A good mortgage broker helps to make the closing of a mortgage loan as seamless as possible. Friends, who are homeowners, and your buyer rebate agent will be able to recommend mortgage brokers who they have worked with locally. Interview Read more
Lenders are informed of buyer rebates to comply with federal law. Lenders do not allow for money to be given to the buyer after the closing. Imagine: You are lending $80 dollars to the buyer with a $20 dollar down Read more
Upon 3 days of receiving your loan application, the lender will issue a loan estimate letter to you. It will include every feature of the loan to help you understand the scheduled repayment amounts that you are responsible for. The Read more
Adjustable rate mortgages (ARM) often come with low initial interest rates, then the rate increases to a higher market rate set against some type of Fed index after the initial teaser period expires. An ARM may be right for you Read more
Closing cost estimates for co-op sellers are only for reference. The exact cost to the seller will be different on the closing cost details provided by the seller’s lender and attorney. Pay attention to the broker’s commission and taxes. These Read more
The average real estate transaction in New York City is relatively large and can amount to millions of dollars. Collecting 1% of the total purchase price as commission is a reasonable fee on these transactions. At the same time, the Read more
Technology has enabled brokers to complete market analysis on a property in a few clicks. What used to take hours of work looking through city records manually is now done in a few minutes through websites such as StreetEasy. Comparable Read more
Owning a home comes with monthly mortgage payments, property taxes, homeowners insurance, repair and maintenance of the things that break. Seems like a lot of responsibility, but not necessarily more than coming up with the monthly rent that allows you Read more
NY REAL ESTATE BUYER REBATES ARE LEGAL Real estate broker commission rebates are legal in 40 states, including New York state. NY Attorney General Eric T. Schneiderman issued a public letter confirming that commission rebates are legal. New Yorkers are encouraged to Read more
Some homeowners are not ready to sell until you present them with the idea of someone wanting to buy their home because of the nearby schools or the family oriented community. Include your best family photo with the letter of Read more