Category Archives: Mortgage Info

Information about mortgages and everything you need to ask before obtaining a mortgage with a bank in the New York area. North Atlantic Mortgage has been helping Long Island, Nassau County, Suffolk County, New York City, Westchester, Upstate and all New Yorkers help with finding the best mortgage program and securing locking the lowest rates available. If your asking yourself, where can I compare the best an most popular mortgage programs and rates, visit or call North Atlantic Mortgage Corp, located in New York, NY

Buy your dream home

Your Dream Home is Waiting

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Ready to Get the Ball Rolling on Your Dream Home?

Buying a new home is exciting so for first-time buyers, here are some ways to help you get into your dream home fast.

  • Learn about First Home Buyer Programs. There are some useful first-time home buyer loans and programs that might benefit you and score you some big savings.
  • Keep all your accounts in good standing. Lenders want to feel confident that you can be relied upon to pay them back as promised, increasing your chances of approval.
  • Know your finances and obtain a pre-approval. Get your mortgage ready to go so when you find your dream home there will be no delay in closing, giving the seller the confidence to accept your offer.
  • Speak with a personal loan officer to learn about affordable home loans. Know how much you qualify for and the down payment needed to secure a mortgage.

The best way to get the ball rolling on your dream home is to talk with a mortgage expert today!

John Sauro, Loan Officer
Phone: 1-877-794-5363
Direct Line 914-764 3261
Email: john@northatlanticmortgage.com

EXCLUSIVE REPORTING - Be the first to know!

Get notifications of breaking mortgage information sent right to your email-box.


Apartment Building Investing

Is it Smart to Invest in Apartment Buildings?

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It is no secret that real estate investing provides an alternative to some of the most lucrative and stable returns.

When most people start to dabble in these alternative investment options, they begin with single-family homes or go straight to looking at commercial spaces. However, apartment buildings are a great option for investors.

Get started in learning about apartment building investing and gaining maximum cash flow.

One key element of knowledge needed is to analyze your current skills, experience and resources to examine the ways you can get involved in apartment building investing.

You will need to know how you will secure a commercial loan to finance the purchase. Loan sources include commercial banks, seller financing, and private loans. Apartment building loans range from a term of several years up to 25 years.

Importantly, know the buildings gross rent multiple (GRM). The more rent the building commands, the more valuable it should be.  Look at the rents and use them to get at an approximation of its value.

The best way to learn if apartment building investing is right for you is to talk with a apartment building mortgage expert today!

John Sauro, Commercial Loan Officer
North Atlantic - Commercial

Call 877-794-5363 or send a message
Direct Line: 914-764-3261
Email: john@northatlanticmortgage.com

Specializing in Acquisition & Financing of Net Lease Properties & 1031 Exchanges.
Handling Commercial Real Estate Mortgages Nationwide. From California to New York, we have a full complement of expert resources throughout the country which ensures for a accurate, fast and easy process.

 

3 things to know

3 Things to Know Before You Refinance

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Mortgage rates are not the only factor when deciding to refinance your mortgage.  Each individuals different circumstances are consequential and these 3 things are what you should know before you decide to move forward.

  • The first piece of information is to know how much equity is in your home. Yes, homeowners with at least 20% equity will have an easier time qualifying for a new loan but there are programs available that will work for others with lower equity.
  • The second is to know what your credit score is. Some consumers may be surprised that even with very good credit, they will not always qualify for the lowest interest rates. Typically, lenders want to see a credit score of 720 or higher in order to qualify for the lowest mortgage interest rates. You may pay higher if your scores are lower but still be able to obtain a great low rate loan.
  • Thirdly is to know your debt-to-income ratio. Look into terms, interest rates, and refinancing costs and expenses like whether you’ll have to pay private mortgage insurance to determine whether moving forward on a loan will serve your needs.

The best way to find out if refinancing is right for you is to talk with a mortgage expert today!

 

John Sauro, Loan Officer
Phone: 1-877-794-5363
Direct Line: 914-764-3261
Email: john@northatlanticmortgage.com

EXCLUSIVE REPORTING - Be the first to know!

Get notifications of breaking mortgage information sent to your email-box.


 

Mortgage rate info

Home Sales Show Strength

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Lowest Rates in 50 Years

2.205% APR 15 Year Fixed

2.938% APR 30 Year Fixed

Home Purchases are showing quite a bit of strength with inventory levels down 12% from last year. Refinances were up 7% last week and are now down 5% on a year over year basis, also being compared to some high figures from last year. The refinance share of applications increased slightly to 66% of total volume. Interest rates were nearly the same as they were this time last year.

The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices rose 2.2% in June and 18.6% year over year, which is a record and up almost 2% from the annual price gains seen in the previous report and is a record high

Bottom line – We are still seeing strong levels of demand purchases, which has accelerated over the last two weeks.

The Fed will of course leave rates unchanged, but the focus will be on tapering clues. We believe the Fed will leave most of their statement unchanged and will want to wait until the November 3 Meeting before announcing tapering. They will likely want to wait to see how back to school goes as well as the impact of the delta variant. Additionally, the August Jobs Report was weak and inflation moved modestly lower. As we have mentioned, we think that inflation will start to rise again as the previous reading was removing some high figures from last year, skewing the year over year figures. In the coming months the inflation reports will be replacing lower figures.

*The Annual Percentage Rate is based on a single family owner occupied purchase or rate & term home loan with a maximum loan amount of $548,250, a 2.00 % interest rate, $506.00 in points, a 30 day rate lock, Fixed Rate for 15 Years with 180 monthly payments of $3,529.00, a 80% Loan to Value, and a minimum credit score of 700.**The Annual Percentage Rate is based on a single family owner occupied purchase or rate & term refinance home loan with a maximum loan, amount of 548,250 a 2.875% interest rate, $2,151 in points, 30day rate lock, Fixed Rate for 30 Years with 360 monthly payments of $2,275 a 80% Loan to Value, and a minimum credit score of 700 . **** The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. The rates quoted are for home purchase or Rate & Term Refinance loans. Refinance cash out loans may have a higher rate. The rates may change or not be available at commitment or closing or may be subject to product restrictions. Offer subject to credit approval. Rates advertised are as of Sept 13, 2021.  Rates are subject to change without notice. 178 Trinity Pass, Pound Ridge NY 10576. CT Mortgage Broker CT Department of Finance. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER NMLS #1375 & 42481. Registered Mortgage Broker NYS Department of Finance, This Website is Not Authorized by the NYDFS.  NY Clients please call 877-794 5363 as no NY applications can be taken from this site. Registered Mortgage Broker Florida Office of Financial Regulation. Loans arranged through third party providers. Verify our licensing information at www.nmlsconsumeraccess.org

what todays mortgage rates

Todays Mortgage Rates

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Mortgage Rates Plummet to
Lowest Levels in 50 Years!

 2.379%APR
15 Year Fixed

3.06% APR
30 Year Fixed

Restrictions apply

Need expert advice on a new loan?
Contact me to save big on refinancing your home.
Call: John Sauro 914-764-3261
john@northatlanticmortgage.com

Stephanie S. saved more than $2,100 per month
on her mortgage and she closed in 23 days. REALLY!

Purchase Home Loans – Debt Consolidation – Reverse Mortgage – Home Buyer Loans

Restrictions Apply *The Annual Percentage Rate is based on a single family owner occupied purchase or rate & term home loan with a maximum loan amount of $548,250 2.125% interest rate, with discount points of $2,474.00 for a 30 day rate lock, Fixed Rate for 15 Years with 180 monthly payments of $3,559.68, a 80% Loan to Value, and a minimum credit score of 740.**The Annual Percentage Rate is based on a single family owner occupied purchase or rate & term refinance home loan with a maximum loan amount of 548,250 a 2.875% interest rate, discount points of $2052.00, 30 day rate lock, Fixed Rate for 30 Years with 360 monthly payments of $2,274.65, a 80% Loan to Value, and a minimum credit score of 740 . **** The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. The rates quoted are for home purchase or Rate & Term Refinance loans. Refinance cash out loans may have a higher rate. The rates may change or not be available at commitment or closing or may be subject to product restrictions. Offer subject to credit approval. Rates advertised are as of June 3rd, 2021.  Rates are subject to change without notice. 178 Trinity Pass, Pound Ridge NY 10576. CT Mortgage Broker CT Department of Finance. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER NMLS #1375 & 42481. Registered Mortgage Broker NYS Department of Finance, This Website is Not Authorized by the NYDFS.  NY Clients please call 877-794 5363 as no NY applications can be taken from this site. Registered Mortgage Broker Florida Office of Financial Regulation. Loans arranged through third party providers.
Verify our licensing information at www.nmlsconsumeraccess.org

1.875% Mortgage Rate

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Mortgage Rates Awaiting Direction

We are recommending locking into mortgage rates, as our charts show that mortgage rates could move higher, after the bond market failed to break above the 25 & 50 day moving average and have broke below their lows set on Wednesday.

The next floor of support, which is likely to be tested, is another 10bp beneath present levels at 102.766. Support will likely be tested before Bonds start to move higher again.
Position Locking

                                                         Mortgage Bond Chart Sept. 18 2020

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15 Year Fixed Rate 1.875%

*APR 2.17%

30 Year Fixed Rate 2.50%

**APR 2.66%

Restrictions Apply

Close in as Little as 23 Days!

No Application Fee, No Lock in Fee, No Commitment Fee, No Hidden Fees

Maximize your financial future with our custom designed home loans. You can expect close communication and responsiveness.

Click for Mortgage Rate Video Update

Get a Rate Quote FAST?

Contact us at 877-794-5363 (Lend) 

or Click here for a Quote 

_______________________________________________________________________________

John Sauro

Phone: 1-877-794-5363

Direct Line 914-764 3261

Email: johnsauro@gmail.com

www.northatlanticmortgage.com

Home Prices Are Up

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The Case-Shiller Home Price Index, showed that nationally there was a 4.3% annual gain in June, which was unchanged from the gain we saw in May. The 20-city Index rose 3.5% year over year, down from 3.6% in the previous report.

Regionally, price gains in Phoenix, Seattle and Tampa continued to be the strongest in the nation. Phoenix posted a 9% year-over-year price increase, followed by Seattle with a 6.5% increase and Tampa with a 5.9% increase. Price gains were smallest in Chicago, New York and San Francisco.

Rates as Low as

1.875% /APR 2.154%
15 Year Fixed

2.50% /2.544% APR
30 Year Fixed

Learn More

Call

877-794 Lend (5363)

Restrictions Apply

The FHFA (Federal Housing Finance Agency) released their House Price Index, which measures home price appreciation on single-family homes with conforming loan amounts. Home prices rose 0.9% in June and are up 5.7% year over year, which is a big improvement from the 4.9% in the previous report.

refinance mortgage home loans NY CT FL

New Home Sales, which measures signed contracts on new homes, were up 14% in July, which
was much stronger than the small gain expected. Sales are now up 36% year over year. The
median new home price increased 7.2% year over year to $330,600…but this is not
appreciation. It means that half the homes sold above and below that figure, meaning that more higher priced homes sold. Don’t let the media fool you and make you believe that people are getting priced out of homes and they are going up too fast.

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Source: MBS Hwy

Loan Application Rush Before Income Changes

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Many rush to get their loan application in before their income changes.

With the sudden dramatic drop in rates and paychecks taking a hit, it is advised to quickly submit your loan request.  It costs nothing, no commitment necessary and if you choose not to go ahead with it there is no adversary effects on your financial situation.

If you don’t make a move now, qualifying for that great rate may not happen if your income shows a decline.

APPLY NOW!

or

Call 877-794-5363 (Lend)

Close in as Little as 23 Days!

Local NY Advisor:
John Sauro
(914) 764-3261
johnsauro@gmail.com

Emergency Fed Rate Cut Sunday Night

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U.S. stock-index futures fell sharply Sunday night following the Federal Reserve’s emergency decision to slash interest rates nearly to zero and buy $700 billion in Treasurys and mortgage-backed securities in an effort to quell financial market turmoil sparked by the global coronavirus pandemic.

The benchmark federal fund rate is now at a range of 0 to 0.25 percent, down from a range of 1 to 1.25 percent. The cut essentially brings the nation’s interest rate to zero — something that President Trump has repeatedly pressed for over the past year.

“The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals,” the Fed said in its Sunday evening statement.

The Fed also said that it will buy at least $500 billion in Treasury securities and $200 billion in mortgage-backed securities over the coming months, a program known as “quantitative easing.”

This may or may not be good for mortgage rates. Contrary to popular belief, historically Fed Rate Curts result in Mortgage rates rising.

Weather ot not the Fed buying $500 billion in Treasury Securities and $200 billion in Mortgage Backed Securities brings Mortgage Rates lower is to be seen. There are many other factors that are in play, such as convesity buying, oil and heavy institutional borrowing on banks.

Stay tuned for another wild ride in the markets.

You can contact John Sauro for more information and consultation.

Apply

or

Call 877-794-5363 (Lend)

CONTACT

John Sauro

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Source: John Sauro President North Atlantic Mortgage Corp. & Fox News

Mortgage Information and questions

Be Prepared When Shopping For A Mortgage

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Owning a home requires you to make the most important decisions of your life. With outstanding debt and uncertainty in the real estate market, how do you know your mortgage is efficient.
The more you know about mortgages, the better prepared you’ll be.
The most important tip I can give you, when entering this journey, is to ask advice from a top mortgage broker.
Questions such as:
• What type of a loan can I qualify for?
• How much money will I need to put down?
• Should I choose a Bank or Broker?
• What do I need to submit to start the process?
Take advantage of the resources available on the internet such as this handy FREE E-book on Conventional Loans or this FREE E-book for Future Home Buyers.
We can help you start the process. Simply ask us the questions you have so we can help you find the mortgage that properly fits your needs.

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