NEW YORK COUNTIES WE SERVICE
ALLEGANY, BRONX, BROOME, CATTARAUGUS, CAYUGA, CHAUTAUQUA, CHEMUNG, CHENANGO, CLINTON, COLUMBIA, CORTLAND, DELAWARE, DUTCHESS, ERIE, ESSEX, FRANKLIN, FULTON,GENESEE, GREENE, HAMILTON, HERKIMER, JEFFERSON, KINGS, LEWIS, LIVINGSTON, MADISON, MONROE, MONTGOMERY, NASSAU, NEW YORK, NIAGARA, ONEIDA, ONONDAGA, ONTARIO, ORANGE, ORLEANS, OSWEGO, OTSEGO, PUTNAM, QUEENS, RENSSELAER, RICHMOND, ROCKLAND, SARATOGA, SCHENECTADY, SCHOHARIE, SCHUYLER, SENECA, ST. LAWRENCE
FHA PRODUCT HIGHLIGHTS
FHA Purchase Information: FHA is the most sought after mortgage in the market for the following reasons:
- Who Can Apply? Everyone! Including First Time Homebuyers and Seasoned Homeowners.
- Down Payment: 3.5% Minimum Down Payment. This amount can be gifted.
Closing Costs: Financing closing costs allowed, up to 6% of the purchase price.
- Property Eligibility: Single Family, Multi-Family to 4 Units, Condo / Townhouse, and Manufactured Housing.
- Credit Scores: The rule of thumb is 620 to 850 Middle Credit Score. However, scores of 500 to 619 have been accepted.
FHA Refinance Information:With the decline in the Real Estate Market over the past year, an FHA refinance should be considered for the following reasons:
· No Cash Out: to 96.5% of the appraised value
· Cash Out: to 85% of the appraised value
· Property Eligibility: Single Family, Multi-Family to 4 Units, Condo / Townhouse, and Manufactured Housing.
· Credit Scores: The rule of thumb is 620 to 850 Middle Credit Score. However, scores of 500 to 619 have been accepted