homes of Regency Cove converted to a resident-owned cooperative in 1991. That co-op share structure is exactly what a co-op share loan is designed for — we confirm the community’s approved status up front.
What kind of community is Homes of Regency Cove?
A 55+ resident-owned cooperative in South Tampa, Hillsborough County — on Old Tampa Bay at the Gandy Bridge, with an on-site canal system, community pier, and boat ramp. MacDill Air Force Base is nearby. The community is primarily manufactured homes and includes a small number of apartments.
Can I refinance a co-op share loan in Homes of Regency Cove?
Refinance options may be available for share owners in approved Florida co-op communities, including rate-and-term and cash-out programs. Call (352) 580-6160 to review your scenario — no approval is implied until underwriting.
We finance co-ops throughout the Tampa Bay area and across Florida. See our co-op share loan program for the full list of approved Florida communities we work in.
Get a straight answer on financing your Homes of Regency Cove home
Call (352) 580-6160 or request a callback from a licensed Florida co-op share specialist.
No approval is implied until underwriting.