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what if you have good credit but a low down payment, can you still get a mortgage

  • September 11 2013 - West Islip
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Answers (10)

There are multiple loans that you can receive with as low as 3% down. However you also have to include your closing cost. The best thing to do is to receive an honest assessment of your situation. I am close to West Islip. I used to practice football at the field behind the library. Please contact me to schedule an appointment.
  • November 07 2013
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I have seen a lot of answers for smaller loans...

But if you are looking for a JUMBO loan,  I have products that can offer up to 90% financing on loan up to $2,000,000 with NO PMI.

I hope that answer helps you if you are looking for a JUMBO!

Good Luck!
  • September 12 2013
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You can get a conventional loan with as little as 3% down and a FHA loan with 3.5% down. If you are in a rural area and have a moderate income you could also look into USDA home loans which require 0% down. USDA has regional and income limitations that are very specific that you can look at on http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
  • September 11 2013
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Yes! There are loan products that lenders like myself offer that can fit your scenario. An FHA loan is usually the popular route people take when they do not have a large down payment. The FHA down payment only requires 3.5% which is relatively low. Also, if you are a veteran you are eligible for a VA loan that doesn't require any down payment at all. These are some loans you should look into and consider since they offer great benefits when it comes to down payments.

If you have any other questions or need a loan please contact me through the information on my profile page. [deleted by Zillow moderator. Please see our good Neighbor Policy for posting guidelines]

I hope this helps and good luck!
  • September 11 2013
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Yes, it is possible!  FHA, and VA are the most well known programs and allow for minimal downpayment.  (0% for VA, and 3.5% for FHA)  Many lenders also offer internal programs that have similar down payment requirements and lower PMI options.  Give me a call if you have any questions.  I'll be happy to go over the details with you.  

Thanks,
Adam
  • September 11 2013
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Many products available

FHA 3.5% Down
VA 0% Down
USDA 0% Down
MyCommunity Fannie 3% Down

Please contact a lender in your area for assistance
  • September 11 2013
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Yes you can, provided that you have enough income.  There are a couple of different options.  One would be an FHA loan where you put down 3.5%.  With this, we can also try to negotiate a "seller concession" where part of the stated purchase price is credited back to you at closing to cover some of your closing costs.

Tom Moser
Keystone Realty USA

Long Island's Commission Rebate Realtor
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  • September 11 2013
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You also have the option to go FHA of 3.5% down.  You also need to take in to account closing fees.
  • September 11 2013
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Veterans' loans have zero downpayment.  USDA loans have zero downpayment if buying in a designated rural area.  FHA requires minimum 3.5% down
  • September 11 2013
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VA loans are 0% down payment. 
  • September 11 2013
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