Home Buying in East Meadow>Question Details

crisd21, Home Buyer in New York, NY

Sonymae v. FHA down payment

Asked by crisd21, New York, NY Tue Sep 11, 2012

DH and I were pre-approved for an FHA loan but we are hopefully (fingers crossed) when the time comes going to be approved for a sonymae loan. With a Sonymae loan buyer only has to put 3% down but with an FHA its 3.5% my question is if I make an offer on a house and have to inform the seller of my down payment can I put 3.5% and then in the event we are approved for a sonymae loan can I change that number to 3%? I hope I made some sense..... feeling a little overwhelmed here. TIA

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To find out the qualifications for a SONYMA loan go to http://www.sonyma.org. Or call 1-800-382-HOME(4663).
0 votes Thank Flag Link Tue Sep 11, 2012
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