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Montauk, NY FHA Loans in New York

FHA loans differ from conventional loans in a number of ways. The down payment required for an FHA-insured loan is usually much lower than for conventional loans. FHA loans also have lower credit requirements than conventional loans, making them more available to a wider range of potential homebuyers.

 

FHA loans offer Montauk, NY residents several other valuable benefits, not least of which is those aforementioned smaller down payments. Unlike a conventional loan, which ordinarily requires 10-20% down, FHA-insured loans only require down payments as low as 3-5%. The FHA is also more flexible in calculating factors to determine whether or not to approve the loan, factors such as household income and repayment ratios.

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Montauk, New York News
East Hampton police reports

Cesar A. Roman, 41, of Hampton Bays, was arrested and charged with aggravated unlicensed operation of a vehicle in the third degree at 6:45 a.m. Wednesday, November 26, at Route 27 and Daniels Hole Road in ...


Westbury exec killed in boat mishap off Montauk

The president of a Westbury security firm on a Sunday fishing trip with his son off Montauk drowned after he became tangled in the anchor line and was pulled overboard, according to police and the Coast Guard.


Town to buy woodlands in Amagansett

Jeremy Samuelson of the Group for the East End called the purchase of 5.8 acres in Stony Hill Woods for $2.4 million a "fire sale price." The East Hampton Town Board discussed three land purchases at its ...


East Hampton Police Reports

Andres F. Coronado-Munoz, 19, of East Hampton, was arrested and charged with aggravated unlicensed operation of a vehicle in the third degree at 7:50 p.m. on Monday, November 17, at Route 27 and South Eagle ...


Favorite East Hampton watering hole and restaurant to change hands

Nichol's, a popular watering hole and restaurant on Montauk Highway, is getting a new owner.


State proposes cuts to school aid

Local school districts could lose as much as 10 percent of their state aid, according to a sweeping deficit reduction plan proposed by Governor David A. Paterson last week.


Montauk Lighthouse Gets a New Holiday Look

Visitors to New York State's oldest lighthouse may soon see it in a new light. The 212-year-old Montauk Point Lighthouse will be outlined in 3,000 tiny, energy-efficient bulbs for the holiday season.


Miller: Perhaps there's hope for the bays

Three hundred sixty-eight years after Europeans stepped ashore on the East End, wea re still coming to terms with it.


Long Island fleet charged with illegal fishing

A Long Island fishing fleet and a captain are accused of illegally taking customers to catch striped bass in federal waters.


Montauk downtown study gets wary eye from residents

Katherine Foley, owner of Air and Speed Surf Shop, discusses parking issues with Town Planners.


Charter boat operators face civil charges

Two charter boat operators from Avalon, Cape May County, and Montauk, N.Y., face civil complaints by federal fisheries law enforcement agents who allege the captains illegally fished for striped bass in federal ...


A recaptured shark can be bittersweet

Each season I end up tagging 200 to 300 sharks off our coast, and throughout the year I periodically get notifications from the National Marine Fisheries Service that one of our sharks has been recaptured.


NOAA Charges 'Unscrupulous' Charter Operators With Illegal Fishing For Striped Bass

Viking Starship Inc. has been charged with fishing, harvesting, possessing and retaining Atlantic striped bass illegally from federal waters.


Montauk community notes

Just before the presidential election, we took a brief vacation to visit with husband Ed's family in northern Italy and to meet up with his Alaskan journalist cousins in Munich.


Scallop harvest disappointing in East Hampton

Scallop watchers had high hopes that this year's opening of the bay scallop season in East Hampton Town waters would bring a rich bounty of the tender shellfish to town docks.


Springs community notes

I was looking out my back window the other day when I noticed two turkeys slowly creeping up on my two-pound dog.


Slow economy may have prompted ferry company to settle suit against East Hampton

The Cross Sound Ferry company, which announced last month that it had settled its lawsuit with the Town of East Hampton over the town's ban on vehicular ferry terminals, did so because it no longer had any ...


Following complaints, East Hampton asks court to block waterfront business

Photo sent to the town by the East Like Drive Association in Montauk purporting to show business activity at a waterfront property where no site plan has been approved.


A "Stable" of Artists at the Principi Art Barn

What happens when you put 19 artists into a gigantic space that was formerly a horse stable? You get a wonderful, rustic, perfect and distinctive art gallery that is unlike any other in the Hamptons.


Where to vote in East Hampton

Next Tuesday, November 4, is Election Day. Polls will be open from 6 a.m. to 9 p.m. Anyone standing in line at 9 p.m. will be allowed to vote, but no one will be allowed to stand in line after 9 p.m., according ...


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