Take Advantage of the Current Market

Low Rates & a Buyer's Market

We are already midway through fall, and the local NYC housing markets are softening and seeming to stay soft, opening up new opportunities for buyers.

The New York Times recently reported, "After years of softness at the top, it is finally becoming a buyers’ market for people who intend to actually live and work in New York." That's great news for buyers finding a property, but what about for buyers getting a mortgage?

Have lenders become "far more cautious in their lending", like the NY Times has also reported?

I would disagree. True, all the mortgages I can provide require full documentation of a buyer's profile, but the core requirements of that profile have not changed a lot.

For example, debt to income ratios used to go up to the mid-40%'s, and they still do. The best credit scores get the most competitive offers, but less than perfect credit scores still have plenty of options. 10% down payments still happen all the time, including the occasional 5% down.

Given historically low rates and a buyer's market, how do you take full advantage?

Get clear on two points;

1. Consider your home, what do you want and where you want to be, which only you can determine.

2. Determine your options, in terms of how much you can afford, which only a professional like myself can help you determine.

I've been helping people figure this stuff out for over a decade and I would be happy to help you.

Contact me today for answers to your questions.

Best, Jim