Category Archives: westchester ny

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

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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

Loans, Refi, Interest Only Loans

Homes were only on the market for 21 days on average!

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Existing Home Sales were up .7% in December with a record low inventory from November. That’s a 1.9 month supply which is also a record low.  Homes were only on the market for 21 days on average!

The Median home price was $309,800, up 12.9%. Although sales on the low end were down 15%, homes above $1M were up 90% which dragged the median home price higher.

First Time Home Buyers dropped slightly from 32% to 31% even with the stiff competition for homes on the lower end. Cash buyers decreased from 20% to 19% but still remains at a high level and so the only way to beat a cash buyer is to offer more.

Did you know you don’t need 20% down to buy a home?  Allot has changed in mortgage lending these days so don’t go it alone.  Give us a call and we can inform you of many options that you may not be aware of.

Looking for Low Rates? You Found Them! Close in as Little as 23 Days!

15 Year Fixed
2.25% APR 2.46%

30 Year Fixed
2.75% APR 2.87%

Restrictions Apply Learn more

Mortgage rates can move lower and you need to be ready.

Equally important is what many of our happy clients are saying about us!

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

Next you should tell a friend! Share this information with someone you may think needs help with their mortgage.

ny ct and fl mortgage rates

Historical Mortgage Rates in NY, CT and FL! Make Your Next Move Now.

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Historical Mortgage Rates in New York, Connecticut and Florida. So how do I get the best mortgage rate and make my move now?

In any situation to get the best mortgage interest rate you need to shop around.

Comparing quotes for home loans means you will have success in finding real savings.  Keep in mind this will take up an enormous amount of time educating yourself about mortgage programs and many many resources.

Instead you should contact a reputable and experienced Mortgage Broker.  That’s all they do, everyday, compare rates, programs and money-saving ways.

Call North Atlantic Mortgage and leave your biggest asset to an experience professional.

North Atlantic Mortgage Corp. 178 Trinity Pass Pound Ridge, NY 10576 1-877-794-5363

Call 1-877-794-LEND (5363)

Mortgage Rates Plummet to Lowest Levels in 50 Years!

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Mortgage Rates Plummet to Lowest Levels in 50 Years!

1.875%  2.10% APR – 15 Year Fixed

2.125%  2.27% APR – 30 Year Fixed

Restrictions apply
Contact me to save big on refinancing your home.
Call: John Sauro 914-764-3261
Your trusted 30 year local advisor offering Free Consultation.

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

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

________________________________________________________________________________

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

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

The Fed Rate Cut & Home Loan Rates

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The Fed cut rates this week by .50% due to the concerns that the Carona Virus will damage the current vibrant economy.  Contrary to the media hype, historically mortgage rates can actually rise and they did the day after the rate cut.

That’s because mortgage rates are not directly affected by a fed rate cut.

Rather mortgage rates are directly affected by the prices of mortgage bonds, known as the Mortgage Backed Securities Market. Specifically the Fannie mae and Freddie mac bonds. Not the 10 year treasury, as many would have you believe. The 10 year Treasury affects the commercial mortgage backed securities market used for commercial real estate loans, not home loans. Glad I could clear that up.

Mortgage rates dropped because of the stock market turmoil.  When the stock market drops, investors move their stock investments into the bond market this is known as “Flight to Quality”.

Flight to quality is the action of investors moving their capital away from riskier investments to safer ones. Uncertainty in the financial or international markets usually causes this herd-like shift.

Therefore the Price of the bond rises and inversely the rates tied to those bonds drops.

Below is a chart of the Mortgage backed Securities Market showing the rise in bond prices from January 16th to march 6th. An increase of 133 basis points, which results in approximately 50% reduction in mortgage rates.

NY mortgage rates, ny refinance, ny home buyers, ny home purchase, Cash out mortgage,

Once the fears and media hype about the Carona virus subsides, as did with the Swine Flu H1N1 Pandemic in 2009, the financial markets should recover. Especially with the current strong economy and its anybody’s guess when that will happen. 

So I don’t recommend trying to time the bottom on mortgage rates.

Rates are historically very low. many today were not around in 1992, when mortgage rates first fell from their highs of 17% to below 10%.  Yes that’s true, look it up.  Also rates tend to move up faster than they go down, as banks are not eager to pass the saving on to their customers.

My advice; Connect with a experienced Mortgage Professional, typically found not in the banks, but in the mortgage Broker/Lender community.

These professionals specialize only in lending and have access to many different loan programs. I’m going to toot my own horn here.

I have been in the Lending profession since 1991 and seen it all. Many of clients have done multiple loans with me over the years. Take a moment to see what my clients have to say.

Contact me for a Complimentary Consultation and see how much you can save. I’m an analyst, not a salesman.  If I can’t save you money on your refinance or home loan purchase no harm, no foul.

Apply

or

Call 877-794-5363 (Lend)

Close in as Little as 23 Days!

CONTACT

John Sauro

 

 

Sources: Written by John Sauro North Atlantic Mortgage, Chart MBS Pro.

 

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