New York Mortgage Rates

Renting a place in New York City can easily cost you around $2000 to $3000 a month.

Meanwhile, the average monthly payment for 15-year fixed-rate mortgage on a $165,000 home is $1,158.60. That’s a major difference from the hefty rent prices placed on busy districts in Manhattan and Albany.

So why not get a house instead?

Although you still need to pay for bills and maintenance on your own, the property will be yours after your successfully paid off the loan.

That’s why the demand on New York homes is hot nowadays. Aside from the rise in rent cost, there is also the low interest rates. If you buy a home with today’s rates, you could save thousands on interest payments, an advantage that may not be available for many shoppers in the next couple of years.

Where dreams are made

New York is a dream place for many. Unfortunately, it often remains so for most. Part of the blame goes to the tight competition which puts too much pressure on the market, causing home prices to skyrocket.

This makes homeownership in New York extra challenging for homebuyers. However, it is NOT impossible.

With the right people to help you out, you have a good chance of getting that key to your new New York home sooner than later.

We at MortgageSum are especially dedicated to helping home buyers like you get through the mortgage acquisition process.

Please feel free to navigate through our site’s pages for tools and resources you can use to make informed decisions about your loan.

If you are decided, you can get started here to get the best rates in New York and to compare lenders in your area.