Home purchase and home refinance in New York

Buying a home usually means taking out a mortgage. That means you borrow money to buy a home in New York, using that home as collateral for the loan.

The amount of mortgage you can afford depends on your income, the down payment, current New York mortgage rates, and the amortization period you choose.

You may be able to purchase a home with a down payment as small as 5 per cent. First-time home buyers may also be eligible to withdraw up to $20,000 tax-free to use as a down payment. The funds must be repaid within fifteen years. Lenders in New York can provide you with a preapproved mortgage that shows approximately what mortgage loan you can afford.

Owning a home in New York can be a significant first step in attaining financial independence. We can help you eliminate rent payments, build equity, and feel the personal satisfaction of calling a home your own.

With our Mortgage Rates Independent Mortgage Guarantee, you can have a pre-approved mortgage amount before you decide on the home you want. Your pre-approved mortgage provides you the buying power of a cash buyer.

How much house can you afford? Knowing how much you can borrow will help narrow the search for your new home. Independent Mortgage Loans can help you get pre-approved. Pre-approval means the we analyzes your current income, debt, assets, and credit history to decide what kind of mortgage payment you will be able to afford. We then give you a document stating your borrowing capability and whether your mortgage can be approved, pending the outcome of several tests and an appraisal.

Many recommend that you put down as much as you can for the down payment. Obviously, the more you put down, the less you will have to borrow.

Perhaps you require 100% financing in a single mortgage — something traditional lending institutions typically don’t provide. For customers with a stable credit history we can provide 100% financing. Perhaps you’re self-employed, contract or commission-based, and therefore don’t have a “regular” paycheque or lack the documents required by most financial institutions.

Regardless of your specific situation, if another lending institution has turned down your application for mortgage credit or simply cannot meet your needs, it's time to talk to us! We specialize in looking after those who don't fit the mold. We will listen to your story. We'll help you to select a mortgage you can live with. There are lots of options available that let you customize your mortgage to suit your financial goals and needs.

If you don't have the downpayment and would like to purchase now, we suggest that you fill our home purchase application to pre-qualify.

We have an almost endless variety of types of home purchase financing available. Consider us when you purchase your next home or refinance your current home. Finance with the people you trust. All fees disclosed up front. Nothing hidden. No surprises. You can apply to pre-qualify by filling our loan application. There's no fee to apply for pre-qualification.