Category Archives: Mortgage & Refinance Programs

As a mortgage broker located in northern westchester ny, North Atlantic Mortgage offers a wide variety of home loan, mortgage and refinancing programs including fixed rate mortgages, adjustable rate mortgages, conforming rate home mortgages, non-conforming mortgages, jumbo mortgages. Because we are a whole sale mortgage broker, we are able to a competitive mortgage programs to our clients that other lending institutions cannot. Here you can learn more about the mortgage and refinancing programs offered at North Atlantic Mortgage’s offices located in Pound Ridge NY

NY Mortgage, NY Refinance, NY Home Loan, NY Real Estate

20 YEAR HIGH – Homebuilder Confidence

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Call 877-794-5363 (Lend)

Close in as Little as 23 Days!

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John Sauro, President

Homebuilder confidence jumps to highest level in 20 years

KEY POINTS
  • Builder confidence in the newly built, single-family home market jumped 5 points in December to 76, the highest reading since June 1999.
  • Current sales conditions rose 7 points to 84, sales expectations in the next six months rose 1 point to 79 and buyer traffic increased 4 points to 58.
  • Regionally, on a three-month moving average, builder sentiment in the Northeast fell 2 points to 61, increased 5 points in the Midwest to 63, moved 1 point higher in the South to 76 and increased 3 points in the West to 84.

A stronger economy and a severe housing shortage have the nation’s homebuilders feeling better than they have in two decades.

Builder confidence in the newly built, single-family home market jumped 5 points in December to 76, the highest reading since June 1999, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Anything above 50 is considered positive.

NY Mortgage, NY Refinance, NY Home Loan, NY Real Estate

November’s reading was also revised higher by 1 point. The index stood at 56 last December. At the worst of the housing crash, in 2009, builder sentiment hit a low of just 8.

“Builders are continuing to see the housing rebound that began in the spring, supported by a low supply of existing homes, low mortgage rates and a strong labor market,” said NAHB Chairman Greg Ugalde, a homebuilder and developer from Torrington, Conn.

Builders’ confidence is clearly based on what they’re seeing in their showrooms. Of the index’s three components, current sales conditions rose 7 points to 84, sales expectations in the next six months rose 1 point to 79 and buyer traffic increased 4 points to 58.

All, however, is not perfect in the homebuilding market. Builders could likely be doing even better if they didn’t face so many headwinds.

“While we are seeing near-term positive market conditions with a 50-year low for the unemployment rate and increased wage growth, we are still underbuilding due to supply-side constraints like labor and land availability,” said NAHB chief economist Robert Dietz. “Higher development costs are hurting affordability and dampening more robust construction growth.”

Regionally, on a three-month moving average, builder sentiment in the Northeast fell 2 points to 61, increased 5 points in the Midwest to 63, gained a point in the South to 76 and increased 3 points in the West to 84.

Source: CNBC

Three Myths When it Comes to Refinancing

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When it comes to refinancing your home, there are many supposed truths out there leading to inaccuracies on money saving mortgage options.

  1. You must have more than 2 points to lower your rate and make it worth your while.
    In fact, no you don’t. Many factors come into play, not just the interest rate. Many can save money with as little as a 1/2% reduction in rate.
  2. You need 20% or more down payment.
    NOT TRUE! Many programs exist with as little as 3% down.
  3. The market is unpredictable so I’ll wait.
    Rates move unexpectedly all the time but there are many advantages to position yourself to strike a great rate through a plan. Set up a plan, It’s free with no obligation. When your plan calls for you to lock your rate, we will have you in the right position to make your move.

Contact us to set up a plan now!

Need a fast rate quote?  CLICK HERE

Close in as Little as 26 Days!

Call 1-877-794-5363 (Lend)

Here’s the info on 26 days to close a loan with no hidden fees

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Close in as Little as 26 Days!

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

30 Year Fixed Rate

3.625%  *APR 3.641%

15 Year Fixed Rate

3.125% ** APR 3.159%

With our custom designed home loans you can expect close communication and responsiveness.  We design loans to you specific needs allowing you to maximize your financial future.

Contact us at 877-794 5363 (Lend) or, at 914-764 3261 Evenings and Weekends. We want you to be our next 5 star review.

 

Need Mortgage Rate Quote FAST?

Complete this form and we will send you rates along with details on how to secure your mortgage.

✔ Yes, I want some rate information

Describe as much information as you can, such as: the amount of mortgage needed, home value, location, etc…

No Fees are a good thing….

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As a homeowner it’s always a good idea to assess options that may provide you with greater savings.

                                       

FOR A LIMITED TIME!

No Application Fee

No Bank Fees

Fixed rates as low as

3.625% APR 3.650%

 

Please accept my invitation for a free consultation.

In 10 minutes, we can determine if you may benefit from making changes to your mortgage. I’m here to help with information, resources, support and more than 25 years of experience to meet your unique home loan needs.

Sincerely,

 

John Sauro, President

North Atlantic Mortgage Corp

Phone: 877-794 5363 (LEND)

Direct Line: 914-764-3261

johnsauro@gmail.com

www.northatlanticmortgage.com

 

 

 

 

 

 

 

Note: There is no application fee. ”No Bank Fees” means no Bank Underwriting fee, Tax service fee or flood insurance certificate. Appraisal, bank attorney and title fees are not included in this offer and are the borrower’s responsibility. The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $75,000 down on a $375,000 purchase price), a $300,000 15 year conforming loan amount, $395.00 in finance charges, 30 days prepaid interest, no points, 30 day rate lock, priced on 6/11/19. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing.

North Atlantic Mortgage Corp. 178 Trinity Pass Rd. Pound Ridge NY 10576 NMLS #1375, NYS Department of Financial Services A004210 Registered Mortgage Broker Loans Arranged Through Third Party Providers.

Switch to a 15 Year Fixed Rate 2.990% / APR 3.172%

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15 Year Fixed Rates Can Mean Big Savings for you!

Pay less in interest over the life of the loan.

Pay off your mortgage sooner

Consolidate debt or take cash

Save 85,005 Per Month

$333,440

30 Year Fixed

3.75% (3.794 APR)

=$926 Per Month

$248,435

15 Year Fixed

2.990% (3.072 APR)

=$1,375 Per Month

Now is the time to switch to a a 15 year fixed rate. The savings are huge!

Compared to a 30 year fixed rate of a $200,000 loan,
a 15 year fixed rate loan could save you as much as $85,005.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com

 

 

Note: The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,480 in finance charges, 30 days prepaid interest, 1.50 points, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. NMLS #1375, NYS Department of Financial Services A004210 Registerd Mortgage Broker Loans Arranged Through Third Party Providers.

Lower Mortgage Payments by 23% with Exceptional Loan Requiring No Traditional Income Verification

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A little known home loan is now available through mortgage specialists to homeowners and buyers with payments about 23% lower than conventional mortgages.  Coupling this dramatic cut with paying off high interest rate credit card debt or equity loans is called “Equity Repositioning” and is saving homeowners thousands of dollars.

There are numerous stories of self-employed individuals consolidating 18%-21% credit card debt they have had to use for business reasons and need to re-stabilize their financial picture.  Many wonder why they haven’t been informed about this unique loan.  One reason is this loan isn’t as profitable to lenders as other loans, so they’re not easy to find.

Here’s what one person had to say: “I was looking for a creative type of financing package not available at most other banks or mortgage companies.  North Atlantic financed my home by using a very unique type of loan that caters to Entrepreneurs like myself.  Now, I’m not an easy person to please and I’ve dealt with other banks and mortgage companies in the past and none of them can compare to North Atlantics expert consultation, competence and professional service.

My compliments and appreciation to the staff of North Atlantic Mortgage.”

William M.

You could actually benefit right now by refinancing, credit cards, high end equity lines and most importantly get a great loan with no traditional income verification.  If you are a self-employed business owner, doctor, real estate investor or a high income individual, there are many other savvy “secrets” and various loan options that you probably aren’t aware exist.

Simply call 1-877-794-5363 to speak with a consultant.  You’ll be pleasantly surprised with the information you receive.

A Compiled List of Top Mortgage Companies

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If you are looking for a list of top mortgage companies, we can provide you with this list. The best mortgage lender isn’t the same for everyone so we have compiled a list of best mortgage lenders for first time home buyers, those looking for their second home and home owners looking to refinance their New York mortgage.  Whether you are buying a new home or refinancing we have the best mortgage lender for you.

I WOULD LIKE A LIST

Refinance Again? Why?

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Because the 2018 Fannie/Freddie loan limits are in and that may mean big savings for many.

The new loan limits are $484,350 for Conforming loans and $726,525 for Hi Balance loans.

Let’s say the last time you took out a loan, the balance was above the old $453,100 (2017 conforming limit) or just above $636,150 (the old 2017 hi baance limit).  You would have paid a substantially higher rate then if you were below those limits.  Therfore, due to the new higher loan limits, you may be able to lower your interest rate and monthly payments.

Find out what this means for you.

Call us at 877-794 5363

 We’ll do a quick analysis to see how much you can save on your mortgage.

WASHINGTON, D.C. (November 28, 2018) – Mortgage applications increased 5.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 23, 2018. This week’s results include an adjustment for the Thanksgiving holiday.

“After several weeks of market volatility, 30-year fixed mortgage rates decreased four basis points to 5.12 percent last week. Homebuyers responded, with purchase applications 1.7 percent higher than a year ago, and after adjusting for the Thanksgiving holiday, they increased almost 9 percent from the previous week,” said Mike Fratantoni, MBA’s Chief Economist. “The rise in purchase activity was led by conventional purchase applications, which surged almost 12 percent, while government purchases were essentially unchanged over the week. This also pushed the average loan size for purchase applications higher, which likely meant there were fewer first-time homebuyers in the market last week.”

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) decreased to 5.12 percent from 5.16 percent, with points decreasing to 0.46 from 0.48 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $453,100) remained unchanged at 4.88 percent, with points increasing to 0.31 from 0.29 (including the origination fee) for 80 percent LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 5.11 percent from 5.08 percent, with points remaining unchanged at 0.63 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages remained unchanged at 4.53 percent, with points remaining unchanged at 0.51 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs increased to 4.29 percent from 4.24 percent, with points decreasing to 0.42 from 0.51 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

Refinancing or Buying-

Home Financing doesn’t have to be Stressful.
We monitor real time interest rates, so our clients are able to access some of the lowest rates available.
With rates still historically low, poised to move higher, many would be home buyers are moving quickly to finance their piece of the American Dream.

Existing home owners have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.
At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me it’s a great deal easier with our help and expertise. The average time to close a loan is about 30 days. We understand the guidelines and know what different lenders can do, which increases your opportunities for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation:
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com

Sources: MBA, Fannie Mae

Complete this form for a QUICK QUOTE


    Westchester NY Mortgage Broker

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    Westchester Mortgage Corp. offers lending options in the towns of: Amawalk, Ardsley, Ardsley On Hudson, Armonk, Baldwin Place, Bedford, Bedford Hills, Briarcliff Manor, Bronxville, Buchanan, Chappaqua, Cortlandt Manor, Crompond, Cross River, Croton Falls, Croton On Hudson, Dobbs Ferry, Eastchester, Elmsford, Goldens Bridge, Granite Springs, Harrison, Hartsdale, Hastings On Hudson, Hawthorne, Irvington, Jefferson Valley, Katonah, Larchmont, Lincolndale, Mamaroneck, Maryknoll, Millwood, Mohegan Lake, Montrose, Mount Kisco, Mount Vernon, New Rochelle, North Salem, Ossining, Peekskill, Pelham, Pleasantville, Port Chester, Pound Ridge, Purchase, Purdys, Rye, Scarsdale, Shenorock, Shrub Oak, Somers, South Salem, Tarrytown, Thornwood, Tuckahoe, Valhalla, Verplanck, Waccabuc, West Harrison, White Plains, Yonkers, Yorktown Heights

    MORTGAGE TIP OF THE DAY

    Zillow said your home was worth what?

    Always seek out a professional home appraisal and be careful about falling in love with home value estimates you see online because many are far above market value... CONT READING

    Westchester County Mortgage Broker

    Our Westchester County Mortgage Broker will guide you every step of the way.  Helping Westchester County Residents with their home mortgage rate shopping. Weather you are a first time home buyer in Chappaqua, a homeowner in New Rochelle or looking for a lower rate to refinance your mortgage in Portchester NY. If you have a primary residence or second home and are in the market to purchase or refinance in the Westchester County NY, North Atlantic Mortgage Corp is here to be your lending partner.

    We offer expert advice, fast approvals and on time-closings.

    We monitor interest rates from various lenders and place you with the lowest rate offered.  We watch the market to stay informed of Westchester County trends and mortgage lender offers on Conventional and Home Improvement loans, including fixed, adjustable rate (ARMs) and Home Equity Lines of Credit. At North Atlantic Mortgage Corp our main focus is to figure out what suits your specific financing needs.

    Get started today! Call 1-877-794-LEND (5363)

     

    QUICK QUOTE

    No Obligation. Free Expert Advice.







      Our 30 Year Fixed Rate is .36% Lower than the National Average.

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      4.45% Rate 4.50% APR – 30 Yr. Fixed Rate

      Call 877-794-5363 for more info.

      WASHINGTON, D.C. (August 22, 2018) – Mortgage applications increased 4.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 17, 2018.

      The Market Composite Index, a measure of mortgage loan application volume, increased 4.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased three percent compared with the previous week.

      The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) remained unchanged from 4.81 percent, with points decreasing to 0.42 from 0.43 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

      The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $453,100) decreased to 4.68 percent from 4.73 percent, with points decreasing to 0.28 from 0.29 (including the origination fee) for 80 percent LTV loans.

      The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.82 percent from 4.77 percent, with points increasing to 0.69 from 0.68 (including the origination fee) for 80 percent LTV loans.

      The average contract interest rate for 15-year fixed-rate mortgages decreased to 4.25 percent from 4.27 percent, with points decreasing to 0.47 from 0.52 (including the origination fee) for 80 percent LTV loans.

      The average contract interest rate for 5/1 ARMs decreased to 4.00 percent from 4.06 percent, with points increasing to 0.52 from 0.48 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

      The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

      Interest Only Mortgages Are Back

      The Interest Only Express Program

      30 Year Fixed, 5/1, 7/1, 10/1 Arm’s

      Lower Monthly Payments.

      Great for self-employed individuals and those with commission or bonus income benefit from lower monthly payments and can add to principal when its more advantageous for them to do so.

      Those planning to live in the home for a short time prefer to have a lower monthly payment vs. adding to principal.

      • Loan Amounts to $3M
      • 90% Financing for Purchase or Rate & Term Refinance
      • Cash out to $1M in Hand
      • Derogatory Credit History Considered

      Find out how much you can save on your monthly payments.

       

      Jumbo Reverse Mortgages  Coming Soon

      We will soon be rolling out a Jumbo Reverse Mortgage program that allows for loan amounts to $4,000,000.

      Currently the maximum reverse mortgage loan amount allowed by FHA is$679,650.

      A nice option to have for those 62 years of age or older.

      For a Free Consultation:
      Call or Email:
      John Sauro
      Ph: 877-794-5363
      Email: JohnSauro@Gmail.com

       

      US weekly jobless claims total 210,000, vs 215,000 expected

      The number of Americans filing for unemployment benefits fell last week, a sign the labor market was holding firm despite tensions between the United States and its trading partners that have spawned restrictions on global commerce.

      Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 210,000 for the week ended Aug. 18, the Labor Department said on Thursday.

      It was the third straight week of declines for claims, which have dropped so low that economists have scrambled for explanations. In July, claims fell to their lowest level since 1969 even though the workforce is much larger than in prior decades.

      Economists polled by Reuters ahead of Thursday’s report had forecast claims rising to 215,000 in the latest week.

      The signs of strength in the U.S. labor market have been a key reason behind the Federal Reserve’s ongoing campaign to raise interest rates.

      Minutes of the U.S. central bank’s last policy meeting, published on Wednesday, showed officials discussed raising rates soon to counter excessive economic strength, although policymakers also examined how global trade disputes could batter businesses and households.

       

       

       

       

       

       

       Sources: Reuters, CNBC, MBA
      The APR of 4.50% is based on a maximum conforming loan amount of $453,100 with a fixed rate of 4.45% for 30 years with a .336% discount fee.