Home Buyers Programs

Online Bargain Fixed Rate
Limited Funds Available. First come, first served.

FHA
Past Credit Problems? Low down payment? Gifts and SUSU? Past Bankruptcy? It's all ok F.H.A.! Only 3% down payment needed to buy a 1-4 family home and the seller can pay all of the closing costs.

1st Republic Mortgage Bankers is a direct FHA lender. We process, approve, and close FHA loans in one place. By eliminating the middleman, the buyer saves time and money. Buying with a realtor? You have the right to deal direct with the bank. 1st Republic offers low fixed rates with no points, and free preapprovals.

Home owners can benefit from the FHA refinance up to 97% of value, get cash out, or consolidate debt. It's all OK, FHA! Don't pay high rates because of past credit problems.

Past credit problems understood. Past bankruptcy? Past foreclosure? We understand bad things happen to good people, and we are empowered by the FHA to approve FHA loans. We will bend over backwards to work with you and your individual needs.

Conventional
Community Home Buyer Mortgages
Very flexible loans that only require 3% down payment and the seller is allowed to pay part of your closing costs. Very flexible as to understanding the culture of immigrant and minority communities; including large families living together in one home. SUSU is an acceptable source of down payment/closing cost funds. Cash on hand ("mattress money") can also be acceptable. No credit history can be allowed, if you can provide "alternative credit" documentation such as proof of timely payments of: rent, utilities, telephone bills, cable bills, etc.

A Minus Programs
For slightly higher rates, these mortgages allow for all of the above plus some past credit problems. These programs are like a safety net for those who do not quite meet FNMA/FHLMC guidelines.

Non-Conforming Loans (B-D Credit)
These programs help those with an impaired credit history. They are at much higher rates and require a larger down payment (10%). The terms depend on your credit history & score, and the amount of income/asset documentation you can provide.

This type of loan program has become very popular in the last couple of years. It serves a significant part of the home buying public's financing needs to become homeowners. Once they begin making payments on time, the borrower can rebuild their credit, and possibly refinance to a lower rate later on. This loan can be the borrower's first step to rebuilding their credit history.

SONYMA
1st Republic is proud to offer our SONYMA Mortgage Program! SONYMA offers the lowest possible interest rate for new home buyers!

• Available to 1st Time Home Buyers Only.
• Only 3% Down Required.
• Seller can pay some of the closing costs.

Veterans Program
Mortgages Up to $417,000
No Money Down Required!

• 1-4 Family Houses & Condos.
• No Mortgage Insurance Necessary.
• No Prepayment Penalties.
• 15 or 30 Year Fixed Rate Programs.
• Low Interest Rates.
• Past Credit Problems & Bankruptcies are OK!

We Make Home Buying Easier!
We Approve, Process, and Close in One Place! Come learn more about our Mortgage Programs by attending one of our many Home Buyers Seminars - held monthly at locations throughout NYC.

For a free consultation/preapproval with no obligation, call toll free 888-USA-MTGE, 7 days a week or click here to have one of our professional loan officers contact you.