NY Mortgage Refinance in New York
We make it easy to get the lowest mortgage refinance interest rate in NY.
Our loan specialists can customize a loan that is perfect for your needs. In no time at all, 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 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 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.
" Traditional banks make their customer fit the loan; at Somerset Mortgage Lenders we make our loan fit the customer. "
Return to our bad credit mortgage refinance page
Bad Credit? We can help!
Call for COMPLETE details NOW!
(800) 675-9783
| New York News |
Sydney passes Go
Monopoly world edition ... Sydney ranks with London and New York. August 20, 2008 - 9:57AM Sydney is the only Australian city to be included in the first international version of the famous board game, ...
|
Summer hailstorm damages N.Y.'s apple crop
As much as a third of the state's apple crop has been damaged by hail during the summer, costing farmers millions of dollars and potentially raising the price for consumers, a state Department of Agriculture ...
|
Presidential Veepstakes Ending Imminent
Democratic presidential candidate Barack Obama planned a typical day of campaigning Tuesday while speculation flared over when he would announce his choice of running mate.
|
Today in History - Aug. 15
Today is Friday, Aug. 15, the 228th day of 2008. There are 138 days left in the year.
|
Poll: NY voters aren't betting on lawmakers to act
Closed-door negotiations between the Legislature and Gov. David Paterson continued through Monday in effort to trim New York's state budget to stave off further deficits in an economy sinking into recession.
|
Islamic terror cell 'may have been plotting to attack Queen'
A terror cell caught with details of bomb-making and suicide vests may have been plotting to attack the Queen and members of the Royal family, it can be disclosed.
|
Camp is a welcomed getaway for homeless children
Louise Gardiner, left, of Scotland, holds Taiwan Wilson, 10, at the Homeward Bound Camp, Wednesday, July 9, 2008, in Bear Mountain N.Y. Last year, a daily average of 9,297 families - the most ever - were living ...
|
NYPD planning to track every vehicle in Manhattan
The New York Police Department is working on a plan to track every car, truck or other vehicle entering Manhattan and screen it for radiation or other terror threats.
|
You say Tomatoes, I Say Tomatos, Festivals of Them, Restaurants in New York, Art in Nashville
Forgive me for the Dizzy Gillespie riff, I could not resist. This Tour de France in New York, a group of restaurants that is not a bicycle race, after the Tainted Love period we had with Tomatoes, offers New ...
|
Oil rises on worries Storm Fay may disrupt supply
Oil prices rose on Monday in Asia on concerns that Tropical Storm Fay may disrupt oil operations in the Gulf of Mexico.
|
Singapore: Oil prices rise on storm worries
WORLD oil prices rose today, boosted by the risks a tropical storm posed to oil facilities in the Gulf of Mexico while the market remained preoccupied about slowing economic growth, dealers said.
|
New Law Bars Sex Offenders From Broker Licenses
Governor Paterson has signed a bill that will forbid anyone convicted of a sexual crime -- including sexual misdemeanors -- from getting a New York State real estate broker license, according to The Business ...
|
FBI identifies "Rockefeller" as German con man
A man who passed himself off as a member of New York's Rockefeller oil dynasty is really a German who conned his way into U.S. high society, federal investigators said on Friday.
|
NY pols seek end to uranium in U.S. labs
Two New York elected officials urged the federal government Tuesday to bar the use of highly enriched uranium in U.S. civilian research centers. Rep. Peter King, a Long Island Republican, and state Attorney General Andrew Cuomo, a Democrat, said such use by researchers _ mostly at universities _ could allow the material for nuclear bomb-making to fall into the wrong hands. The two are asking federal regulators to step in and ban use of the material at civilian facilities. Currently, only seven civilian sites have highly enriched uranium, and four of those are planning to phase it out.
|
Jay-Z Gives A Shout-Out To Barack Obama On New Kanye West-Produced Song, 'Jockin' Jay-Z'
Jay-Z's first record from The Blueprint 3, "Jockin' Jay-Z ," has hit the airwaves and the Internet.
|
Doctor examines Pakastani accused of U.S. troop attack
A Pakistani woman suspected of links to al Qaeda and accused of trying to kill U.S. soldiers in Afghanistan was examined by a doctor on Tuesday after complaining of pain from gunshot wounds, her lawyer said.
|
Read First Shot in First Shot
So the summer is nearly over - not according to that silly Gregorian calendar, but by the say-so of the movie conglomerates that now control space, time and the weather.
|
New Yorkers hold vigil for pregnant woman killed by van
AP Photos/Bebeto Matthews Pedro Espada Jr., second from left, president of the Soundview Healthcare Network, is joined by a group including clergy, community leaders and residents as he speaks during a vigil ...
|
Oil traders factor in Georgia-like risks
Russian troops lead a convoy entering Poti, Georgia, a Black Sea port city with an oil terminal.
|
City unemployment rate fell in July
The seasonally adjusted unemployment rate dropped to 5.0% in July from 5.4% in June as industries such as construction and tourism contributed thousands of new jobs.
|
|
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
| |
"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
|
|