- 5% minimum down - five percent of purchase price
- Fixed or adjustable rates available
- Closing costs may be financed (check with your lender for terms and amount)
- For first-time buyers or US Veterans* (those who have not owned a home within past 3 years)
- Owner- occupied properties only
- Minimum 3% down payment
- Purchase price and income limits apply
FHA Mortgages
FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium (MIP) equal to a percentage of the loan amount at closing is required, and is normally financed by the lender and paid to FHA on the borrower's behalf. Depending on the loan-to-value ratio, there may be a monthly premium as well.
- No income limits
- Minimum 3.5% down payment
- Required federal government mortgage insurance
VA Loan
- The only mortgage product with NO down payment
- No private mortgage insurance
- Relaxed credit qualifications
- All-time low interest rates
- For more information click here
http://www.realtor.com/realestateandhomes-detail/3620-Saint-Paul-Blvd_Irondequoit_NY_14617_M35671-61421
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