Military service comes with perks in the form of VA loans. No down payment No private mortgage insurance No prepayment penalty 1.5% to 3.3% of the total borrowed as VA one-time funding fee If your salary can support home ownership without saving up for a down payment, then a VA Read more…
New York City is an international city at the top of global city rankings. Being integrated and connected to the global economy, New York City attracts and appeals foreign buyers from all over the world. A piece of New York City real estate offers value and scarcity on land measuring Read more…
Interest rates fluctuate daily, and lenders will offer you a chance to lock-in rates for 30 or 60 days as you are completing the purchase of your new home. If it is something that you want to lock-in and are willing to pay a little extra for the peace of Read more…
Buying a home is large purchase. Many of the expenses incurred with purchasing a home may be deductible. It is best to let your tax accountant know that you purchased a house and that you want to see what is deductible for the current year.
When we think of search, Google automatically comes to mind. A broker types in a few keywords, and information is returned by Google. In real estate, Zillow, StreetEasy and MLS are the search engines that buyers and brokers have available at their fingertips. These websites aggregate listings from listing brokers Read more…
Whether a Flushing short sale property is sold or bought generally relies on the approval of the original lender. In a short sale, the listed price is lower than what the home owner owes on the mortgage. By selling the property the seller hopes that the lender will forgive the Read more…
Model homes are often shown to potential buyers for condos and homes that have not yet been completed. Once completed, the condos and homes are generally delivered without the full furnishings and same appliances as the model homes. When viewing the models regardless of the listed prices, ask how much Read more…
The debt-to-income ratio helps determine the maximum amount that lenders are willing to lend to you. Debt is everything that you currently owe including credit cards (food, entertainment, transportation, health care), car payments, and student loans. Income is the gross income amount before taxes including salary, investment income, and royalties. Read more…
Sellers in New York generally choose to pay the $500 closing credit to the buyer rather than completing the NYS Property Condition Disclosure Statement. Sellers feel that the disclosure statement may discourage potential buyers instead of fueling interest from potential buyers. As a buyer, the $500 credit helps to pay Read more…
Making a mortgage payment is similar to paying yourself because the money goes into building equity of your real estate property. After paying off the mortgage, the real estate property belongs to you 100%. Buying a home is a long term play. Common mortgages are 15 years to 30 years Read more…