New York Mortgage Rates
and Mortgage Refinancing Rates through
Lenders will compete for your New York Mortgage and Mortgage Refinancing
business and contact you within 24 hours
out the short form below and click
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will contact you shortly. The Mortgage Rates request form can be
used for any New York Mortgages-residential mortgages or commercial mortgage
information remains confidential.
York City metro suggests
using the form (left) to get the best loan
and lowest New York mortgage rates,
and New York Refinancing rates. New York Mortgages are competitive
when you get 4 NY mortgage rates.
Your NY Mortgage
Rates Request will be sent to 4 competing New York Mortgage
Lenders or select a New York Mortgage Broker below:
- New York Mortgages Terms Defined -
Mortgage and Refinancing Terms to Know
Adjustible Rate Mortgage (ARM):
A mortgage in which the interest rate is
adjusted periodically based on a pre-selected index. AKA the renegotiable
rate mortgage, the variable rate mortgage or the Canadian rollover
Amortization: Means loan payment by
equal periodic payment calculated to pay off the debt at the end of a
fixed period, including accrued interest on the outstanding balance.
Assignment: The transfer of a
mortgage from one person to another.
Balloon Mortgage: A loan which is amortized for a longer period than
the term of the loan. Usually this refers to a thirty-year amortization
and a five year term. At the end of the term of the loan, the remaining
outstanding principal on the loan is due. This final payment is known as a
Bridge Loan: A second trust that is
collateralized by the borrower's present home allowing the proceeds to be
used to close on a new house before the present home is sold.
Closing: The meeting between the buyer,
seller and lender or their agents where the property and funds legally
change hands, also called settlement.
Closing Costs: Closing costs usually
include an origination fee, discount points, appraisal fee, title search
and insurance, survey, taxes, deed recording fee, credit report charge and
other costs assessed at settlement. The cost of closing usually are about
3 percent to 6 percent of the mortgage amount.
Fixed Rate Mortgage: The mortgage
interest rate will remain the same on these mortgages throughout the term
of the mortgage for the original borrower.
Refinance: A new mortgage on a
property already owned. Often to replace existing loans on the property.
Second Mortgage: A mortgage made
subsequent to another mortgage and subordinate to the first one.
Usury: Interest charged in excess of
the legal rate established by law.
4 newyorkcitymetro Endorsed mortgage companies will help with
your New York Mortgages questions, New York Mortgage Rates, NY Mortgage
Refinancing, New York Mortgage Refinancing rates, NY Construction Mortgages/loans,
etc. All lenders are licensed Mortgage Lenders in New York
Be sure to shop around for the Best New York Mortgage
Rates. Mortgage Rates vary by lender and ask about other closing costs
associated with your NY Mortgages-both Commercial Mortgages and Residential
If you can check into bi-weekly mortgage payments, they
will save you $ on your NY mortgages in the long run