What are the pros and cons of the new 40-year mortgage option?

… with rising mortgage interest rates its no surprise that buyers are looking for ways to reduce housing costs One … of a lower monthly payment because its a longterm loan however youll pay more in interest and equity builds slower … Bank  a Brick Underground sponsor As a firsttime homebuyer it would be good to look at traditional 30year …

By Alanna Schubach |July 5, 2022 - 9:35AM
With both NYC rents and mortgage rates rising, does it make more sense to buy or rent in NYC now?

… … There are many expenses that should factor into your calculations including mortgage payments and … Kory a broker at  Corcoran  Prewar coops on the Upper West or Upper East Side did not increase much in value so … costs you must factor in a number of other expenses the apartments purchase price your tax payments your monthly …

By Alanna Schubach |June 21, 2022 - 12:30PM
More NYC buyers can tap lower-cost mortgages with new Freddie and Fannie higher loan limits in 2022

… New York City buyers dont typically get to take advantage of the lower … Mae and Freddie Mac the governmentbacked entities that buy loans from banks are expected to announce a new … If 2021 was a good yearthen thats all you would have to show unlike the two years worth of statements that are a must …

By Jennifer White Karp |November 19, 2021 - 2:30PM
What are mortgage points and how do they lower your interest rate?

… the ways to lower the cost of borrowing is to buy mortgage pointsalso known as buying down the rate prepaid interest or discount points The … reduce their monthly payments every month Sklar explains Buying a point typically lowers the interest rate on your …

By Jennifer White Karp |July 15, 2021 - 4:00PM