Federal Housing Administration loans, both fixed and adjustable, offer a number of advantages including a low down payment of only 2.25%, of which the entire amount can be gifted. Loan limits vary depending upon state and county locations within the country. They are designed for owner-occupied 1 to 4 unit properties.



FHA 203k mortgages offer the advantage of combining the cost of purchasing or refinancing with the cost of making specified improvements into a single mortgage. They are designed for 1-4 family owner-occupied properties.



This program offers a variety of grant programs which are available to owner-occupied homebuyers, providing them with funds for down payment and closing costs, so there is no buyer contribution required. There are no income limitations and no first time homebuyer requirements. In addition, there are no lien, resale or recapture provisions.



Eligible veterans or reservists may qualify for and obtain VA mortgages with no down payment required. They are available in fixed rate loans only. Seller can pay closing costs and prepaids to enable a purchaser to buy with no out-of-pocket expense.



Streamline refinances allow current FHA and VA mortgage holders the ability to lower their rates and payments, thus saving thousands of dollars over the life of the loan. This may be accomplished without a credit report and without an appraisal or verification of deposits, income or liabilities. This type of loan is dependent upon current rates which at times can be accomplished at no cost to the applicant.



If you are thinking of having a new home built, construction loans are available for stick-built dwellings, modular homes, log homes and double-wide mobile homes. Financing of the land can be included. In many instances where the borrower owns their own land, their equity in the land will cover the down payment, closing costs and prepaid expenses so that no additional cash is required.



This type of loan is for borrowers who cannot document their source of income and meet credit, asset and qualifying requirements.



This type of loan is for qualified applicants interested in consolidating existing debt. It is available to applicants who have limited equity in their home provided they meet predefined credit and qualifying criteria.



First Niagara Mortgage.’s bi-weekly program consists of a payment service whereby homeowners can realize savings of thousands of dollars in interest as well as a reduced loan term with no up-front costs.

Alternative financing is available for borrowers with “less than perfect” credit. Qualifications are based on equity, assets and credit score.

First Niagara Mortgage. has the widest variety of mortgages available. If you would like further information about a loan, please contact us.