NY Long Island first time program? (credit score, requirements, rate, ARM)
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Hi. Current renter with ownership goals within 1 to 2 years looking for a first time homeowner program. I know years ago there were some matching contribution programs and others where you saved a set amount for a set time and then they would pay closing costs or give money toward a downpayment but I have long since lost track of these and who offers them or even if anymore exist. Would appreciate any information you have. Thank uou.
Hi. Current renter with ownership goals within 1 to 2 years looking for a first time homeowner program. I know years ago there were some matching contribution programs and others where you saved a set amount for a set time and then they would pay closing costs or give money toward a downpayment but I have long since lost track of these and who offers them or even if anymore exist. Would appreciate any information you have. Thank uou.
Thanks. That's an old one with an income limit. Hoping someone knows of something that that may not come up in a search. Appreciate and prepped you though.
Thanks. That's an old one with an income limit. Hoping someone knows of something that that may not come up in a search. Appreciate and prepped you though.
Frankly, I've never seen or heard of a program that didn't have income limits outside of some employer/union programs.
We have a unique First Time Home Buyer (FTHB) product. I normally do not post this kind of info, but money is tighter than ever. Here are the parameters of the program:
3% down up to 970K
Max income $174,450
Reduced MI coverage (lower rate)
6/1 ARM - fixed for 6 years- becomes a 1 year ARM
Treasury based
TODAY'S RATE FOR NY = 6.75% no points
(States have different rates)
FTHB Education required (online)
Strict credit score requirements
Strict ratio requirements
Reserve requirements (can be accessible retirement)
Minimum 3% from borrower
DM me if you want more information - This program was created to fill the gap where buyers made too much for the traditional FTHB program. But the guidelines are nowhere as loosey-goosey most FTHB or FHA
We have a unique First Time Home Buyer (FTHB) product. I normally do not post this kind of info, but money is tighter than ever. Here are the parameters of the program:
3% down up to 970K
Max income $174,450
Reduced MI coverage (lower rate)
6/1 ARM - fixed for 6 years- becomes a 1 year ARM
Treasury based
TODAY'S RATE FOR NY = 6.75% no points
(States have different rates)
FTHB Education required (online)
Strict credit score requirements
Strict ratio requirements
Reserve requirements (can be accessible retirement)
Minimum 3% from borrower
DM me if you want more information - This program was created to fill the gap where buyers made too much for the traditional FTHB program. But the guidelines are nowhere as loosey-goosey most FTHB or FHA
Thank you so much. Will be in touch.
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