FHA 203k Loans in New York – Buy & Fix Home with One Loan!

FHA 203k mortgage loans in New York

Artisan Mortgage offers a wide selection of government-backed loans including FHA 203k loans in New York – home purchase and renovation in one loan, with low down payment options and competitive interest rates.

Whether you’re a first time home buyer or a retiree looking to relocate to a new community, FHA 203k mortgage loans in New York can allow you to purchase or refinance real estate while leaving more money in your bank account.

There are many benefits of home improvement FHA 203k loans in New York, also known as rehab loans, which an Artisan Mortgage professional will be happy to review with you.

To learn more, call us at (833) 844-0141, or fill out the Rate Request Form to the right for a free rate quote.

New York FHA 203k Rehab Home Loans: What Are the Benefits?

FHA 203k mortgage loans in New York are backed by a branch of the federal government (the Federal Housing Administration, to be exact), which allows lenders to offer them at lower interest rates.

They provide consumers with the ability to purchase homes with as little as 3.5% down and cash-out up to 85% of their equity through refinancing (these guidelines are subject to change – please contact an Artisan representative for current criteria).

Artisan Mortgage currently offers mortgage refinance and home purchase loans throughout the New York State and our loan officers are some of the most highly trained and skilled professionals in the marketplace. Call today for information on the Artisan’s products and services.

There are several ways to contact us:

  1. Call toll-free at (833) 844-0141 and speak with a mortgage broker.
  2. Request current NY mortgage rates using the quote form on this web page.
  3. Start the pre-qualification process online.

Since the Federal Housing Administration protects the lender from loss in the event that a borrower doesn’t pay their mortgage, there is less risk presented to the lender. Less risk translates to lower rates for the consumer – so as you can see, FHA 203k loans in New York including cities of Buffalo, Rochester or Albany, NY can be a win-win solution for everyone involved.

Testimonials

5 stars rating

As any first time home buyer, I was over cautious about not falling into any traps while getting a mortgage. Jim guided me through the entire process. You were quick in responding to my phone calls and emails. The figures in the good faith estimate matched exactly with the figures at closing. There were no surprises. Working with an honest broker was a pleasant experience from the start to finish. I thank you and the staff for your service. Ketan and Preyal Shah, Bethpage, NY

The U.S. Department of Housing and Urban Development official website www.hud.gov offers more info about FHA 203k loans in New York, including eligibility, requirements, and loan limits in 2019.

3 Low-Cost, High-Impact Home Improvements!

  1. Front Door Delights: Consider replacing your front door. Or, simply paint the door and switch to a shiny new door handle.
  2. Painted Smiles: Dare to try one of the many techniques out there, like a faux finish… for a great look! You may even want to try using three different shades of the same color on the wall. Using painter’s masking tape, you can mark off diamond shapes, stripes or three equal sections… for a great look! Painting the kitchen cabinet will give you something to smile about!!
  3. Pretty-Up Your Porch: Upgrade the light fixture and doorbell hardware. Add potted plants and a wrought iron patio bench.

What are the benefits?

The benefits of taking out a fixed or adjustable rate FHA 203k mortgage loan in New York, backed by government, whether you’re in Syracuse, Yonkers or White Plains, NY, include low down payment options, lower interest rates and possibly lower fees. They provided these special benefits in order to help more Americans qualify for homeownership while also giving lenders peace of mind.

Having a Home Equity Line is like finding a hidden nest egg that is just waiting to help with your financial needs today. Your account is set up like a special checking account. When you write a check – that amount becomes a loan with your home equity as collateral. The only interest you pay is on the amount of the loan – and only when you borrow. That’s why it’s the simple – and smart – way to borrow money. You can reduce your taxes: in most cases, you can deduct the interest paid. Be sure to consult your tax adviser.

Testimonials

5 stars rating

Artisan Mortgage Co. handled my home refinance in a professional way while at the same time using a personal approach. I would use them again for either my next home purchase or refinance. – Sean and Dana Lamparter, Fort Salonga, NY

Home Renovations With An FHA 203K Mortgage Loan in New York

An FHA 203k loan provides home buyers in New York, including Long Island, Queens, Bronx, Staten Island and Manhattan, NY with the opportunity to purchase property with a lower down payment requirement than what may be required through other financing options.

With these products, borrowers pay low introductory interest rates which remain fixed for the first five years (60 months) of the mortgage. After the five-year fixed rate period passes, the interest rate begins to adjust up or down based up the loan’s margins, caps, and the index which it is tied to. Because the loans will adjust, 5 year mortgages do carry more risk than their fixed rate counterparts. Still, for the right individual, this program might be the perfect choice.

New York FHA 203k Home Rehab Loans

Seek out a true mortgage professional and let them explain the details and options to you so you can make the best decision for yourself.

If you need to repair or upgrade your home, Artisan Mortgage can help you with a FHA 203k rehab loan in New York, a program insured by the Federal Housing Administration that provides financing with low down payment options whether you’re in Long Island, Bronx, Queens, Brooklyn, Manhattan or Staten Island, NY.

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