New York Home Loans – 3 Ways to Find the Best Lender
Living in New York can be expensive. The cost of living can be quite high, especially the closer you live to the city. Indeed, when you are looking for a home somewhere near the city, mortgage loans can cost you quite a bit. Even the area known as “the country” around Westchester County and even into Duquesne County is getting more expensive when it comes to getting home mortgage loans in New York. That’s why many people move to upstate New York, with its trains up the Hudson River, beautiful scenery, and relatively low population density. Housing is also much cheaper; you can get more house for the money. But regardless of where you live, there are three things you should look for when choosing the best home loan lender:
Check which lenders offer the best home mortgage rates. Currently, adjustable rates in New York are as low as 4.33 percent, and fixed rates are between 5.33 percent and 5.71 percent, depending on the length of the home loan term and your credit score. Do a little shopping around to find lenders that offer lower interest rates for your credit situation.
Lender Fees and Points.
Find out what each lender charges in terms of fees (such as loan origination) and points. Sometimes a lender with an artificially low mortgage rate charges higher fees to compensate. Double check to make sure the fees and points are low too.
Friendly service is a must when looking for someone to service your home mortgage loan in New York. Make sure you’re dealing with a lender who answers your questions, is genuinely helpful, and is available to answer your questions. Also, make sure your lender will meet deadlines. A low interest rate is no good if you can’t get the house because your lender dropped the ball.
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