Home Sellers and Home Buyers on the North Fork of Long Island…Read This
August 23rd, 2008 category: Buyers, Sellers
For those interested in purchasing a home on the North Fork of Long Island, but unsure about eligibility for a loan, a great place to begin is at the New York State Mortgage Agency.
As prices come down, reaching levels of attainability for more buyers, awareness of state sponsored mortgage loan programs bear watching.
For example: For VA purchasers, up to $5000.00 is available toward closing cost assistance .
That’s a nice incentive for VA qualified purchasers.
If you are selling a home on the North Fork of Long Island, and have a prospective buyer that might fall into the parameters of any NYSMA program, understand it to develop a selling strategy.
The website www.nyhomes.org provides time frames for buyer qualification. Knowing how long a program takes might offer a bit more clarity for a move in date. And a move out date. Having a good feel for a closing date works for all involved.
If you are buying a home on the North Fork of Long Island, awareness of loan programs provides an edge, and possibly more buying power.
For example: For a first time buyer seeking a “fix up” property, check out the Remodel New York term sheet.
The site provides all income level requirements, purchase price requirements, and parameters, as well as all lenders that are participants.
As many eye a fix up property as an opportunity, a loan program like the above might be interesting.
Options Realty. Your Source for a North Fork Buyers Agent. Riverhead, Aquebogue, Baiting Hollow, Calverton, Jamesport, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, and Orient, New York.
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