Home Loans in Manhattan NY
When you make the decision to build or buy a home, or to improve the home you now own, we can help. We offer a wide variety of competitive Manhattan NY home loans, mortgage rates and terms to fit your needs, and to use for a variety of purposes.
First Time Home Buyer Programs
We offer an array of programs for those purchasing their first home. The programs provide qualified borrowers with money saving benefits and low down payment options.
A variety of repayment terms are available. Both the interest rate and the monthly payments stay the same during the life of the loan. They are quoted based on the term of the loan requested.
The interest rate varies over the life of the loan based on current market. The loan agreement sets the date on which the rate and monthly payments can change. There is a limit on the amount the rate can increase or decrease.
They have a fixed rate. A variety of amortization terms are available. There is a lump sum (balloon) payment due at maturity.
FHA 203k Home Renovation & Construction Loans
These loans have specific conditions from the Federal Housing Administration and generally have lower interest rates. FHA 203k home loan program in Manhattan NY also permits a higher loan credit availability against the property value. It has the FHA guarantee, facilitating home acquisition and financing up to specific limits. Subject to credit approval.
Home Equity Line of Credit Loans
HELOCs are adjustable loans with an extended repayment term for owner occupied dwellings. Application is made for a maximum credit limit that is revolving/reusable. Funds are accessed through a dedicated checking account. Accounts are billed interest due each month. The total loan-to-value (first and second lien) maximum is 80%.
Fixed-Rate Home Equity Loans
A variety of repayment terms are available.
Real Estate Investor Loans
Available for tenant-occupied residential dwellings. Fixed, Balloon, and Adjustable terms are offered.
We offer loans that reduce the amount of paperwork needed to complete a loan. These types of loans are particularly beneficial for self-employed borrowers.