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Special
Loan Programs
Finest Capital is the
Superior Mortgage Source
The Finest Reverse Mortgage
Program
Over 62 and want to live the lifestyle you
deserve? Do you need help meeting your monthly bills? A reverse
mortgage may be for you. Please contact us for a no cost, no obligation
evaluation. A highly trained reverse mortgage specialist will personally
meet with you to ensure you get the best mortgage product available.
The Finest First Time Home Buyers Program
First time home buyers are eligible for many
different and unique programs. There are too many to list and are
regularly being updated, please ask your loan officer for details.
The Finest Teachers Program
Teachers are eligible for a unique program.
As these programs change from time-to-time, please ask your loan officer for
details.
The Finest Officer Next Door Program
Low Down Payment Mortgage
Financing for Uniformed Police Officers (NYPD Home)
Uniformed members of the New York City Police
Department who have successfully completed their two-year probationary periods
are eligible to participate in NYPD Home. Applicants must meet certain
financial and credit requirements to be approved for a mortgage.
Lenders participating in NYPD Home offer 95% to
100% mortgage financing to police officers purchasing homes in New York City.
The lenders also contribute up to $3,500 per loan in closing costs.
Each purchaser is required to contribute a minimum
of 3% to 5% of the purchase price of the home towards closing costs, depending
on the type of property.
The home can be a condo, co-op, or one-, two-, or
three-family home located anywhere within the five boroughs of New York City.
The home must be your primary residence. Police officers who own other
residential properties, except for vacation homes, are not eligible to
participate.
Officers purchasing homes should call Finest
Capital Ltd.
Most mortgages originated under NYPD Home will be
sold to Fannie Mae, the nation's largest source of home financing. Mortgage
amounts must be within Fannie Mae's conforming loan limits. The New York City
Residential Mortgage Insurance Corporation (REMIC) will be providing low cost
mortgage insurance.
Every purchaser is required to take a free
homeownership counseling course, and, where applicable, a landlord-tenant
education course.
Police officers with unsatisfactory credit
profiles may be eligible to participate in NYPD Home after successfully
completing a credit counseling program arranged by a participating lender.
As part of NYPD Home, qualified police officers
will receive preference for purchasing homes in HPD-sponsored homeownership
programs. Police officers who want to purchase HPD-sponsored homes should call
311 to request a homeownership kit.
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