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New York Mortgage

Don't let your past credit problems hinder your home finance options.

Refinancing or adding a second mortgage can help your credit rebound, and will often increase your credit scores with timely payments.

Combine your 1st & 2nd mortgages into 1 mortgage
Wipe out compounding credit card interest
Consolidate all your bills into one lower mortgage payment
Refinance your existing 2nd mortgage
Save up to 75% with Bill Consolidation
Interest Only Mortgage Options
Convert your adjustable rates to a Fixed Rate Loan
Rebuild your credit & Raise your Scores
Get Cash Out
Finance Home Improvements
Refinance your home equity line of credit

Mortgage Rates for New York
Albany Metro	Buffalo Metro	New York City
Rochester	Syracuse

Don't let your past credit problems hinder your home finance options.

Refinancing or adding a second mortgage can help your credit rebound, and will often increase your credit scores with timely payments.

Mortgage Terms to Know for the Loan Process
Conventional Loan	Second Mortgage	Escrow
A mortgage loan not insured by FHA or guaranteed by the VA. Fannie Mae sets the conforming loan amounts and for 48 states any loan amount under $417,000 for 1-4 unit properties. For more information and guidelines by state, please visit www.fanniemae.com	A fixed or adjustable rate loan, secured by the equity in your home. Interest is usually tax-deductible to 100% CLTV. Often used for home improvement or freeing of equity for investment in other real estate or investment. Great loan for refinancing to replace or substitute for consumer loans whose interest is not tax-deductible like credit card debt and personal loans.	An account held by the mortgage lender into which the homebuyer pays money for tax or insurance payments. Also earnest deposits held pending loan closing by a 3rd party.
Index	Closing Costs	Refinance
A number, usually a percentage, upon which future interest rates for adjustable rate mortgages are based. Common indexes include the Cost of Funds for the Eleventh Federal District of banks or the average rate of a one year Government Treasury Security.	Any fees paid by the borrowers or sellers during the closing of the mortgage loan. This normally includes an origination fee, discount points, attorney's fees, title insurance, survey, and any items which must be prepaid, such as taxes and insurance escrow payments.	Obtaining a new mortgage loan on a property already owned. Often to replace existing loans on the property.
Deferred Interest	Impound	Negative Amortization
When a mortgage is written with a monthly payment that is less than required to satisfy the note rate, the unpaid interest is deferred by adding it to the loan balance. This is common with negative amortization loans.	Reserves of a borrower's monthly payments held by the lender to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due.	Occurs when your monthly payments are not less than the interest due. This unpaid interest is added to the unpaid balance of the loan. The danger of negative amortization is that the homebuyer ends up owing more than the original amount of the loan.

40-Year Amortization Term

Four options available: 40-Year Fixed,
Maximum LTV 100%, Maximum CLTV 100%
Loan Amounts to $1,500,000
100% LTV Full Doc minimum 580 Credit Score
95% LTV Stated Doc minimum 620 Credit Score
Maximum Debt to Income - 55% up to 90% LTV;
Documentation Types - Full, Limited and Stated Income

Interest Only

Stated Income Mortgage
100% CLTV on Owner Occupied Properties
90% on Non-owner Occupied Properties
Qualify at fully amortizing payment
1-4 Units Condos and PUD's
Not Available in All States

Nationwide Mortgage Loan Terms:

First Mortgage Product is available with a 2/28 or 3/27 LIBOR ARM, a 15/15 and 30/30 fixed term, and a 30/15-balloon term. The 2/28, 3/27 and 30/30 terms are available with an Interest Only option with some restrictions.
The Second Mortgage Loans are available with a 15,20, 25 and 30-Year fixed term and a 30/15-balloon term..
Pricing is subject to change daily. Please refer to loan officer for updated interest rates by state.
40 Yr Amortization: First Mortgage programs are available with a 2/38 or 3/37 LIBOR ARM and 40/30 Balloon first
Interest only is available on the 2/28, 3/27 and 30/30 first liens only

Apply Online or Call our Friendly & Experienced Loan Department at 1-800-584-0694