• We now offer a 40-year loan with the first 10 years as interest only, enjoy a low monthly mortgage payment!!!
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Expanded FHA Loans

Expanded FHA Loans

At MortgageDepot we strive to provide our valued clients with the best overall selection of loan programs for all needs. We understand that there is not a one-size-fits all financing program that will meet your needs, and we strive to provide the best combination of financing solutions available. Because we are committed to serving all of our customers’ various needs, we offer expanded FHA loans.

If you are interested in learning more about the qualifications and guidelines for some of the different expanded options available through FHA, you can reach out to us for more information.

There are several programs currently available through FHA, and these are designed to meet the current and varying needs of different homeowners and home buyers. For example, the FHA fixed rate program continues to be available, and this may be well-suited for traditional home buyers and homeowners who want to refinance their mortgage. The FHA ARM program is also a popular and traditional option available, and many who qualify for the fixed rate program will also qualify for the ARM program. In addition, there is now a Secure Refi program available through the FHA as well as various other programs such as a Growing Equity mortgage, an Energy Efficient Mortgage, Condominium Loan Program and others. Each has unique requirements, lending parameters, and guidelines. It can take a lot of time and effort to explore all of the options on your own, and a better solution is to reach out to our team at MortgageDepot for personalized assistance and guidance. We are committed to helping each client achieve their goals by providing competitive financing.

While FHA loans have been among the most popular types of home loans that borrowers have applied for years, there are now expanded FHA loans that are also available to meet varying needs. With our full range of loan programs and our focus on serving your needs, we are the mortgage broker you want to reach out to. If you are interested in learning more about these programs or in determining if you qualify for one or more of them.

Contact us today for a FREE consultation at 800-535-0270

Home Possible Highlights

Home Possible Highlights


MortgageDepot is one of the first brokers to have preferred Freddie Mac LP Home Possible pricing. Up to a .25% better than Fannie Mae interest rates AND possible credits towards closing costs depending upon borrower income. ALL loan types are eligible (except for high balance) if under the income limit of 134,310 for NYC and Long Island.


  • Financing up to 97% LTV for Purchase or Rate/Term refinance
  • Client does not need to be a first-time homebuyer
  • Current loan does not need to be owned by Freddie Mac
  • Best fit for clients with FICO > 680 and LTV > 80%
  • Fewer price adjustments & cheaper mortgage insurance
  • Down payment can be a gift.
  • Simpler student loan requirements CAN USE THE PAYMENT LISTED ON THE CREDIT REPORT!!!!!
    Applies to Purchase loans locked 10/10/16 – 12/10/16:
  • 1% credit applied when the client’s income ≤ 50% of the Area Median Income by county and state.
  • .25% credit applied when the client’s income is > 50% and ≤ 75% of the Area Median Income by county and state.



Contact us today for a FREE consultation at (800) 535-0270

Jumbo Loans as low as 600 credit score

Jumbo Loans as low as 600 credit score

Are you self-employed borrowers or wage earner Borrowers who don’t quite have the credit to qualify for a Prime Jumbo mortgage loan?

  • We offer Jumbo Loans for Full doc or Alt Doc as low as 600 credit score
  • 90% LTV with NO MI Jumbo loans with 720+ scores.
  • We also offer a Business or Personal Bank Statement Program for income purpose.
  • NO DOC Program for Investment properties- NO Income, No Employment, NO reserves up to 75% LTV
  • Stated Income program for Jumbo Higher Net Worth borrowers.

Here are some guidelines for our FHA and VA programs.

We really do Approve More Loans!  24-48 hour Turn Times. 


  • NO OVERLAYS w/an Approve Eligible, Follow the findings!
  • MAX DTI PER Findings!  up to 56.99% per HUD.
  • NO Minimum Tradelines,  follow THE Findings!
  • NO VOR needed, follow findings!
  • W2 Transcript Only program
  • Manufactured Homes OK too!
  • Manual Underwrites
  • Minimum Score is 580
  • Take a look at our rates, the link is below.


  • NO OVERLAYS WITH an Approve Eligible, follow findings.
  • Manual Underwrites Ok
  • 100% LTV CASH OUT
  • IRRRLS to 580 score
  • Manufactured Homes OK
  • Minimum score is 580

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

Conventional Loans

Conventional Loans

Deciding on the home to purchase is only the first of many decisions buyers must make. Financing the purchase can make the typical buyer wish for a friend or relative in the mortgage business.

At Mortgage Depot, we are your source for everything you need to know about financing the purchase of a home. Our mortgage brokers have earned a reputation as being trusted sources of accurate and useful information about all types of home financing, including conventional loans. As mortgage brokers, we focus on the needs of our borrowers from the loan application all the way through the closing when the home of a buyer’s dreams becomes a reality.

We are your source for everything you need to know about conventional loans

We look out for the interests of our borrowers and serve as a liaison between them and mortgage lenders, such as Homestead Funding Corp. Our team of mortgage professionals realizes that choosing the right loan program can be confusing because of the many options that are available.

Conventional loans, for example, offer advantages for some borrowers over government insured or government backed loans, such those backed by the Federal Housing Administration or by the U.S. Department of Veterans Affairs. Some of the advantages of a conventional loan over one that is backed by the government include:

  • Financing allowed for the purchase of a second home
  • Low down payments that can include gifts received from others
  • No restrictions for first-time buyers
  • Buyers may have someone cosign the loan with them

Our years of experience gives us the knowledge and the insight to advise borrowers about their conventional loans and assist them to find the lender with the loan that is right for them.

MortgageDepot offers borrowers personalized service

Because we are mortgage brokers and not lenders, MortgageDepot focuses on what is best for our borrowers. Included among the many services we provide to people purchasing homes are the following:

  • We meet with the borrower to answer questions about the loan process
  • We help borrows decide on the loan program that is right for them
  • We complete the loan application with personal and financial information gathered from the borrower
  • We search among the various lenders to find the best interest rates and loan terms that are available
  • We submit the loan application to the lender offering the best loan for the borrower
  • We communicate with the lender on behalf of our borrower
  • We work closely with the borrower and the lender to obtain any additional documentation or information required to get the application approved

Find out what MortgageDepot can do for you

Our mortgage brokers are committed to helping you obtain the best conventional loan terms. We can do this because we work with many lenders to get you the best loan at the best rates available. Visit us at MortgageDepot.com to find out what we can do for you.

To contact us by phone call 800-535-0270

VA Loans

VA Loans

Former members of the United States Armed Services may be eligible for loans through the United States Department of Veterans Affairs. VA loans have several significant advantages over loans provided and secured through private sources.

First, VA loans typically have lower interest rates and lower upfront costs than loans available through private parties in New York. Over the long run, that can save borrowers tens of thousands of dollars.

Second, VA loans typically guarantee borrowers the ability to skip up to two mortgage payments over the course of repayment. That offers a little extra financial flexibility if things go wrong. For example, if you lose your job and your spouse has a health crisis in the same month, it would be nice to be able to skip the mortgage payment that month.

Third, borrowers through the VA program often have the ability to take out extra capital for home improvements related to energy efficiency. If you’re buying a new home with windows from the 1950s, for example, you could borrow a few thousand dollars extra to pay for new, energy-efficient windows.

VA loans aren’t available to everyone. Only former members of the Armed Services holding honorable discharges are eligible in most cases. A number of benefits you are eligible to receive may also vary according to your rank and time of service. A captain with 20 years of time served, for example, is eligible for much greater benefits than a private with 4 years of service.

Finally, while VA loans are usually a great deal, some people may find that private loans offer better rates. If you have very high income and great credit, for example, you may be better off avoiding the VA.

VA loans are available for both new home purchases and refinancing projects in New York, so if you think you might qualify, contact a friendly banker today.

We have loan originators that specialize in VA Financing. Give us a call to a Free no obligation consultation.

Contact us for a FREE consultation at 800-535-0270 or email us by clicking here

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