Financing in Rochester>Question Details

Elizabeth1515, Home Buyer in Rochester, NY

Looking for 80/15/5 loans in New York State. Any suggestions?

Asked by Elizabeth1515, Rochester, NY Sat Feb 1, 2014

My family has outgrown our current home. We found a home that we really want to purchase. We are buying it directly from the current owner, who has discounted her asking price by what she would have paid for broker's commission (7%). We can afford the house, however, our credit is low - 640-650 and we do not have the requisite 10% most banks have requested. Are there options for us?

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Greg Stefl’s answer

Please contact the wonderful folks at NeighborWorks Rochester. They are there to help folks just like you in exactly the same types of situations.

And no, NeighborWorks Rochester is not just for purchasing city homes. They help folks throughout Monroe County and can work with you and other lenders to make it happen.


PLEASE give them a call!!
0 votes Thank Flag Link Sun Feb 2, 2014
Prime lending has a 5% down, no PMI (Private Mortgage Insurance). Joe Cutia 585-503-8473
0 votes Thank Flag Link Sun Feb 2, 2014
Elizabeth, Nancy Miersch at M and T. They have great in house programs 585-258-8423
0 votes Thank Flag Link Sun Feb 2, 2014
Good morning Elizabeth,
Try contacting Sam DiPiano at GRB Bank.
p: 585-697-1500 x118
0 votes Thank Flag Link Sun Feb 2, 2014
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