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Alplaus, NY Mortgage Refinance in New York

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

Our loan specialists can customize a loan that is perfect for your needs. In no time at all, Alplaus, 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 Alplaus, 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 Alplaus, 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 
Understanding Your Credit
Your Interest Rate

" Traditional banks make their customer fit the loan; at Somerset Mortgage Lenders we make our loan fit the customer. "

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Alplaus, New York News
Alplaus Fourth of July parade has old-fashioned, hometown feel

I'm not sure when the Alplaus Fourth of July parade first began. It didn't exist when we moved there in 1966.


Downed wires to balem for traffic jam

Vehicles snarled along North Shore streets this afternoon after power lines fell onto a tractor-trailer traveling under the Goethals Bridge, forcing authorities to re-route traffic. via Pennlive.com


Local bridges to be replaced

"It's a tough situation either way you look at it"

With summer coming up fast, the Mohawk Valley is preparing for construction season. via Gloversville Leader-Herald


Dunkin' Donuts plans Tax Day donut giveaway

"We know Americans work hard for their money and this is our small way of showing our appreciation"

Dunkin' Donuts is offering customers a free donut on Tax Day, April 15. The Canton, Mass.-based food chain said the donut is free with the purchase of a cup of hot coffee. via The Business Review


Park Plans Remain in Limbo Thanks to City Agencies

Where there's a will ... there's a way. Except when you're dealing with the city of New York. via Staten Island Advance


2 businesses could lose Empire Zone benefits

Two businesses in the Albany, N.Y., area are in jeopardy of losing state tax credits and being booted out of the state's Empire Zone program, state officials said. via Business Review


NY Legislature Passes Budget

It was the most rocky of starts for a state fiscal year: A new governor installed after a scandal, a budget deadline missed by nine days, and a secretive budget negotiation process that even had legislators ... via WCBS Newsradio 880


Demolition on 4 Sch'dy buildings set for April 12

"I think the retailers are hesitant to move forward until they can really touch it, feel it and look at the building"

Four dilapidated buildings in the heart of downtown Schenectady, N.Y., are tentatively scheduled to be demolished April 12, clearing the way for a proposed $3.75 million retail and office complex. via Business Review


Schools to teach Arabic

"Just as with a Chinese person learning how to speak English, an American student learning Arabic script opens them up to more languages"

Citing increasing demand for Arabic speakers in the work force, Schenectady city schools say they will be among the first public schools in the Capital Region to teach children as young as 11 the main language ... via Times Union


Local artist Fledman to speak to Webster Art Club

The Webster Art Club will meet from 7 to 9 p.m. April 9 at the Webster Fire Hall, 29 South Ave. via Democrat & Chronicle


Mike in Overdrive

"We've made it clear how this is a priority issue for us and what the consequences could be"

TWO of Mayor Bloom berg's close pals are the largest individual con tributors to a political action fund pushing the mayor's green agenda, including targeting legislators who oppose congestion pricing. via New York Post


Schenectady Residents Urged to Report Broken Street Lights :

"Residents can call the Mayor's office and give the street and the pole number"

Report those broken streetlights -- that's the message being pushed to Schenectady residents today. via CBS 6 Albany


Population loss in Central New York

Cities in western New York continued to show population losses over the past year. via WSTM-TV Syracuse


Paterson's Patience On Personal Questions Wearing Thin

"I think that more than any elected official on this planet, and probably in outer space, I have discussed my personal situation over the last week"

The new governor bristles when questions about his recent revelations won't stop. via WHAM-AM Rochester


Pro-Pricing PAC Puts Pols on Notice

"The whole thing about global warming is that it's redefined what pollution is"

De Blasio, Jeffries, Gerson, Millman: Will they tarnish their environmental records by voting against pricing? The New York League of Conservation Voters announced earlier this month that it is forming a new ... via Streetsblog


Millionaires tax out in new N.Y. budget deal

"It's painful, it's difficult, it's hard to cut"

Lawmakers and Gov. David Paterson are nearing a deal on a new state budget that does not include a tax hike on millionaires sought by Assembly Democrats, legislators said Wednesday. via Press & Sun-Bulletin


MADD prepares to honor DWI victims

"If someone drives by on their way to a bar and sees (the display), they might think twice about drinking and driving."

Mothers Against Drunk Driving of Western New York is gearing up for the annual DWI victim memorial garden that serves as a remembrance and creates awareness for community members. via Democrat & Chronicle


Acting NY State Police Superintendent Retiring

SENTENCE STATEMENT, FELTON SAYS HE'S RETIRING EFFECTIVE APRIL 4th. HE HAD HELD THE POST SINCE FEBRUARY OF LAST YEAR. via WGY-AM Albany


Lawmakers, officials react to Paterson's first speech as governor

"Whenever New York has faced a challenge or a difficult time we come together. And David Paterson is the type of person who will work well to bring people together. We have to put aside politics and partisanship and work in the public's interest."

George Pataki: 'Whenever New York has faced a challenge or a difficult time we come together. via Journal News


Paterson: Cut budget by $800 million

"New York is facing a fiscal challenge that we have not seen since the dark days following Sept. 11"

Gov. David Paterson Tuesday proposed cutting state spending by $800 million - an across-the-board cut of 2 percent. via Press & Sun-Bulletin


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