Are large down payments required for credit mortgage loans? By Cliffco Mortgage, in Long Island, NY

Cliffco Mortgage, Long Island - Phone: 516-408-7300

In this video, Cliffco Mortgage Bankers in Long Island, NY (https://cliffcomortgage.com) answers a question our loan officers often hear from clients seeking pre-approval status in preparation for the purchase of a home.

Large down payments are not required with low credit scores, but when looking there are negative aspects to a loan profile, compensating factors are recommended if possible.

When credit is low, a larger down payment will definitely make a borrowers credit worthiness increase.

Additional comment:

There are multiple aspects which determine the creditworthiness of a person for a mortgage loan. It is relatively rare that all aspects of a credit profile are picture perfect. Our loan officers are here to advise you as to the best strategy to prepare your application for a mortgage loan. This is a personal conversation, and when you work with Cliffco Mortgage Bankers, you work one-on-one with a loan officer -- not some anonymous person shielded behind a 1-800 number who will never have any relationship with you like in big banks. Cliffco Mortgage bankers is a fully delegated mortgage banking institution. That means we originate and fund 100% of our loans. We will never pass your loan off to a third party (contrary to most big banks), and all credit decisions and underwriting are done in-house by our highly-educated loan professionals.

Contact Cliffco Mortgage Bankers to prepare your mortgage loan application the right way for success: 516-408-7300

Cliffco Mortgage Bankers is fully licensed in New York, New Jersey, Pennsylvania, Connecticut, Florida, and Texas. Our home office is in Uniondale, Long Island, NY. We cover all towns and hamlets of Long Island, as well other neighborhoods in NYC.

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