Whenever you see a newscast about the cost of housing on the East Coast, New York is inevitably mentioned.  We are pleased to announce that we have entered into a broker capacity to offer Super Jumbo Loans in select counties within the State of New York.  The lending areas are primarily the five boroughs of New York plus Rockland, Suffolk, Westchester and Nassua  Counties.*  These programs are available for both purchase money and refinance transactions.

Rather than review specific guidelines, just know to contact me to review a scenario for your Super Jumbo financing needs! 

Highlights of this program include loans from $1,000,000 to $5,000,000 with a typical loan to value ratio of 70%*.  Investors: programs are available for those who currently have more than 4 financed properties.  End Investor exceptions are possible for loans up to $10,000,000 with a strong financial background on a case by case basis only.*

Many Manhattanites move out to Westchester County when starting a family, etc., and this is a perfect program to help you buy the home of your dreams!

Typical minimum FICO scores of 680/700 and debt ratios of 42%.*  Full Doc loans only*.  Reserve requirements vary, but are expected to be ample.  12-24 Months of mortgage payments in savings after closing are a typical minimum requirement.*

Common sense lending for Super Jumbo loans in select areas of Metropolitan New York City, including Westchester County!*

Michael Byrne

908-531-6170

www.refi-fhasecure.com

www.mortgageprosofrum.com

 *subject to change without notice by end lender.

Gateway Funding Diversified Mortgage Services, L.P. is licensed by the PA Department of Banking as a first mortgage banker and licensed pursuant to the PA Secondary Mortgage Loan Act; Arkansas Mortgage Company License; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; DC Mortgage Lender and Broker; a Georgia Residential Mortgage Licensee (#15499); Illinois Residential Mortgage Licensee; Kansas licensed Mortgage Company; Massachusetts Mortgage Lender and Broker (#MC-3052); Licensed by the New Hampshire Banking Department (#10192-MBB); Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker NYS Banking Department; a Mortgage Lender and Broker in Rhode Island; Gateway Funding is also authorized or exempt as a mortgage banker in AL, CO, CT, DE, FL, IN, IA, ME, MD MI, MN, MO, MT, NE, NV, NM, NC, OH, OK, OR, SC, TN, TX, UT, VT, VA, WV, and WI. This is not an offer to extend credit to any individual who may be entitled to a more complete disclosure per RESPA, TILA, HOEPA or any other more applicable federal, state or local law or regulation, Rates, Terms, Fees and Equity requirements are subject to change without notice. For qualified borrowers only. Equal Housing Lender.  © 2008 Gateway Funding Diversified Mortgage Services, L.P.

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