Apartments in Federal Housing Association (FHA) approved building can be had with as little as a 3.5% down payment. 500 Fouth Avenue is one of these buildings.

In an article in the NY Post today reports on a program that insures mortgages. In certain buildings that the FHA deems stable, banks are allowed to lend as much as 96.5 percent of the purchase price — 3.5 percent down payment, anyone? After the building and the buyers qualify, borrowers can buy much more than they could have otherwise.