Somerset Mortgage Lenders Mortgage Refinance, Reverse Mortage, Home Loan
  Reverse Mortgage Divorce Buyouts Debt Consolidation Home Improvement Purchase Refinance
Search Somerset:
Print this page    E-mail this page

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.

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. "
Local mortgage refinance directory for NY :
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Accord Allegany Andover Ashland
Acra Allentown Angelica Ashville
Adams Alma Angola Astoria
Adams Basin Almond Annandale on Hudson Athens
Adams Center Alpine Antwerp Athol
Addison Alplaus Apalachin Athol Springs
Adirondack Altamont Appleton Atlanta
Afton Altmar Apulia Station Atlantic Beach
Akron Alton Aquebogue Attica
Albany Altona Arcade Au Sable Forks
Albertson Amagansett Arden Auburn
Albion Amawalk Ardsley Auriesville
Alcove Amenia Ardsley on Hudson Aurora
Alden Amityville Argyle Austerlitz
Alder Creek Amsterdam Arkport Ava
Alexander Ancram Arkville Averill Park
Alexandria Bay Ancramdale Armonk Avoca
Alfred Andes Arverne Avon
Alfred Station

Return to our mortgage refinance page

Bad Credit? click here.

Call for COMPLETE details NOW!

(800) 675-9783

New York News
Audit: NYPD lazy about guns

The New York Police Department property division has failed to properly secure and track hundreds of guns because of sloppy storage and antiquated record-keeping, a city audit has found.


Auction house seeks to sell Rosa Parks collection

Arlan Ettinger will never forget the response he got when he took one of civil rights pioneer Rosa Parks' hats to a meeting at the Apollo Theater in New York.


Report: Gov. Charlie Crist gets engaged

Florida Gov. Charlie Crist is engaged to a woman he met last September during a trip to New York, according to a published report Thursday evening.


Consumer confidence down statewide

You can call it an economic sign of the times. The latest Siena Research Institute poll out later this morning shows consumer confidence in New York State is at a record low.


Big cheese carving celebrates U.S. Independence Day

A sculpture of the signing of the Declaration of Independence made from a one-tonne block of cheddar cheese glistened on the sidewalk of Times Square in New York on Thursday as an artist's tribute to the Fourth ...


Oil prices near $146 a barrel for 1st time ever

Oil prices neared $146 a barrel Thursday for the first time ever on reports of declining U.S. stockpiles and the threat of conflict with Iran.


Forest services plans to use wasps to find invasive insect

Forest managers in the Northeast and Mid-Atlantic states soon will enlist wasps to help search for a tree-killing insect that has been devastating woodlands.


Oil prices hold above 142 dollars ahead of US energy report

Oil prices breached 142 dollars per barrel again on Wednesday, nearing recent record heights, as traders awaited the latest weekly snapshot on energy stockpiles in the United States.


Clinton on first upstate NY swing since campaign

Sen. Hillary Rodham Clinton delivered a clear message to her constituents Wednesday: I love New York.


Clay Felker, New York's Editor of Cool

According to everyone, Clay Felker's New York magazine was the best. 'Clay Felker's New York' is a phrase that refers to a man who died yesterday (at age 82, at his home in Manhattan, from throat cancer) and the magazine he started and edited -- first in 1964 as a Sunday supplement to the New York Herald Tribune, and then relaunched on its own with Felker's last dime at the time, in 1968, until Rupert Murdoch wrested it away from him in a 1977 takeover.

It could also be about a place that is always in a state of vanishing, a New York City before everyone caught on, a New York in the throes of constant reinvention and trendification, a place where the idea of radical chic was born and so was the national cult of Ken Kesey and so was a case of Saturday Night Fever. Clay Felker's New York was a magazine written and designed by and for the coolest people who ever lived, and, to the degree that they're still around, they'll never let you forget it.


Springsteen's boardwalk fortune teller Madam Marie dies

Asbury Park - Madam Marie Costello, who had told fortunes since the 1930s and became famous in rock music history for her presence and predictions on the Asbury Park boardwalk, died Friday, her great-granddaughter, Sally ...


Oil climbs near $143 on Mideast tensions

Oil prices neared $143 a barrel Tuesday amid concerns about a potential conflict between Iran and Israel and a weakening dollar.


Black Americans on long road to political equality

By Matthew Bigg

ATLANTA (Reuters) - For black Americans, the road to political inclusion that has allowed Democratic candidate Barack Obama to make a serious bid for the White House has been long and difficult.

After the Emancipation Proclamation ended slavery in 1863, a series of laws and amendments to the U.S. constitution allowed Hiram Revels to be elected to the senate in 1870 in Mississippi as the country's first African American congressman.

But only a small number of black Americans have entered the U.S. senate or become state governors since then and most of those who have found a slot on a presidential ticket had no chance of winning.


Ex-Gov. Pataki off the list of NY's GOP delegates

A spokesman for former New York Gov. George Pataki says the Republican was bounced as a state delegate supporting John McCain at the GOP's national convention.


Abu Ghraib inmates sue contractors, claim torture

Three Iraqis and a Jordanian filed federal lawsuits Monday alleging they were tortured by U.S. defense contractors while detained at the Abu Ghraib prison in Iraq in 2003 and 2004.


Agency wants to throw out World Trade Center rebuilding schedule

The World Trade Center's owner on Monday proposed scrapping the schedule and budget for the prolonged rebuilding of the site of the Sept.


Rhythm-and-blues singer Fantasia

Today is Monday, June 30, the 182nd day of 2008. There are 184 days left in the year.


Oil pushes towards $US142

World oil prices closed in on $US142 in Asian trades today, pushed up by continued worries over supply and the weak US currency, dealers said.


Two New York Army National Guard soldiers killed in Afghanistan

Two New York Army National Guard Soldiers have been killed in Afghanistan, the Department of Defense announced Sunday.


New Wash. law bans hand-held phones while driving

Driving with one hand on the wheel and the other on a cell phone is no longer an option for Washington state drivers.


Save time with our easy online mortgage application.
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
© 2006 Somerset Investors Corp. All rights reserved.
home | about us | Mortgage Blog | contact us | privacy policy | state licensing | search | links | link to us | site map
mortgage calculators | refinance | purchase | fha | reverse mortgage | divorce buyout | debt consolidation
Eqaul Housing Lender Member of the Better Business Bureau (BBB) Member of the National Reverse Mortgage Lenders Association (NRMLA)