Compare New York Refinance Rates & Home Loans

For most families, the first step to home ownership in NY is to arrange for financing. Once you are pre-approved for a mortgage and feel comfortable with payment options, you can settle on a price range. Failing to arrange for financing as quickly as possible can delay negotiations as sellers in NY are much more likely to accept an offer if the potential buyer already has financing arranged.

Mortgage loans in NY vary greatly based on features such as the size of the loan, term, interest rate, method of paying off the loan, and other characteristics. Home buyers in NY can obtain a mortgage for the purchase of a home or construction. Home mortgages in NY are available from banks and other financial institutions, either directly or indirectly through intermediaries. Many aspects of mortgages are regulated in NY: directly through legal requirements and indirectly through regulation of financial markets.

Most mortgages for homes in NY are either fixed rate mortgages or adjustable rate mortgages (ARM). As the name implies, the interest rate for fixed rate mortgages do not change over time. Monthly payment may vary somewhat though due to changes in property taxes and insurance. Buyers in NY may also opt for an adjustable rate mortgage where the interest rate changes over time based on the market.