Loan Options
Whether you’re buying your first home here in the Hudson Valley or you’re an experienced buyer, or you want to refinance your existing home, we have a multitude of loan options.
You’re assured of finding the loan that best fits your budget and your needs.
Conventional Loans
Traditional loan programs that usually require at least 5% down and offer competitive interest rates. Documentation and fair to good credit are necessary. These are loans up to $417,000.00.
FHA Loans
Backed by the Department of Housing and Urban Development, this mortgage offers the you the ability to put as little a 3.5% down payment. You can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.
203K FHA Loans
Offering the same benefits as FHA loans (above) but with the added ability to finance home improvements that are needed. One mortgage is given based on the value plus improvements up to 115% of the future value. These improvements must be over $5000 and can be for a new kitchen, new bathroom, to add a garage or to structurally improve the property.
VA Loans
Backed by the Veterans Administration and the federal government, VA loans are similar to FHA loans except that you have to be a qualified Veteran or military personnel.
No Down Payment
0% Down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs).
Reverse Mortgages
A reverse mortgage is a special type of loan made to older homeowners to enable them to convert the equity in their home to cash to finance living expenses, home improvements, in home health care, or other needs.
Home Savings of America
312 Wall Street
Kingston, NY 12401
Tel: 845-339-1341
Fax: 845-339-3310
