 At
New York Mortgage Loan, we appreciate that
finding a home and choosing a 1st mortgage is not only one of the most important
decisions of your life, but it can also be one of the most confusing.
Our trained Purchase Loan (First Mortgage) Specialists will walk you through the
process and provide you with any and all important information you need to
make the best decisions for yourself and your family. |
Your
first step should be to obtain a written pre-approval from us. This not
only assists you with setting a budget, but also lets the Seller know you are
serious. One of our purchase loan specialists will be happy to discuss with you,
at your convenience, and prepare a written pre-approval for you.
Secondly, we work closely with your Realtor to insure every aspect of the buying
process is covered. We also have a network of prestigious Realtors to refer based
on the location you are looking in. Let one of our purchase loan specialists
personally answer any one of your questions. |  |
| ..WE
UNDERSTAND YOUR CONCERNS | At
New York Mortgage Loan, we understand that
home financing is as much a part of the financial planning equation as saving
and investing. After all, your home is one of the most important investments you
will make to secure your future. New York Mortgage Loan
offers residential first mortgages for the purchase of primary residences, second
homes and investment homes. Additionally, New York Mortgage
Loan offer the lowest interest rates on all our purchase loans. You
will find that our rates are often considerably below those available through
other financial institutions.
| WE
OFFER 10 DIFFERENT PROGRAMS TO CHOOSE FROM. |
Fully amortized -
payment amount never changes.
Up
to 95% financing available.
Convenient
rate lock in.
5 and
7-year balloon payment option on 30-year purchase loans.
Terms
from 15 to 30 years.
No-points
and point options.
Automatic
monthly payments.
Income
tax savings.
In most
cases, interest on residential lending products is tax deductible. |  |
| ..ADJUSTABLE
RATE MORTGAGES |
Terms
from 10 to 30 years.
Low introductory rate.
1-yr 3-yr 5-yr 7-yr 10-yr ARMs plus a variety of
other options.
Automatic payment convenience.
Annual and lifetime rate caps.
Conversion
terms available to change to fixed rate.
Automatic
withdrawal of monthly payments.
Income tax
savings.
In most cases, interest on residential
lending products is tax deductible. |  |
So
what are you waiting for? Apply
now to instantly pre-qualify and let us do the rest! Don't
worry about which program is best for you right now, just take the first step
and fill out our simple and free online
application.
Let one of the New York Mortgage Loan experienced
and knowledgeable purchase loan specialists see what they can do for you. In
less than an hour you can receive pre-approval for the perfect new home loan!
| OUR
PURCHASE LOAN (FIRST MORTGAGE) PROGRAMS |
| ..FIXED
RATE MORTGAGE LOANS |
 | Fixed
Rate Conventional Loans - 10 to 30 years. Conventional or standard purchase loans
that require a down payment from your own funds. This is the type of purchase
loan to choose if you know you'll be in the home for a long time and want to know
what your payments will be for many years to come. Your principal and interest
payments will be the same for the entire term. The only portions of your monthly
payment that may change are escrowed items, such as property taxes and homeowner's
insurance, and if applicable, flood insurance and Private First Mortgage Insurance.
|
| ..ADJUSTABLE
RATE MORTGAGE (ARM) LOANS |
Adjustable Rate Purchase loans have the same down payment guidelines as conventional
purchase loans, but Adjustable Rate Purchase loans have a rate that is set for
one, three, five or seven years. After the initial period, the rate can move up
or down no more than 2% per year to reflect market conditions. There is also a
maximum lifetime cap. Rate changes will affect your monthly payments. Adjustable
Rate Purchase loan rates are normally a little lower than conventional rates initially.
Adjustable Rate Purchase Loans are a good choice if you are interested in a lower
initial monthly payment, think you'll be in the home only for a couple years,
or are willing to wait and see whether purchase loan rates go down within several
years so you can refinance into a fixed rate loan at that time.
| For
a limited time only New York Mortgage Loan
is offering a special "3/1 ARM" purchase loan. This has an attractive rate for
the first three years, and the rate will adjust each year thereafter. Caps are
1% annually and 5% lifetime, so you don't have to worry about a payment shock
in three years with this purchase loan. No private first mortgage insurance is
required, so you have a significantly lower monthly payment. |  |
For a limited time only New York Mortgage Loan
is also offering a special "5/1 ARM" purchase loan. This has an attractive rate
for the first twenty years, and the rate will adjust each year thereafter. Caps
are 1% annually and 5% lifetime, so you don't have to worry about a payment shock
in twenty years with this purchase loan. No private first mortgage insurance is
required, so you have a significantly lower monthly payment.
 | For
a limited time only New York Mortgage Loan
is also offering a special "7/1 ARM" purchase loan. This has an attractive rate
for the first seven years, and the rate will adjust each year thereafter. Caps
are 1% annually and 5% lifetime, so you don't have to worry about a payment shock
in seven years with this purchase loan. No private first mortgage insurance is
required, so you have a significantly lower monthly payment. |
| ..FIRST
TIME HOMEBUYER'S PROGRAM |
This NEW first mortgage program lets members finance up to 100% of the value of
their first home, plus 3% of the closing costs. It is a good plan for those members
just starting out, who have qualifying credit, and can afford the monthly payments,
but may not have enough money for a down payment. You can borrow up to $150,000
(up to $154,500 with closing costs) with this purchase loan and may choose a fixed-rate
purchase loan (for a limited time) or a "3/1 ARM."
This type of purchase loan is often called an "ARM alternative." It offers the
advantage of starting out with a lower rate that adjusts to a fixed rate over
a specified period of time.
Balloon
purchase loans are yet another purchase loan option if you are not expecting to
stay in your home for more than five to seven years. You can lock your rate for
five or seven years at a rate normally lower than conventional fixed-rate purchase
loans, but usually a little higher than a one, three or five year ARM. The entire
purchase loan is due at the end of the five or seven year term but may be extended
if you'd like, provided all guidelines are met. The final interest rate is determined
based on the market at that time.
|  |
| ...SO
WHAT ARE YOU WAITING FOR? |
 | Again,
so what are you waiting for? Apply
now to instantly pre-qualify and let us do the rest! Don't
worry about which program is best for you right now, just take the first step
and fill out our simple and free online
application. |
Let
one of the New York Mortgage Loan experienced
and knowledgeable purchase loan specialists see what they can do for you. In
less than an hour you can receive pre-approval for the perfect new home loan!
GMK Consultants
62 School Street
Glen Cove, NY 11542
Toll Free: 1-800-704-1053
516-676-9252 |
