Are You Ready for a Mortgage?
If you are buying a home in New York, Freedom One Funding can help you find the best mortgage possible for your circumstances. We offer a variety of mortgage products from third party lenders. Through our network, we can compare New York mortgage rates and terms and find a solution to meet your personal financial needs. Some mortgage programs, like FHA and VA programs, are guaranteed by the government.
When buying a home, especially in a competitive market, it’s important that you are pre-qualified. This lets the seller know that you are serious about buying a home and helps expedite the home buying process. Getting pre-qualified for a mortgage also helps you understand how much house you can afford.
At Freedom One Funding, we have access to a number of New York Mortgage loan options, including:
FHA Loan
FHA Loan
Down payment as low as 3.5%, and accepts lower credit scores than other loan types.
30 Year Fixed Mortgage
30 Year Fixed Mortgage
Payments are spread over 30 years and the interest rate remains the same over the life of the loan.
15 Year Fixed Rate Mortgage
15 Year Fixed Rate Mortgage
Monthly payments are spread out over 15 years and the interest rate does not change. You will pay less interest than with a 30 year.
Adjustable Rate Mortgage
Adjustable Rate Mortgage
Typically a low fixed interest rate for the first few years, then adjust to the market rate.
VA Loan
VA Loan
Qualified veterans and service members can finance up to 100% of their loan and pay less money at closing.
USDA Mortgages
USDA Mortgages
Low to no down payment, income qualification required, applies to rural and some suburban areas.
Jumbo Loans
Jumbo Loans
Larger dollar amounts, over $548,250 to $2,000,000 with a fixed or adjustable interest rate over the life of the loan
Balloon Mortgage
Balloon Mortgage
Payments are small at the beginning of the loan, but you are committed to paying off the loan in one lump sum at the end.
Reverse Mortgage
Reverse Mortgage
For those 62 and older, converts existing home equity into cash.
When applying for a new mortgage, you will need to have the following information ready:
- Basic identification of each borrower
- Information about the home you want to buy
- Monthly income and expenses
- Income verification: W-2’s, pay stubs, income tax returns
- Assets: Bank statements, Retirement / Investment Accounts
- Debts: Existing loan information, credit card payments, student loans, etc
- Credit verification
The actual list of documents you need may vary from lender to lender.
