Real Estate New York

This website provides information on the different fields and levels of real estate as well as the different terms used in the real estate business. Both residential and commercial real estate topics are covered.

How to Lock in a Mortgage Rate New York

OK. You've spent weeks, maybe months shopping around for a mortgage--filling out forms on the internet, waiting on hold on the phone, dropping off paperwork at the local office--but you've finally found a great interest rate with low upfront costs. Then, right before the closing, you get an unwelcome surprise: the interest rate has gone up, or you'll have to pay thousands more in points. How did that happen? While there's no shortage of unscrupulous lenders who try to pull the old bait-and-switch, there are also legitimate reasons why the terms of a mortgage may change from the time you get your quote to the time you're actually ready to buy. You can avoid the surprises, however, with a rate lock-in, also called a rate lock or rate commitment. Here's how.

How to Choose Between Renting an Apartment and Owning a Home New York

You?ve probably heard this before: if you?re making a monthly rent payment, as opposed to a monthly mortgage payment, you?re essentially throwing your money away. Well, as common as the saying is, it?s not necessarily true ? in many situations, it?s actually much more advantageous to rent an apartment rather than own a home. Here?s why:

How to Hire an Appraiser New York

Many people spend years collecting precious objects or works of art, yet have no idea of their collection's current value. An independent appraisal is important in determining the amount of insurance coverage needed. The cost of adding coverage to your homeowners' policy is often minimal.

Mortgage Insurance New York

Mortgage insurance, also called PMI, is the insurance homeowners pay when they do not have an adequate down payment for their homes. This insurance affords some protection for the lender and goes away as the mortgagee pays down some of the loan.

How to Choose an Apartment Complex New York

Living in an apartment complex can have several benefits over other alternatives, such as renting a home, a section of someone else's home, or an apartment in a multi-family home. However, if you don't choose a complex wisely, you could forgo any benefits and end up trapped in an undesirable situation.

How to Choose a Mortgage Broker New York

Buying a house can be a daunting task, and for a first time borrower you might not know all the ins and outs that are involved in taking out a home loan. A mortgage broker can help - they are the professionals that match your needs with a home loan from a selection of lenders. But it's important to choose the right broker - one who is knowledgeable, accredited, and covers a wide range of lenders.

How to Find a Property Appraiser New York

When it comes to finding a real estate appraiser, many homeowners don't know what to look for. This article describes five things to look for in a property appraiser.

How to Move to a New Apartment New York

Moving can be a fun and exciting adventure. But it can also be lots of work--not to mention very stressful. Here are some suggestions that might make your transition a little easier.

How to Find a Good Real Estate Agent New York

Steps to take when looking for a real estate agent.

Green Mortgages New York

Financing has often been the missing piece in green home sales. Nationally, Fannie Mae offers an energy-efficient mortgage, which allows a lender to use the estimated monthly utility savings to increase an applicant's buying power and qualify them for a higher-priced home in New York.