Minimum Down Payment Financing - Green River

Flexibility, Opportunity,
& Tax Deductible

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Found Your Dream Home? We’ll Help You Purchase with a Minimum Down Payment.

We needed to get a mortgage quickly and Sam came through like a superhero. Green River Capital got us to the finish line with professionalism and always kept us informed. Thank you very much. - Izzy Revivo

An Amazing Time to Save: Minimum Down Payment Rates are at Historic Lows.

A minimum down payment loan is a type of mortgage with a loan amount that is higher than conforming mortgage loan limits, which is why it’s sometimes referred to as a “non-conforming” loan. Minimum down payment loans are often referred to as “Jumbo Loans.”

Conforming loan limits and minimum down payment loan limits are determined by Fannie Mae and Freddie Mac; the 2 largest purchasers of mortgages from lenders. These two institutions only buy mortgages meeting their guidelines for down payment, credit score, post-closing reserves, and loan size.

Minimum down payment loans provide the same flexibility as conforming loans, but because they are not offered by Fannie Mae or Freddie Mac, they’re sold on the secondary market. Due to this regulation, minimum down payment loans are slightly higher than conforming home loans.

In general, minimum down payment loans are for mortgages between $417,000 and $3,000,000.

Benefits of Minimum Down Payment Loans: Flexibility, Opportunity, & Tax Deductible

  • • Interest on a minimum down payment loans is tax deductible up to 1 million dollars.
  • • Minimum down payment mortgage loan rates are at historic lows, and in some circumstances, are even lower than conforming loans. This has been a trend for approximately two years.
  • • Want to see your credit score improve? Making your minimum down payment mortgage payments on time will rapidly improve your credit score.

Must Knows about Minimum Down Payment Loans:

  • • For those who qualify, minimum down payment loans are an excellent way to go. However, the following details are important when considering your options:
  • • New York minimum down payment loans are mortgage loans above $625,500 and can be harder to qualify for than conforming loans.
  • • Borrowers looking to qualify for a minimum down payment loan will likely need a 660 minimum credit score to qualify and 80% equity in the home.
  • • Because minimum down payment loans are large, it could be more costly to refinance a minimum down payment mortgage.

Ideal Circumstances for Minimum Down Payment Mortgages:

  • • If you qualify for a minimum down payment loan, then it might especially right for you, if:
  • • You haven’t saved enough money to be within conforming loan limits, but you’re definitely able to afford a more expensive home.
  • • You want a permanent home for your family while your income increases over time. You’d like to bypass the “starter home” phase and avoid moving later on.
  • • The neighborhood where your desired home is located is surrounded by high-priced real estate.

Contact Us Today

Give us a ring at (866) 407-4418 or Fill out an easy online application today

Contact Us Today

Give us a ring at (866) 407-4418 or Fill out an easy online application today