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In addition to our
traditional FHA products, NYMC offers
low down payment programs for, teachers,
police, firefighters, and medical workers.
Qualified individuals can get into a home with
as little as $500 down (on single family
homes, see guidelines below for 2+ families)
Workers Who Can Qualify
Teacher
Full or part time teacher, administrator,
librarian, counselor, administrative support
and custodial staff
Police and Firefighter
Full time sworn member of a police
department, sheriff's office, corrections
department or other agency who is responsible
for law enforcement or offender detention;
full time sworn member of fire department who
is responsible for fire suppression, emergency
medical response and terrorism response
Medical Workers
Medical resident, physician or fellow, full
time dentist, oral surgeon, dental assistant;
full time healthcare employess including RN,
LPN, LVN, CAN, AUA, UAP, physician's
assistant, licensed medical technologist or
therapist
Qualifying guidelines
100% Financing only on 1 unit Single Family
Home/Condo or PUD (Planned Unit Development)
95% on 2 unit homes. NO Manufactured Homes
Applicant must contribute the lesser of 1%
of sales prices or $500 towards down payment
or closing costs (3% for 2-Unit properties)
Balance of down payment and closing costs
may be a gift from family member, DAP or
grant. Seller can contribute to closing costs.
Credit Requirements
Less than 97% Financing requires middle
FICO score of 620
Greater than 97% Financing. Credit
scores dependent on income ratios. To
learn what income ratios are, click here.
38/38 Middle Fico of 620-659
41/41 Middle Fico of 660-719
45/45 Middle Fico of 720
For
a deeper understanding of what FICO scores
are, click here
If you have any questions or need anything
explained give
one of our loan specialists a call.
They will be happy to go over all qualifying
requirements with you.
AS A SERVICE TO POLICE, FIREFIGHTERS, AND
TEACHERS AND BECAUSE IT WAS REQUESTED WE ARE
LISTING HOMES FOR SALE BY OTHER POLICE
OFFICERS, FIREFIGHTERS AND TEACHERS AT THE
LINKS BELOW. NOTE: NYMC IS NOT A REAL ESTATE
AGENCY NOR ARE WE IN THE BUSINESS OF SELLING
HOMES. WE ARE PROVIDING THIS AS A SERVICE TO
OUR PRESENT AND FUTURE CUSTOMERS WHO HAVE
HOMES FOR SALE.
Homes For Sale By Police Officers
Single
Family Home - Monroe, Orange County - New York
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