Mortgage Programs

Conventional Mortgages

  • 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

For more information check out the NYS Homes and Community Renewal Website.

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

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