RBI HOME LOANS is approved through the Federal Housing Authority to do Government backed FHA mortgage loans in New York and New Jersey. Since receiving RBI HOME LOANS began offering FHA mortgage loans in NY & NJ they have had great success with FIRST TIME HOME BUYERS.
Some Key Benefits to FHA Loans
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Minimum down payment is only 3.5% of the purchase price with only a 600 or better credit score.
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The down payment can be received as a gift from a family member
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The seller of the home may give the buyer up to 6% of the purchase price towards the buyers closing costs
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FHA interest rates are lower than conventional rates due to being a goverment loan.
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You only need to have 3 tradelines open on your credit report for 12 months each. If you don't have 3 then the lender will except alternate credit with a 12 month payment hisotry including (Proof of rent checks, car insurance, cell phone bills, utility bills and renta center payment history etc)
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FHA also has a program called the 203K rehabilitation loan which allows you to receive money to renvoate a distressed property with only 3.5% down payment.
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FHA allows you to do a "Streamline Refinance" which is a FHA to FHA loan rate reduction into the lowest available rates with a no closing cost option.
Call for a Free FHA Pre-Qual 732-290-1888
and ask for our
FHA Mortgage Expert John Yurkovich NMLS# 206495
RBI Home Loans - 3010 Bordentown Ave Suite 3 - Parlin, NJ 08859
Main: (732) 290-1888 Fax: (732) 749-1683
Email: jyurkovich@rbiloans.com
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We lend in the following states: NY, NJ,CT, SC, FL
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