Resources at NY Mortgages

No Down/Low Down Loans

It's not that uncommon for people with good jobs and good credit to find themselves short on the cash needed to purchase a home. That's why we designed special mortgage loan programs for financially responsible borrowers who only need a little helping hand to move from dream to home.

The upside of our No Down/Low Down Conventional loans:

* 103% Financing- covers 100% of the purchase plus funds up to 3% of your closing costs, mortgage insurance premiums and prepaids

* 100% Financing- covers 100% of the purchase, you pay the closing costs, mortgage insurance premiums and prepaids

* 97% Financing- covers 97% of the purchase, you only put down 3% plus cover the closing costs, mortgage insurance premiums and prepaids

* 80/20 Piggyback- covers 100% of the purchase with option to avoid mortgage insurance premiums, and pay only closing costs and prepaids

USDA Program

Program Features:

* 102% financing on appraised value, NOT purchase price! (100% + guarantee fee). Rural program, for homes outside of city limits.
* Unlimited seller paid closing cost! Finance closing costs!
* NO Monthly Mortgage Insurance
* 580+ score! No score ok with review. 580-619 score no open collections except medical ok. 620+ Streamline Approval, open collections ok. Medical collections can be open for 580-850 credit score
* Stick built and modular homes approved. No double-wides, or mobile homes
* GREAT low rates. 30yr fixed
* NO application fee!
* NO Down-payment!
* NO First Time Buyer Requirement!
* NO Payment Reserve Requirements!

I can tell you within 2 minutes if the home is USDA eligible. In a few hours if the buyer(s) are USDA eligible.

FHA Loan (Federal Housing Administration)

* Ideal for individuals who have little money for a down payment, only 3.5% required. Any open collections must be paid by closing.
* Normal Program credit mid-score 560-850
* No extra cash reserves are necessary & Gift $OK.
* Double-wides, stick built & modular homes approved
* Any location acceptable- suburban, city, and rural

FHA Sub-prime

* Have you been declined elsewhere by FHA, we will get you FHA approved!
* Better yet, come see us first and save a lot of time and money

VA Loans (Veteran’s Administration)

* No down payment required
* No mortgage insurance required
* Easier qualification standards
* Less strict credit and income standards
* No prepayment penalties

You open the morning paper, and you see what looks like a good deal. But how do you know for sure? Where are the hidden costs? Are they just moving numbers around? I can help. Loans are my specialty. Call me, tell me what your goals are, and I'll work to help you achieve them.You tell me what you're trying to achieve and I'll tell you the best loan for you!