Somerset Investors Corp. 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 

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

Return to our mortgage refinance page

Bad Credit? click here.

Call for COMPLETE details NOW!

(800) 675-9783

New York News
Award Winning Beer in Ithaca

The Ithaca Beer Company took home a pair of medals from a nationwide beer competition in Denver.


VIDEO: Liberal Outrage - McCain Rally in Manhattan

The Pro-McCain march which took place during a street fair on Manhattan's ultra liberal Upper West Side had onlookers booing and shouting, "you have no brain" and "wake up". As the New York Republican's marched ...


Counting cards: NY collection includes 6,356 decks

Columbia University has a collection of playing cards that is among the world's largest, a trove of 6,356 decks that the Ivy League institution painstakingly catalogued this spring after they were donated to ...


Fire marshals: Manhattan blaze caused by fire play

Top Story Headlines Stocks rise in early trade Stock prices are solidly higher in early trading.


Fire marshals investigate 2nd fatal blaze in NYC

Fire marshals were investigating whether there was a functioning smoke detector in a Brooklyn apartment where a blaze killed a Guyanese immigrant and his 12-year-old nephew.

The fire early Sunday was the second fatal blaze over the weekend. Just a day earlier, a couple and three of their children died in a fire at the family's Manhattan apartment after it became a smoky deathtrap, firefighters said. The lone survivor of Saturday's fire, a 10-year-old boy, remained hospitalized with critical injuries.


Last Chance to See NY's Manmade Waterfalls

AP - The four manmade waterfalls of New York's East River are about to dry up - much to the relief of critics who say salty water from the art installation has destroyed waterfront foliage.


Naturi Naughton Joins Cast of 'Fame' Remake

Posted Oct 10th 2008 9:30AM by Wilson Morales Filed under: It's All Reel , Entertainment Naturi Naughton , who's set to play Lil' Kim in the Biggie Smalls film 'Notorious', has just landed another plum role.


Today in History - Oct. 13

Today is Monday, Oct. 13, the 287th day of 2008. There are 79 days left in the year. This is the Columbus Day holiday in the United States, as well as Thanksgiving Day in Canada.

Today's Highlight in History:

On Oct. 13, 1792, the cornerstone of the executive mansion, later known as the White House, was laid during a ceremony in the District of Columbia.

On this date:

In A.D. 54, Roman emperor Claudius I died, poisoned apparently at the behest of his wife, Agrippina.

In 1775, the United States Navy had its origins as the Continental Congress ordered the construction of a naval fleet.


New York teachers sue over ban on campaign buttons

The teachers' union for the nation's largest public school system accused the city on Friday of banning political campaign buttons and sued to reverse the policy, declaring that free speech rights were ...


'Bloomberg's the mayor of New York, not the king'

Pushy, ambitious, bold, Michael Bloomberg's bid to remain mayor for another four years marks him out as the archetypal New Yorker.


Chicago runners hope for cooler marathon

Joan Marie Kaye and 45,000 runners gearing up for the Chicago Marathon know that muscle-aching, mind-numbing, hurts-so-bad-you-want-to-die kind of pain almost surely awaits them.


5 killed in Manhattan blaze, including 3 children

A family of five, including three children as young as 15 months, died in a blaze Saturday that filled an apartment with thick black smoke and kept the victims from escaping through the front door, fire officials said.

A 10-year-old boy who survived was in critical condition after the fire in a public housing complex in Manhattan's Chelsea neighborhood. The boy was found with two other family members in a back bedroom, while the rest of the family sought refuge in a full bathtub and underneath a bathroom sink, officials said.


CNN to give $100,000 to `hero' on holiday special

NEW YORK A woman who moved to Louisiana to help Hurricane Katrina survivors, a marathon runner who gets homeless people on their feet and several community organizers will be honored by CNN in its second ...


Rival Cypriot leaders hold private talks on reunification

NICOSIA: Rival Greek- and Turkish-Cypriot leaders held private talks on Friday in a bid to speed up slow-moving negotiations on reunifying the divided Mediterranean island.


Economic woes cause travelers to postpone, cancel trips

The plunging stock market, big bank failures, falling home values and other scary economic news could signal trouble for travel.


Latin America stocks seesaw lower on US frenzy, contagion fears

Latin American markets seesawed lower in volatile trading Friday as skittish investors pulled cash from the region on fears that fallout from the global financial crisis could not be contained.


NY priest charged with e-mailing porn to teenager

Police say a priest who serves as a youth minister at a Roman Catholic university e-mailed pornographic videos to a Colorado detective posing as a 14-year-old.

Authorities say the Rev. Charles Plock, a chaplain at St. John's University in Queens, shot the masturbation movies in the bathroom of his on-campus apartment. The priest's face is clearly visible, according to investigators.

As part of an online sting operation, police in Colorado's Adams County traced the e-mail to St. John's. In New York, the NYPD investigators armed with a search warrant seized Plock's computers along with the homemade footage.


Wyo. town reflects 10 years after Shepard's murder

A decade after a gay college student was beaten, tied to a fence and left for dead, many in this small college town are still struggling with the aftermath of a crime that triggered nationwide sympathy and brought a re-examination of attitudes toward gays.

Ten years ago, 21-year-old Matthew Shepard died after being beaten and left in the cold by two men he met in a bar. Residents were shaken by the brutality of the crime, and the media descended on the town trying to explain why it happened.


Met's "Salome" At A Theater Near You

Karita Mattila as Salome in the Metropolitan Opera's production of "Salome." The Metropolitan Opera's third season of The Met: Live in HD continues with a special afternoon transmission of Richard Strauss's ...


Paterson Says Home Heating Fears Should Ease

Gov. David Paterson says the winter heating season may be easier than expected for low- and moderate-income New Yorkers.


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.
 
"Every other company said they could not help us. After speaking to about five companies, we really believed that no one could. Then we called Somerset, and your company proved us and those other companies wrong. We can't thank you enough for all your hard work and effort in getting us a low fixed rate. We can now breathe easier..." - L. Braun
© 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)