Long Island Mortgage Broker Offering Purchase & Refinance Home Loan Solutions

VA Loans

Whether you're looking for a no money down popular mortgage such as VA loan in Long Island NY for military personal or a 30 year jumbo loan for higher loan amounts, we are here for you. To be qualified for VA loans you need to be veteran or in military service. Contact us today and our mortgage experts will assist you with these programs.

These days, affordable fixed rate loan or FHA low money down option can help you achieve your financial objectives.

The majority of our mortgage officers each have 20 to 30 years of banking experience. They are available to answer questions and simplify the mortgage process. We have the ability to "shop" the mortgage marketplace on behalf of our clients to assure the best mortgage program at the most attractive rate to fit our individual client’s needs. This process saves the client from having to "shop around" for their own mortgage. You'll be treated with the respect you deserve. Of course every product we offer comes with personal, one-to-one counseling.

What Makes a Mortgage?

A mortgage is a loan secured (collateralized) by real property. Every mortgage has a group of components all of which relate to the security of the property, acquisition of the loan funds, and repayment of the loan balance. How these components are combined and used determines the type of the mortgage loan.

Home Equity Lines of Credit

Offering maximum flexibility, (HELOC) Home Equity Lines of Credit can be used for virtually any purpose. You can consolidate higher interest rate loans and credit cards, pay tuition, make investments, pay wedding costs, cover medical bills or meet unexpected expenses. The application process is quick and easy.

If you are looking for a home loan on Long Island NY, you came to the right place as we specialize in first and second mortgages, debt consolidation plans, purchase loans, home equity loans, and refinancing alternatives.

Our dedication of service provides for an expedited response to personal financial needs. We provide a wide variety of loan products including competitive home equity and improvement loans.

1. For the purchase of a house, second mortgage and refinancing
2. Competitive rates, both fixed and variable
3. 15- and 30-year fixed terms, adjustable, jumbo available
4. Pre-qualification available

Bad Credit Loans

Dealing with imperfect credit? We can help you get back on the right track. Significantly lowers your payment to allow you to catch up on other debts and improve your credit. ARMs can get expensive after the 6 or 12-month introductory period. Some loans have pre-payment penalties. Provides protection against rate or payment increases. Interest rates are higher than ARM introductory rates or fixed rates. Not the best choice if you're anticipating refinancing to improve your credit.

Vacant Lot Financing

We can provide residential lot financing with easy and affordable repayment terms. Once you have completed your planning process, we can provide the construction financing as well.

Mortgage Programs

We offer a large line of home loans such as conventional fixed and adjustable rate, government FHA, VA, USDA, reverse mortgages, non-conforming jumbo, equity, improvement and home construction loans on Long Island NY throughout Suffolk and Nassau Counties including but not limited to cities of:

• Long Beach
• Bay Shore
• Garden City
• Northport
• Riverhead
• Westbury
• Great Neck
• Babylon
• Smithtown
• Patchogue
• Islip
• Mineola
• Freeport
• Ronkonkoma
• Massapequa Park
• Valley Stream
• Glen Cove
• Brookhaven
• Farmingdale
• Southold

FHA Loans

Government insured FHA loans on Long Island NY are popular option for first time home buyers as they could own home with low down payment. Contact our loan officer to learn more about Federal Housing Administration loans.

We see ourselves as mortgage brokers who do more than just make loans, we make loans that help mold and build the financial futures of our customers. Our approach reaches far beyond the mortgage as an isolated transaction. We look for ways to tailor our range of products to fit your current needs while taking you closer to your future dreams.

Loan Programs

Whether you are looking for a new house or seeking ways to make your business more efficient, our diverse loan programs will give you the solutions you seek. Our personal loan programs are listed below.

• FHA 203K Rehab Loans
• VA Loans Veterans Administration
• USDA Loans
• Conventional Loans
• Home Purchase and Refinance
• Home Improvement Loans
• High Balance and Jumbo Loans
• Reverse Mortgages
• First Time Home Buyer
• Bad Credit Programs
• FHA Streamline Refinancing Loans
• Fixed-rate and Adjustable-rate mortgages

Escrow

The process of holding an item of value by a third party until certain terms or conditions are met is called escrow. Within a real estate transaction, escrow generally refers to withholding full ownership of the property until a condition of purchase is met. Escrow also refers to the process of collecting taxes and insurance costs as part of the periodic payment related to the mortgage note.

Property is the combination of land and improvements at a specific location that can be valued together. Real property refers to property where one portion of the value is related to land.

Home Equity Loan

Your financial goals don't end at home ownership. With a home equity loan in Long Island NY or line of credit you can access the equity in your home so you can achieve your other goals. With equity loans, you can gain some room to grow. Contact us today for more information about equity loans.

Loan to Value or "LTV" is the ratio, expressed as a percentage, of the original loan balance to the appraised value of the securing property. Most mortgage lenders have specific guidelines regarding the maximum ratio that they will accept to secure the original loan balance.

Closing costs fall into two categories – prepaid and non-recurring. Pre-paid costs are charges that will continue over time and are related to the beneficial ownership of the property. An example would be state and city taxes or condo fees. Non-recurring costs are a one time charges relating to the acquisition of the property and/or the financing for the acquisition.

Down Payment

Is the portion of the purchase price that the borrower will pay in cash at the close of the purchase transaction. The down payment is in addition to the closing costs.

Homeowners Insurance
Insurance covering the improvements and contents associated with a specified parcel of land where a home is located. This insurance usually protects against loss resulting from physical damage or a threat to ownership represented by liability of the beneficial owner. Mortgage lenders require property to be insured to protect their security interest.

Appraisal
An appraisal is a written estimate of a property’s value, created on an analysis of comparable sales of similar property in neighborhood. Appraisals are conducted by specially trained and licensed inspectors.

Term is the amount of time specified to pay back the money borrowed. Deed is the legal document conveying the title of a property during a sale or transfer of ownership.

Debt Consolidation

Many have experienced financial difficulty with overdue bills and rising expenses. While you may not have perfect credit, mortgage brokers are available to assist you in consolidating all your high interest rate debts. Utilizing the equity in your house, mortgage professionals will advise you of how to lower your monthly payments and reduce the term of your loan. Provides the security of a fixed payment relatively low interest and time to repair your credit. May also allow for higher loan amount qualification.

Payment is the periodic payment specified in the note for repayment of the loan balance. Some loans have payment of a fixed amount while others have payments that may adjust over time.

Long Island Mortgage Refinancing

Among the numerous reasons for mortgage refinancing on Long Island NY, include the desire to reduce your current interest rate, and to consolidate existing debt obligations. We have the expertise and experience to compare existing market rates and to recommend a number of mortgage financing options.

Rate

Interest is the cost of use of the money represented by the loan balance. The rate charged is the factor that determines the periodic payment. Some loans have rates that are fixed over the life of the loan while others may adjust subject to specific situation specified in the loan contract.

Amortization

Is the scheduled process of dividing a sequence of fixed periodic payments into a portion related to the interest due on the original amount borrowed and repayment of the loan principal. Over the term of an amortized loan the amount of each payment related to interest will decline and the portion allocated to principal repayment will increase. During the early term of an amortized loan, most of the payment is allocated to interest. Not all mortgages are amortized.

The Note is the legal contract that specifies the term, rate charged, and repayment of the loan. The note also specifies the legal remedies available in case of default and defines the beneficial interest of ownership for the borrower.

Taxes

Property is generally taxed by the city, county, and state where the property is located. These must be paid in full on the due date or will become a lien on the property. The pro-rated portion of the taxes paid for the year is one of the prepaid closing costs.

Title

This is the legal document providing the evidence of the borrower’s right to ownership of the property. Ownership and title are valid when duly and properly recorded in the records of the county where the property is located.

Title Insurance

This is an insurance policy that protects the owner and lender against possible financial loss related to imperfect ownership interest. All mortgage lenders will require a title insurance policy.

This information can be mailed or faxed to us as instructed on the bottom of the application page. You will also find useful content under our services section in our web site that may help you navigate through and better understand the mortgage process. We look forward to becoming your financing partner.

About Long Island Mortgage Broker

When it comes to your home, nobody understands your needs better than your neighbors. We provide expertise and a variety of loan programs to meet your needs. We get to know you, your needs and your financial situation and find a solution that's right for you. Call us at (833) 266-7887 for complete details on these programs and to have all your questions on mortgage financing answered.

Our mortgage company is a premier mortgage broker with over 19 years of extensive industry experience providing home loans and refinance on Long Island NY including FHA, VA, USDA, home improvement and construction loans to qualified borrowers.