Regulatory and Government agencies have set industry standards governing lenders eligibility to grant home loans.  Please review the acceptable and non-acceptable standards listed below before completing your loan application to ensure your loan request is within these standards.  If you are unsure of your eligibility for a loan based on these restrictions, please contact your Bethpage Federal Credit Union loan officer.

Types of Property
(Subject to Availability of Similar Properties For Comparison by Appraiser)

Acceptable

• Single, 2, 3, 4 Living Units (Owner Occupied Only)
• Second Homes (Single Family Units Only)
• Condominiums
• Planned Unit Developments
• Townhouses,
• Cooperatives (Co-ops) in Nassau, Suffolk counties and NY Metro Area

Not Acceptable

• 5 or More Living Units
• Farms
• Vacant Land
• Mobile Homes
• Time Shared Properties
• Mixed use Commercial Properties (Any Property With Income Producing Service, Office with In/Out, Traffic or Advertisement)
• Investment Properties (Non-Owner Occupied)

Loan Purpose

Acceptable

• Purchase of Home
• Refinance of Existing Property
• Permanent Loan to Pay Off A Construction Lien
• Debt consolidation

Not Acceptable

• Construction
• Land Contracts
• Wrap-Arounds

Mortgage loans available in all states except Texas.

Second home loans available in NY, NJ, PA, CT, VA, MD, ME, NH, NC, SC, GA & FL only.  The property that will secure the loan must become your principle residence at some future time.