Belmont Chambers Cooperative

Coop Housing since 1985

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Criteria for Cooperative Member Ownership



The criteria to be an eligible applicant for membership are:

  • You must have an excellent credit/payment history. Failure to pay coop-related fees may have an impact on the financial well-being of the other members. (See below for information about FICO scores.)
  • You should be able to document a five year work history.
  • Your total household income must be less than 110% of the median income for a family in Suffolk County. In 2018 this amount was $118,600.
  • You must live in the unit as your primary residence. (No roommates/subletting/AirBNB are allowed.)
  • You must share in the responsibilities of ownership.
  • You must have an adequate income to cover the monthly charges. Currently we calculate the minimum income is $38,370.
  • You should be willing to make a 3-5 year commitment to the Cooperative.
  • There is no subletting or “roommates”. You must list everyone in your household in your application.
  • Since the cooperative was formed to provide long term housing for those whose housing needs are not met by the current market, owning a condo or other property is a disqualification.
  • No dogs are allowed. Cats are permitted with the Board’s approval.


Credit Scoring



We require a FICO score of 740 or better which is currently supplied by Experian 
(1-888-397-3742) through our management company, the Mackin Group.  We encourage all interested people to review their FICO score before applying but be aware that many companies may provide a "credit score" and not a "FICO" score and some FICO scores may vary from different companies.  Unfortunately, we cannot be flexible with this score requirement but consumer laws do protect you from erroneous credit reporting and you are encouraged to seek corrections before you apply.