Is there a conventional mortgage with 3% down in NY? I am not looking for FHA, USDA or VA. I have a student loan in default and I am working on getting it fixed but I can’t wait that long before I buy a new home. What are my options? by darin830 from Hamilton, New York. Feb 10th 2022
Yes and no. Yes, 3% down loans exist but you must be a first-time homeowner to qualify for a loan with only 3% down. Both Fannie Mae and Freddie Mac offer them. No. Until you get your student loans resolved, it is most likely that you will be prevented from obtaining one. The same applies to FHA and USDA loans. Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300.
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