Yonkers, NY Mortgage Broker: Get the Right Home Loan for Purchasing, Refinancing or Renovating Your Home

First-time Homebuyers

There are many loan programs out there for first-time homebuyers in Yonkers NY and those with limited funds for a down payment. These include 100% financing programs and our FHA pre-paid program, just to name a few.

Conventional are traditional loan programs, for those with established credit history that would like to disclose income, employment and assets.

Residential Mortgages

We offer fixed and adjustable rate mortgages (ARMs) to suit your specific financing needs. Today, fixed rate mortgages are the most popular type of home loan because they provide the stability of consistent monthly payments for the life of the loan, regardless of interest rates changes. In conjunction with your mortgage, an escrow account helps to minimize the affect of rising property taxes and homeowner’s insurance premiums.

Bad Credit Programs

Don't worry if your credit is not that perfect. We offer an array of solutions for bad credit history, bankruptcies, late payments etc.

Pre-Approval

An offer submitted with a formal pre-approval carries much more impact; both the seller and real estate agent will know that you have taken the right steps and are serious. Your AMC personal loan consultant can provide you with a no-cost, no-obligation Formal Pre-Approval Certificate within 24-48 hours of receiving your documentation.

Sub Prime (or poor credit) Mortgages

These are mortgages for clients whose credit profile is somewhat damaged. Typically, the lenders will offer both Fixed or ARM mortgages at considerably higher interest rates to mortgage seekers who fall into this category. Generally income proof and asset proof are required for these type of loans.

Refinancing basically means taking out a new mortgage to replace the one you have. Depending on your financial situation, there are a number of reasons why refinancing your home in Yonkers NY could be very beneficial:

• Refinance your mortgage at a lower rate than the original loan.
• Consolidate your debt, rolling your high-interest payments to credit card companies into one lower monthly payment.
• Combine two existing mortgages into one new mortgage, and possibly get a lower interest rate.
• Reduce the term of your loan and build up equity in the home more quickly.

Refinancing options: fixed-rate and adjustable-rate (ARM) mortgages, FHA (Federal Housing Authority) loan, VA (Veterans Affairs) loans, Home Affordable Refinance Program (HARP).

Interest-only Mortgage

Interest-only mortgages allow you to pay the interest portion of your loan each month for the early years of ownership. This means that you control how much principal is paid each month towards your Yonkers NY mortgage during the interest-only time period. The interest-only time period can range anywhere from one year, five years, to even ten years. This type of loan might be a good option if you are looking to save funds that you could put towards new investments, home improvements or retirement plans.

Low Down Payment

Select a home loan that makes the most of your cash on hand or your lack of it. Choices vary depending on credit history, but you can choose from low down payments to 100% financing. You can even use gift funds, seller contributions, or a second mortgage.