Home Buying in 11218>Question Details

Ant2177, Home Buyer in 10314

How much is needed to buy a property with an FHA loan? What are the limitations/types of properties available for FHA loans in staten island?

Asked by Ant2177, 10314 Tue May 24, 2011

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3.5% down however we have variouse grant programs to assist 1st time home buyers if interested contact Cheryl At Discount Home Mortgage 718528-0645
0 votes Thank Flag Link Fri Sep 6, 2013
The minimum down payment for a FHA loan is 3.5% of the sales price. Closing costs generally run 4-5% of the loan amount in the 5 boroughs and can be financed by means of a sellers concession. all 1-4 unit residential properties, and condos that are FHA approved are eligible for FHA financing granted the property meets FHA minimum guidelines. Feel free to contact me if you have any detailed questions or for a pre-approval at 347-903-5626 or email at egroussman@myhsoa.com

Ed Groussman
Community Banker
Home Savings of America
0 votes Thank Flag Link Fri Jun 3, 2011
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