The State of New York Mortgage Agency (SONYMA) offers five mortgage programs to assist first-time homebuyers with the purchase of a home in New York State.
Our five mortgage programs feature competitive interest rates, low down payment requirements, flexible underwriting guidelines, no prepayment penalties and down payment assistance. Each of these features are designed to make your home purchase more affordable. All SONYMA loans are financed through the sale of tax exempt bonds. Mortgage Programs: Homes for Veterans ProgramA program specifically designed for military veterans. Allows a qualified veteran … (0 comments)
A housing recovery may be under way, but there’s an obstacle that appears to be slowing down the rebound: the unusually high number of buyers who walk away from their contracts.
An average of nearly 18% of signed contracts on existing home sales were canceled during the three months ending July, according to data released this month by Capital Economics, an independent research firm. That’s the highest all year and the most since May 2010, when that figure reached 23%; in the five years before the housing slump started, the … (0 comments)
Selling your home as the end of the year approaches is actually a good idea, but you need to have the right strategy in place. The holidays will be here before you know it and it’s vital that you put your plan of action into play now, to ensure that you get the best results for yourself 60 and 90 days into the future as you work through the process of your move. The fourth quarter of the year can cause some sellers to worry if their … (1 comments)
bronx: Next Housing Moves Are Being Considered by Baby Boomers
- 09/12/12 12:05 AM
Next Housing Moves Are Being Considered by Baby Boomers Many older baby boomers have been putting off moving for years now, due to weak housing markets, price declines and losses in their retirement accounts. But as markets are beginning to recover, some may be unearthing their buried plans to downsize, move closer to their children or relocate to a warmer climate. Whether they ultimately make a move has a lot to do with their finances and where they live.
“I think people are sick of waiting,” said Jennifer Darby Metzger with ERA Justin Realty, in New Jersey. Even if conditions … (0 comments)
bronx: Bronx Housing Market Climbs As U.S. Housing Market is on the Rise!
- 09/06/12 11:37 PM
Bronx Housing Market Climbs As U.S. Housing Market is on the Rise! The U.S. economy is rounding the Labor Day turn and it appears that the housing market it finally climbing back up, after many attempts and failures.
It is nothing of mystery, just the facts of supply and demand. For the first time in years, the supply of both new and used homes available for sale has dropped below demand.
With the basis of supply and demand, as supply diminishes and demand remains...rising prices are sure to follow. The housing market is affected as any … (0 comments)
The form for the celebration of Labor Day was outlined in the first proposal of the holiday: A street parade to exhibit to the public "the strength and esprit de corps of the trade and labor organizations", followed by a festival for the workers and their families. This became the pattern for Labor Day celebrations. Speeches by prominent men and women were introduced later, as more emphasis was placed upon the civil significance of the holiday. Still later, by a resolution of the American Federation of Labor … (0 comments)
NEW YORK (MarketWatch) — Average mortgage rates in the U.S. were mostly higher over the past week as fixed rates rose for a third week in a row, after a long streak of declines, according to mortgage-finance company Freddie Mac. Freddie Mac FMCC -2.48% Chief Economist Frank Nothaft noted the rates edged up following economic indicators that point towards low inflation but gradually stronger economic activity.
For the week ended Thursday, the 30-year fixed-rate mortgage averaged 3.62%, compared with 3.59% the previous week and 4.15% a year earlier. Rates on … (0 comments)
Mahalo, Hawaii for 60-plus great years. Sixty-three years ago, tomorrow, Hawaii was added as the 50th state to the United States of America. This happened 172 years and 4 months after the first state, Delaware, was added to the Union. Oddly enough, the first 11 states were made official in one year, yet it took 172 for Hawaii to crack the list. In case you want to find out what year our state became an official member of the United States, we’ve included a link to the Wikipedia page with the information on the history of … (1 comments)
1)The month of August signals that the end of summer will soon be here. For many, it’s the last chance to get out of “dodge” and spend time as a family before the hustle and bustle of the school year, clubs, sports and regular events hits the radar.
It’s a common misconception that selling in August and the beginning of September is not wise and that you’d be better served to wait until mid-September, or later, until the beginning of the following … (1 comments)
bronx: Attention Bronx Home Sellers: Why you do repairs before you sell.
- 07/20/12 01:32 AM
Attention Bronx Home Sellers: Why you do repairs before you sell. If you’re selling your home (or at least considering it) you’ll want to Read This. Feel free to pass it along to any friends or family members who are also thinking of selling. In today’s market, the competition is as fierce as ever to get buyers to look at your home over your competition’s. Moreover, it’s tougher than ever to get them to make an offer without your home looking spiffy…especially if you want top dollar.
Here, we’re giving you some solid input on why you need to … (3 comments)
It’s July and that means even in the coolest climates on earth, someone is going to need to turn on an air conditioner to keep the heat from making them miserable. Unfortunately, with the need to stay cool also come higher electric and gas bills, syphoning money from your bank account that you could be using to have fun during the month of July and the rest of the summer.
The good news is that if you have a strategy and a little ingenuity, you can keep your home … (1 comments)
bronx: 10 Tips for Family Safety in the Summer
- 07/04/12 11:00 PM
10 Tips for Family Safety in the Summer Summer is the time for outdoor cookouts, pool parties and backyard play dates – not a time for bandaging scrapes, nursing burns – or worse. Learn these important summer safety tips and make sure everyone in your family knows them by heart too. That way, it will be a summer to remember, for all the right reasons. Pool Safety Supervise constantly: Good supervision means you are able to scan the pool area every 20 seconds and be able to reach the pool in 10 seconds. Put multiple safety barriers between children and … (2 comments)
Learn the difference between Renting vs. Buying with proven and tested models, as well as current market data.
FREE 1st Time Home Buyer Seminar June 30, 2012 11am-1pm 760 White Plains Rd. Scarsdale, NY 10583 For Reservations Call: 914-902-3252 or 914-902-3253 or visit http://www.RealEstateWorkShop.info Hosted by: Kavita Shah Liscensed Real Estate Salesperson Lead Buyer Specialist Rummy Dhanoa Real Estate Experts www.FreeNYHomeSearch.com … (0 comments)
bronx: Bronx Homeowner Selling Tips for Summertime Showings
- 06/13/12 03:31 AM
As we enter the increasingly hotter days of late spring and early summer, your prospective home buyers will be looking closely at patios, decks, landscaping, air conditioning, and in some cases, pools. So if your home is on the market, you'll want to make sure your house is in top order and summer-friendly.
While a large number of homes sell during March, April and May, June and the summer months run a close second. In fact, June is traditionally a busy month because many families want to get moved during their children's … (0 comments)
Money-Saving Ideas 5 Seems like all the green talk today is about buying things: buy Energy Star, buy solar panels, buy tankless water heaters, buy new sustainable building products. Buy, buy, buy. What’s a budget-minded home owner to do? Follow these five easy, cheap green nuggets of advice, of course. 1. Resist the temptation to buy.
With good preparation, most things are easier. That works in mortgages too! Today, I want to give you some ideas that can make your mortgage experience less painful.
Income Items: 1. Gather your documents. Today, many people will have to produce 2 years’ complete tax returns, including W2′s, 1099′s, K1′s, and all the schedules, as well as a month’s worth of pay stubs.
2. Be prepared to explain them. Deductions in your returns and your pay stubs may impact the income your lender will … (0 comments)
I learned a long time ago that “ common sense is NOT common practice“. This is especially the case during the emotional time that surrounds buying a home, when people tend to do some non-commonsensical things. Here are a few that I’ve seen over the years that have delayed (and even killed) deals, especially in The Bronx County:
1. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Small, explainable deposits are fine, but getting $10,000 from your … (1 comments)
bronx: Does It May Sense for Bronx Residents to Pay Full Commission in This Market?
- 03/07/12 05:31 AM
Does It May Sense for Bronx Residents to Pay Full Commission in This Market? Should Westchester Home Owners Pay Full Commission In Today's Market? Does it makes sense to pay a full commission to your real estate agent in today’s market? Sellers, buyers and even agents are debating what should be charged to assist a consumer in completing a real estate transaction. Forget what the actual amount of the commission is. The bigger question is whether you should pay a ‘full fee’ when hiring a real estate expert to guide you through the complexities of today’s rapidly changing housing environment. … (0 comments)
bronx: HUD Is Increasing Cost Effective April 2012
- 03/01/12 02:39 AM
HUD Is Increasing Cost Effective April 2012 This is a BIG DEAL for The NY Real Estate Market In a move to increase their financial standing (and to get the FHA back into required capital requirements), on Monday, HUD announced their anticipated increases in the premiums they charge borrowers. Simply stated, the cost of borrowing is going up. FHA loans, by design, are more liberal in their underwriting guidelines than most conventional loan products (in terms of credit, income ratios, required investment from the borrower, and maximum loan amount). HUD is not a lender. Rather, it is a federally-insured insurance … (0 comments)
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