Mortgage Refinansing Help

Mortgage Refinancing Help: New York

“Before you refinance a loan, make sure that you carefully analyze any fees that your lender is including on the loan. The Department of Housing and Urban Development can provide you with a list of standard fees. Use it to make sure that your lender isn't tacking on anything extravagant. And by all means, compare their fees with other lenders in the market. ”

Mortgage Refinancing Help: Business: Financial Services: Mortgages: Regional: United States: New York (38)

Give yourself plenty of time to close. With most refinancings, your file is turned over to a closing or title company, which dictates the closing details. Like the lenders themselves, these firms are swamped when interest rates are low. Moreover, appraisers get backed up and can be difficult to schedule. So don't expect the closing to happen as quickly as anyone promises.

Mortgage Refinancing Help: New York (2010)

See also:

Choice Home Mortgage Services »
Provides residential mortgage financing for Patchogue and the state of New York.

PJM Mortgage Services, Inc. »
Provides residential mortgage financing for Long Island and all of New York.

Oxford Wellington Co »
Offers mortgage broker services to New York State residents.

Adirondack Home Mortgage, Inc. »
Broker provides information on current rates plus calculator, and online pre-qualification. Based in Schenectady.

CUC Mortgage »
Provides residential mortgage financing for New York and Vermont.

New York Association of Mortgage Brokers »
Represents the interests of New York mortgage brokers on both a state and national level.

MultiSource Funding, Inc. »
Broker provides residential mortgage financing in the state of New York.

Mortgage Approvals »
Full-service lender financing all mortgage programs available on the market, licensed in NY, NJ, and CT.

Superior Mortgage Company »
Mortgage broker offers home financing programs to the New York market.

The Manchester Company »
Residential and commercial financing in the state of New York.

Northfield Capital LLC »
Provides commercial real estate financing throughout the United States.

Fast Track Funding »
Provides residential mortgage financing for Hicksville and all of New York.

G and M Wolkenberg »
Provides residential mortgage financing in the New York metropolitan area.

Mid-Island Mortgage Corp. »
Direct lender with access to third party loan packages. Includes programs, FAQs, company profile. Located in Westbury, NY.

Fairview Mortgage Corp. »
Provides residential mortgages and finance services throughout New York.

Alternative Capital »
Provides commercial and residential mortgages for Cheektowaga and all of New York.

M&T Mortgage Corporation »
Provides residential mortgage financing for Ballston Lake and the state of New York.

Gefen Financial Corp. »
Broker offering residential and commercial property financing. Features programs, articles, client testimonials. Based in Staten Island.

Universal Mortgage, Inc. »
Provides mortgage and finance solutions for New York and all of New York.

Park Avenue Mortgage Group »
Mortgage lender offers a full line of mortgage financing products to CT and NY.

Commerce Capital Inc. »
Offering mortgage service for all of New York State with refinancing, purchasing a home, debt consolidation, and home equity loans.

DML Mortgage »
Provides mortgage and finance services for Yonkers and all of New York.

Celtic Financial Group, LLC »
Real estate finance firm specializing in long-term, fixed-rate, and non-recourse mortgages on commercial and multifamily properties nationwide.

East Coast Capital Corp »
Provides residential mortgage financing for all of New York.

AJM Funding Corp. »
Providing loans for purchase and refinance in Baldwin.

Logistics Funding »
Mortgage company offers home financing products to the New York market.

Nations Financial »
A full service mortgage company offering mortgage services.

Garden City Mortgage »
Offering mortgages services.

Apple Bank Mortgage »
Mortgage banker offers mortgage financing programs on properties located in the New York Metropolitan area and Connecticut only.

Moneyline New York, LLC »
Providing mortgages services for purchase, refinance, and home equity loans.

Centennial Mortgage Corp »
Mortgage company offers residential mortgages to the New York market.

The Mortgage Advantage Corp. »
Provides residential mortgage financing for Huntington and all of New York.

Welcome Home Mortgage »
Provides residential mortgage financing for Pomona and all of New York.

Prim Company Mortgage »
Provides residential and commercial mortgages for Garden City South and all of New York.

First Priority Mortgage »
Licensed mortgage banker offers residential real estate financing to the New York market.

First Rate Funding »
Offers residential loans, refinancing and home equity loans. Includes programs, tips, property types served. Office locations in Albany and Saratoga Springs, NY.

First Choice Mortgage Corp. »
Provides residential mortgage financing for both New York and New Jersey.

Use a mortgage broker. A mortgage broker will show you mortgage products from different banks and mortgage providers. Pick a mortgage broker carefully. If the broker works directly for a company that offers financial products, make sure he shows you clearly why one of these products is better. Mortgage brokers also get a commission on their sales. Find out what the broker's services include and if he charges any fees. Many brokers do not charge fees beyond their commission. Also check the broker's credentials.

Calculate the financial benefit of refinancing in one, two, or three years. Does the benefit compare with your plans for staying in your home?

Closing costs can be expensive. If you plan on refinancing your home to save money, be sure to take into consideration how much the closing costs on the new loan will cost you.

It's better to follow the 2% Rule which suggests that you can enjoy the benefits of a home refinance if your mortgage refinance rate is 2% lower than that on your current loan. The interest savings will help you recoup the costs you've paid for the new loan provided you stay in the property for a certain period of time (break-even period). However, there are no-cost as well as low-cost refinance loans wherein the costs are included into the loan. But you can expect comparatively higher rates on such loans. Moreover, these loans are limited when the market is in a credit crunch.