Lyons Winter Event 2023
On January 31, Lyons Mortgage celebrated the start of 2023 with colleagues, clients and friends at Ovelia in Astoria, New York. Lyons’ leadership,Edith O’Donnell, Lyons CEO; Nicos Tziazas, Lyons President and George Sophocleous, Lyons Chairman welcomed everyone with culinary treats that fed everyone’s spirits and provided a festive time with partners and friends in the … Continue reading “Lyons Winter Event 2023”
2023 Housing & Mortgage Market Outlook
The U.S. Housing Market experienced its first real slowdown in the past decade. A big driver for this was the substantial increase in mortgage rates, which negatively impact affordability. According to the Freddie Mac Primary Mortgage Market Survey (PMMS), the average 30 Year Fixed Mortgage Rate approximately doubled, from 3.125% at the start of 2022 to 6.25% … Continue reading “2023 Housing & Mortgage Market Outlook”
How to finance a rental property
The demand for rental housing has been increasing for decades. What does the path to owning a rental property look like, and what are the loan options? Consider a rental property if you are looking to expand your real estate holdings. The renter is helping you pay off the mortgage, upping your equity in the … Continue reading “How to finance a rental property”
The advantages of working with a direct mortgage lender
You have a variety of lending institutions to choose from for your real estate transactions. What is a direct lender, and what are the benefits of working with one? A direct lender does not only take your mortgage application. It funds the loan upon approval and completes every other part of the loan process in-house. … Continue reading “The advantages of working with a direct mortgage lender”
Three tips to buy a home in a seller’s market
There are a few data points you can look at to gauge the temperature of the real estate market. How long are listings staying on the market? How many listings are there on the market in total? You can find these and more market trends on websites like Redfin and realtor.com. When houses sit on … Continue reading “Three tips to buy a home in a seller’s market”
Curb appeal advice to sell your home faster in 2021
Are you thinking about selling your house? With home prices soaring and high demand for housing, we don’t blame you. The low inventory in today’s real estate market makes it tempting to see what return you can get on your own home. Consider boosting the curb appeal of your house if you think it might … Continue reading “Curb appeal advice to sell your home faster in 2021”
Amortization: what it means, when it’s used, and how to use Lyons’ Payment Schedule Calculator
Amortization is the prevalent method of paying the principal of a loan back on a predetermined repayment schedule. When you pay your mortgage each month, you pay principal and interest on the amount that you borrowed. The principal payment goes toward paying down the outstanding balance of the loan. The interest payment goes toward paying … Continue reading “Amortization: what it means, when it’s used, and how to use Lyons’ Payment Schedule Calculator”
Closing Costs: What are they and how to keep them low
Know what closing costs to expect before starting your application and budget smarter. Many first-time homebuyers don’t consider what they will have to pay apart from the down payment at closing. These charges, known as closing costs, ensure the completion of the transaction. Financing can fall apart for people who haven’t budgeted for what they … Continue reading “Closing Costs: What are they and how to keep them low”
How Mortgage Interest Rates Work
We all want the lowest interest rate possible. How are interest rates determined? Whether shopping for a credit card or an auto loan, everyone is trying to get the best available interest rate. This is especially true when shopping for a home mortgage. Buying a home is the largest transaction many people will make in … Continue reading “How Mortgage Interest Rates Work”
How to save for a home down payment
With mortgage rates at historic lows, now is as good of a time as any to consider purchasing your first home. The benefits of homeownership are plentiful, from both a financial and quality-of-life perspective. People trying to buy their first home face a common obstacle: having the funds for a down payment. If you are … Continue reading “How to save for a home down payment”
Tax Benefits of Homeownership
With tax season already upon us, Lyons Mortgage wanted to go over some of the advantages that homeowners can enjoy on their upcoming tax filings. Tax benefits are available to homeowners to incentivize homeownership in America. There are tax breaks no matter the type of home you own, from mobile homes to co-ops and condos. … Continue reading “Tax Benefits of Homeownership”
All things credit: Understanding your credit report, score, and more
Credit health is crucial in empowering consumers to make the most important purchases on terms favorable to them. Credit will be a factor in most major purchases people make. Those with strong credit get the most competitive interest rates available, in turn saving a lot of money. As a lender, Lyons Mortgage is intimately familiar … Continue reading “All things credit: Understanding your credit report, score, and more”
