Long Island, NY Mortgage Broker: Let's Find Your Perfect Loan for Buying, Renovating or Refinancing Your Home

Purchase a Home

Congratulations on your decision to buy a house! With affordable interest rates, flexible Long Island NY home loan programs, and fast, courteous service, our trusty loan officers can help you achieve more. It's always best to do the important things the "Smart Way".

As a homeowner you may benefit from tax deductions, lasting advantages of building equity vs. paying rent, and have appreciation of your house's value. Whether you are first time home buyer in Patchogue, Smithtown or Islip and have found the perfect house, or just started shopping across Hempstead or Brookhaven, we can help you with the financing process from start to finish.

We can even help with more challenging credit problems like bankruptcy and foreclosure because our flexible programs allow us to look at you as an individual.

We are focused on knowing each customer's need and working together to satisfy their specific requirements with quality service and individual attention.

Jumbo Loans

Often a borrower will utilize interest only options for a loan of this size. We recommend on purchases of this size that the borrower always utilizes the option for a second mortgage. This will eliminate the need for Private Mortgage Insurance and keep the payments lower. Any loan amount higher than $417,000 is classified as a jumbo loan.

Home Equity Loan

The home equity will increase as you continue to repay the loan, as improvements are made to increase the value of the house, or as the land or neighborhood increases in value. The home equity loan on Long Island NY could be the perfect solution for your needs. Since you own a portion of the house, you have the right to use the equity built up and a second mortgage can be established to access that equity without selling the house.

We believe that individual home ownership is the key to personal financial security and the best pathway to financial independence for most people. We promote fair lending practices and the development of innovative programs enabling homeownership.

Construction Loans

Counstruction loan allows you to build and buy your house with one loan, saving you money on closing costs. We'll provide the disbursements as you build and when construction is complete, the loan rolls to permanent financing.

3/1 ARM Adjustable Rate Loan

This is an adjustable rate mortgage that is stable for the first 3 years and may adjust to a higher rate each year thereafter for the remainder of the term with pre-set limits and caps.

FHA 203k Loans

Section 203(b) is the centerpiece of FHA single-family insurance program, offering mortgage financing to many homeowners nationwide. The FHA loan on Long Island NY offers a viable financing options to low and moderate income families by lowering the down payment requirements. In addition, many of the closing costs (including prepaid taxes and insurance) can be subsidized by the seller, making the total cash contributions as little as 3%. Some of the important features include low down payment for FHA loan. In contrast to conventional financing, which require 5-10% down payments plus closing costs, single-family mortgages insured by FHA loan under section 203(b) only require a 3% investment from the borrower. Of this 3%, any or all of it can come from the borrower, gift from a blood relative, 401(k) disbursement, or charitable organizations.

First Time Home Buyer Loan

Stop putting money into your landlord's wallet. We will creatively arrange a financing program for first time home buyer on Long Island that will put you in your own home and turn your money into an asset for you. If you are thinking about home financing, talk to our mortgage consultant.

With all the programs available today such as fixed-rate and adjustable-rate (ARM) mortgages, FHA (Federal Housing Authority), VA (Veterans Affairs) loans and Jumbo mortgage, home financing can be a confusing and frustrating process. Our goal is to simplify the mortgage process for you making it an easy and pleasant experience. Buying a house does not have to be confusing or intimidating.

The type of home loan program that is best for you whether you're in communities of Northport, Bay Shore or North Hempstead NY depends on your specific needs, plans, and financial history. Let us help you.

Second Mortgage

A second mortgage works just like the first, except it is for less money. Just as the first mortgage is the amount of the house owned by the bank through a "lien" against the property (a lien is a legal claim to property and its value), a second mortgage is borrowing more money from the value of the house with a second lien to financially protect the second lender. The second mortgage is repaid monthly over a set period of time to the second lender, just like the first mortgage.

Fixed Rate Loan

The most common type utilized in New York state is fixed rate mortgage. The interest rate does not change over the life of the loan and neither does the payment. As an amortized loan, during the early years of the term a larger percentage of the monthly payment will go towards paying the interest on the loan.

VA Loan

The rules regarding eligibility are complicated, but if you actively served in the U.S. Armed Forces, or in some cases if you have served in the Reserves or National Guard, you may be eligible for VA financing. While VA loan on Long Island NY may require a little extra paperwork, we see this program as just another great way to serve many deserving home purchasers. With VA loan you can borrow the entire purchase price of your home.

5/1 ARM Adjustable Rate Loan

Typically these loans are considered prime loans and offer a reduced interest rate when compared to the standard 30 year fixed rate. These types of loans may be best suited for consumers that want to take advantage of a lower rate who may not live in a house for more than a period of 3-5 years.

Fixed 30 year Mortgages

These mortgages can be done with or without income proof and asset proof provided by the client, depending on the client’s creditworthiness and willingness to pay higher interest rates.

Reduced Paperwork

We are trying to simplify the mortgage process for our customers. We offer home loans and mortgage refinancing options whether you're in Freeport, Babylon or Huntington NY that allow you to provide little or no paperwork documenting your income and assets – good news for the self-employed and business owners.

Financial History

Based on the information in the report, a number is created that summarizes your creditworthiness and how much of a risk you could be to a lender. Usually a number between 300 and 900, the score is generated from the information in the report. The lower the score, the greater the risk.

Adjustable Rate Mortgages (ARM)

These mortgages are very popular with individuals who are seeking the lowest initial interest rate available with the understanding that their rate can rise in the future. The typical ARM starts with the lowest available interest rate, usually significantly lower than a comparable fixed 15 or 30-year mortgage. Adjustment period - This is the amount of time between adjustments of your interest rate. The typical terms offered are six months, one year, three years and five years.

Long Island Mortgage Refinancing

We offer competitive rates and refinancing mortgage on Long Island NY could be the smartest financial move you ever make. A new low-interest home loan like fixed and adjustable-rate (ARM) mortgages, FHA (Federal Housing Authority) loan, VA (Veterans Affairs) loans or Home Affordable Refinance Program (HARP) can cut your monthly payments by hundreds of dollars. That means lots of extra cash for you to spend any way you like, month after month after month.

How can we save you so much? Simple. We're not a bank. That means we don't have to play by their rules. We have access to low cost funds that are far more flexible than what you'll find at any bank.

Refinancing mortgage can unlock your home's equity value to work for you. This money can reduce current debt, establish retirement investment or education funds, provide funds for improvements and upgrades to your house, or just put some cash in your pocket for whatever you need. It's quick and it's easy.

Why throw away all that extra money each month? Why give it to someone else? You've worked hard for your money and simply by refinancing your home loan, you could keep more of it where it should be - right in your own wallet. Refinancing is a popular option for many homeowners whether you're in Garden City, Riverhead or Ouster Bay NY; however a second mortgage may serve you better.

Best of all, there is no cost or obligation to ask about or to apply. And there are rarely any out-of-pocket closing costs.

Home Equity Line of Credit (HELOC)

Similar to a home equity loan, HELOC can be used for a specific purpose or just for cash, however it is reusable and can be used at any time. Like being approved for a card, a HELOC allows you to use your equity whenever and however you wish.

Debt Consolidation

Everyone’s debt is different and that’s why our mortgage experts work with each customer to learn your situation and review your debt to find the solution that serves you best. Homeowners have opportunities available that they may not be aware of, many of which are tax-deductible. Call or apply now to learn how refinancing your first mortgage or taking a second can relieve your debt worries.

About Long Island Mortgage Broker

We will look beyond your credit score and take your entire financial situation into account. We will work with you to get the program that is right for you! Call (833) 844-0141 or fill out quote request to learn more about available home financing options.

We are the premier Long Island mortgage broker offering a wide range of loan programs including fixed and adjustable, conventional, FHA, VA and reverse mortgages to homeowners and first time homebuyers across New York State.