Ridgewood Savings Bank Launches New Flexible Homebuying Option – NMP
Industry News

Ridgewood Savings Bank Launches New Flexible Homebuying Option

Apr 07, 2017
Ridgewood Savings Bank has announced a new flexible homebuying option for both first-time and repeat homebuyers

Ridgewood Savings Bank has announced a new flexible homebuying option for both first-time and repeat homebuyers. Ideal for those who cannot afford a large downpayment, this product offers no application fee and features up to 97percent financing for single-family homes, condos and co-op properties, and up to 95 percent financing for multi-family homes.
 
In addition to these features, non-traditional financing can be applied to the downpayment and to closing costs.
 
“This unique program adds flexibility for young homebuyers where disposable income and limited earning levels may not meet traditional requirements making buying a home more achievable,” said Anthony Simeone, EVP and chief lending officer for Ridgewood Savings Bank.
 
Leonard Stekol, Ridgewood Savings Bank's president and COO, said, "This new affordable lending program is a great option for many of the communities we serve. It inspires homebuyers to be a part of the community they love and to enjoy the value of homeownership.”
 
About the author
NationalMortgageProfessional.com
Link copied
Published
Apr 07, 2017
Get the NMP Daily
Analysis and Data
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Continue reading
Wholesale
The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
Garg Claims Majority In Better Fight, Board Poised To Honor Vote

Founder says he secured more than 51% of voting power to remove five directors, pending confirmation by a third-party inspector

C-Suite Strategies
Oct 01, 2026
Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Industry News
Sep 29, 2026
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News
Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News
Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies
Sep 23, 2026