Homestead Heart Walks

Jun 16
Category | In the Community

On Saturday, June 3rd, Homestead Funding Corp. participated in the 2017 Capital Region Heart Walk & Run at the University of Albany. Our team consisted of walkers, runners, and volunteers at the Homestead Sponsored Kids Zone! As part of Homestead’s sponsorship, we ran the Kids Zone, which included a kids oriented Zumba class led by Homestead’s Benefits Manager, Margaret Fitzgerald.

Homestead Funding Corp. has been a supporter of the American Heart Association for the last 21 years, and it is an organization that is near and dear to our heart. In particular, Jeff Mason, our Human Resources Director, has been leading our fundraising efforts since day one. In addition, our Vice President of Sales & Marketing, Daniela Bigalli, was part of the American Heart Association's Executive Leadership Team, which spearheaded this year's fundraising efforts. This year, we helped raise $24,485 through sponsorships and donations!

The Heart Walk raises vital funds for the American Heart Association’s research and education programs. Currently, the organization is investing more than $2 million in the local area to fund cutting-edge research, to provide professional and public education, and to make public advocacy efforts in federal, state, and local governments.

To learn more about the Heart Association, please visit their website.


In the middle of receiving phone calls and texts and juggling paperwork, Joel Slutsky, a Loan Originator at Homestead Funding, finds time to help his community. For the past 25 years, he has worked with various charities in the Capital Region of New York. Throughout that time, he has been able to raise over $1.75 million for local kids in need.

This past Sunday, Joel was honored by being inducted into the Ronald McDonald House of the Capital Region’s Hall of Fame at the organization’s Heroes of the House Dinner. The Ronald McDonald House is a non-profit organization dedicated to supporting the family members of children who are affected by serious illnesses. The organization offers families home-cooked meals and even a place to stay so they can focus on what’s important – making sure their kids get better.

“I was a lucky kid growing up,” Joel said, “and I’m a big believer in giving back.” His parents were both involved with charities when he was growing up, so it has been a part of life for him since he can remember. He said he especially loves helping children. He went on to say that he keeps up with his fundraising endeavors because, “my worst day is someone else’s best day.” 

Joel has been involved with the Ronald McDonald House for the past seven years. He helped to organize the Ronald McDonald House NFL Hall of Fame Golf Classic, which has raised over $500k to benefit the organization since the event’s inception. Joel explained that while there are many fundraising events during the summer months, this one stands out because of the food stations on the golf course, the NFL Hall of Famers who join in, and a special visit from professional golfer Blaine McCallister.

Thank you, Joel, and his supporters for working so hard to support this amazing organization.

For more information about the Ronald McDonald House, please visit their website:

Nearly 60 people attended Homestead Funding’s Hope for Haiti fundraiser on Thursday and thanks to the generosity of the
attendees, over $2,000 was raised to benefit the organization!

Amidst the food, raffles and giveaways, a message of perseverance, hope and gratitude was shared. Mell Meus, a Loan Originator for Homestead Funding, was one of the people to spearhead this event. He shared that his grandfather had recently returned from a trip to Haiti. “It really makes you appreciate what you have,” Meus said. “Every dollar we collect makes a difference.”

Hope for Haiti is a non-profit organization that has been helping the people of Haiti for nearly 30 years. By focusing on areas that help with long-term sustainability, Hope for Haiti is able to provide a positive impact for the Haitian people.

If you would like more information about Hope for Haiti, please visit their website:

We would like to thank everyone who attended, donated, and worked on putting this event together!

Home Possible

May 10
Category | Informational

We are excited to announce that Homestead Funding Corp. is expanding our mortgage product line to include Freddie Mac’s Home Possible® program.  Home Possible® offers both purchase and refinance options with outstanding flexibility to meet a variety of borrowers’ needs.   Home Possible® allows us to provide home ownership possibilities to more individuals who otherwise might not be eligible.  This program is ideal for first-time homebuyers, move-up borrowers and retirees, as well as low-to moderate income borrowers.

Although there is no first-time home buyer requirement, if you are taking advantage of Home Possible® as a first-time buyer, you will be required to complete home buyer education. Benefits of this program include 97% financing, only 3% down required, stable monthly payments from a fixed rates mortgage, flexible sources of funds, and 3% seller concessions available.  More liberal income limits are available in higher cost areas, as well as lower private mortgage insurance (PMI) rates. These benefits help to make this program a good option for many individuals.  For more details about this program or other home financing options, please contact your Licensed Loan Originator today! 

By now I’m sure you’ve heard the news that we are currently in a seller’s market. But what does this mean for the housing industry? Basically, it means that there are more homebuyers in the market than there are homes for sale.  Based on the laws of supply and demand, this means that there is heavy competition, and you’re more likely to end up in a bidding war. However, there is one thing you can do to ensure that you are a step above the rest when entering this type of situation. Get preapproved first, with Homestead Funding Corp.

What does it mean to get preapproved? A mortgage preapproval is a commitment from your lender stating how much they would be willing to lend you after evaluating your financial situation. Before you look at homes, a Licensed Loan Originator will review your financial documents, including your credit report, pay stubs, bank statements, and the past two years of W-2s, and have an underwriter review and approve the loan terms.  A preapproval should speed up the loan process significantly and will make you and your offer much more attractive to many sellers.

Having a preapproval letter demonstrates to the seller and seller’s agent that not only are you serious about purchasing, but also that you’ve already been preapproved to purchase a home in a certain price range. Buyers with prequalification letters may also be qualified to purchase but if a seller is deciding between a preapproval offer and a prequalification they will choose the buyer with the preapproval letter assuming all other terms are equal.

As we move further into 2017, the housing industry is continuing to be a seller’s market. Buying a house will continue to be competitive, but you’ll be sure to succeed so long as you’re prepared. Arm yourself with the proper tools—an experienced Realtor, a lot of research, and a willingness to be flexible—and most importantly, prove to sellers that you’re serious by getting preapproved prior to shopping. 

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