Helping First Time Home Buyers in New York
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FIRST TIME HOME BUYER MORTGAGE IN NEW YORK
Helping eligible first-time homebuyers turn their dreams of homeownership in New York.
First time home buyer loans allow buyers to get into a house more easily. However, just because you’re a first time home buyer doesn’t mean you should use a first time home buyer loan. These programs have restrictions and strings attached. While they are a perfect fit for some, first time home buyer loans are the wrong choice for others.
What are the benefits of the first time home buyer program?
- Below market interest rates on 30 and 40 year fixed programs
- Only 3% down payment
- Closing Cost assistance programs
- 1-4 family properties and condos.
- Reduced PMI Coverage.
- No pre payment penalties.
- This program will work great for condos.
- This program will allow to include a 6% concession towards closing costs.
- Only 1% of purchase price must come from borrowers own money while the remaining can be a gift.