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Mortgage Money Still Available

By Scott Ingalls

Real Estate Agent with Nothnagle Realtors

October 25, 2008 03:46 AM

As a quick update for my clients in the Mendon, Henrietta and Pittsford, NY area, despite what you may have heard or read, there's still plenty of money available for mortgages.

Some highlights from NHSC are:

VA loans are offered at 100% financing for qualified veterans.

SONYMA loans are available with 97% financing for first time homebuyers.

FHA loans are offered with 97.5% financing for all buyers.

Conventional loans are offered with 95% financing available.

Several programs have income limits, purchase price limits and minimum credit scores--yet most borrowers meet the criteria.

Contact me today for a confidential review of your situation, it really is a good time to buy!

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Scott Ingalls

Nothnagle Realtors - Rochester, NY

Hi Jay: Rates are changing almost daily and some of the Banks offering them change with the risk ratios also, so it is hard to target one number. Both capacity and credit worthiness are taken into account at this time, for the best conventional rates. FHA, VA and SONYMA are as stated in the paper. If you would like to look at your specific situation, I'd be happy to help, email me.

As a rule of thumb, but not perfect, you may be able to shave 1/2 point off, or have more attractive terms, totally determined by the above. Average terms are posted for average FICO's. Once again, determined by the timing to the Bank, good news is that rates are currently under last year at this time.

Oct 29, 2008 03:51 AM

Mortgage Money Still Available

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Scott Ingalls

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