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Otisville, NY Mortgage Refinance in New York

We make it easy to get the lowest mortgage refinance interest rate in Otisville, NY.

Our loan specialists can customize a loan that is perfect for your needs. In no time at all, Otisville, NY residents can be on the way to a lower interest rate, a lower monthly payment, or switching from an adjustable rate mortgage to a fixed rate mortgage.

When Should I Refinance?

The best time to refinance is when interest rates in Otisville, New York drop below the rate of your current mortgage.  With a lower interest rate, you'll save money on your mortgage payment every month.  Be sure to read our article titled Reasons to Refinance Now.

Turn Your Adjustable Rate into a Fixed Rate

With adjustable rates on the rise Otisville, NY residents can benefit greatly from refinancing your home for a low fixed rate.  These benefits include a lower monthly mortgage payment, and the security of knowing your mortgage payment won't increase.

Cash-Out Refinancing

Using the equity in your home, you can refinance your mortgage for a higher amount than your current principal balance and receive the extra funds as cash.  You can use this money however you would like, including, remodeling your home, paying off high-interest rate credit cards, paying off student loans, or consolidating all your debt.  How much cash out you can receive by refinancing depends largely upon the principal balance remaining on your mortgage and the amount of equity in your home.

Eliminate PMI

Private Mortgage Insurance is usually required if your downpayment on your home was less than 20 percent.  If your home equity has increased since your purchase, you may have enough equity to elimate that PMI payment by refinancing your mortgage.

Save Thousands in Interest

When you refinance your home you can decide to switch your mortgage to a shorter term, such as 10, 15, or 20 years.  Depending on how much lower the refinance rate is, you will likely pay more per month for this shorter term home loan.  However, in the long-term you are saving thousands in interest.  And because more of your monthly mortgage payment goes towards the principal, your home equity will increase much quicker.

Mortgage Refinance Calculators

Mortgage Payment Calculator
Refinance Savings Calculator
Refinance APR Calculator
Refinance Points Calculator 

Refinance Articles

Reasons to Refinance Now
Beat the Subprime Mortgage Crisis 
Return to bad credit mortgage refinance in the state of NY

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Otisville, New York News
Fire ravages house in Otisville

At this hour, volunteer firefighters from several local companies are battling a house fire that broke out at about 7 p.m. at 34 Mount Hope Ave.


ABCs of Gardening: Cut-your-own Christmas trees

Q. I am interested in cutting my own Christmas tree this year. What do I need to know? Where can I go to do this locally? - Barry from Otisville.


Missing elderly woman found driving in Port Jervis

An 88-year-old woman who was missing for almost 12 hours Monday was found driving in Port Jervis by a benevolent man, the woman's family said.


Search to begin anew in Bloomingburg for missing Brooklyn woman

Volunteers from Sullivan County's Wildland Search and Rescue team are being called at this hour to begin searching anew in the Bloomingburg area for a missing Brooklyn woman.


Government Buys Spire Photovoltaic Module Production Facility

The U.S. Federal Prison company, Unicor , purchased from Spire a complete photovoltaic module factory for about $54 million.


Furnace malfunction brings multi-department response

Fire officials responded to a furnace malfunction on Monday morning that filled a house with smoke.


Winning Mega Millions ticket bought in Otisville

Someone in our region won $250,000 in the New York Mega Millions jackpot. The winner purchased their ticket at Otisville Mart on Route 211 between Nov.


Early morning crash claims one life in Orange County

MOUNT HOPE A one-car crash near Otisville early Saturday morning claimed one life, State Police at Middletown said.


Whatever happened to...?: Otisville family tested by fire

The DeGroat children are eating pieces of birthday cake with their youngest brother, Briar.


Ex-Milberg partner Bershad gets 6 months in prison

Former Milberg Weiss partner David Bershad was sentenced on Monday to six months in federal prison and three years of supervised release for his role in a scheme in which the firm paid clients to serve as ...


Raffaello Follieri Gets Four and a Half Years

Raffaello Follieri was sentenced to four and a half years in prison in Manhattan federal court today.


Police pursue, charge man doing 120 mph on Route 211

By OLIVER MACKSON TOWN OF WALLKILL - A 19-year-old Otisville man led police on a chase at speeds exceeding 120 mph before he was arrested in the Village of Montgomery early Friday, state police said.


Mother: Wrong man jailed in daughter's murder

Lois Hall, whose daughter Michaelanne Hall was savagely murdered near Times Square in November 1987, has long suspected police got the wrong man. She felt uneasy that Lebrew Jones _ a security guard with an IQ of 68 who had no criminal record _ was convicted.

Twenty years later, having learned more about the investigation and meeting Jones in Otisville state prison, Hall is convinced he is innocent and troubled that Manhattan District Attorney Robert Morgenthau's office won't talk to her about it.


Portion of County Rte. 61 closed during repair work

County Route 61 is temporarily closed because of repairs. According to the county Public Works Department County Route 61 between Route 209 in Westbrookville and Route 211 in Otisville is closed because a ...


Bustitution slows service on Port Jervis Line

Congestion is slowing bustitution on the Metro-North Railroad Port Jervis Line. Buses are replacing trains between Harriman and Port Jervis stations for midday trains through Oct.


Record investigation nets top honors

Times Herald-Record Staff Writer Christine Young's "I Didn't Do That Murder" story won top honors in the 9th annual Online News Association Award for excellence in digital journalism Saturday night at an awards ...


Police charge 3 Dollar Tree employees with robbing manager

Police have charged three Dollar Tree employees with robbing a store manager, according to state police.


Drug kingpin Hopson wants his sentence reduced

A former Sharon man serving 30 years for drug offenses is asking for a sentence reduction, but prosecutors said he is not entitled to one.


Man indicted in Otisville gas station vandalism

An Orange County grand jury indicted Benjamin Otero Monday on charges that he vandalized an Otisville gas station in June.


14-year-old leads cops on high-speed chase

State police said a 14-year-old Otisville girl led them on a 20-minute high-speed car chase early Wednesday before she was finally stopped on Route 6. State police spotted a car with no license plates around ...


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"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
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