I'll be happy to provide you with the contact information for lenders who carry FHA and explain in detail how it woks, including buying a distressed property in need of extensive renovations using FHA 203K Rehab loan.
Multi-million dollar producer
SONYMA (State of New York Mortgage Agency) has five (5) programs for first time home buyers...low down payments and low mortgage interest rates.
Check it out on line at: http://www.nyshcr.org/topics/home/buyer ... or call: 1-800.382.HOME (4663).
Also, feel free to contact me directly at email@example.com or firstname.lastname@example.org to obtain the names and contact information of mortgage consultants in the area who handle the SONYMA products.