Todays Rates: Purchase - 30 Year Fixed: 5.000%   APR: 5.098%     15 Year Fixed: 4.250%   APR: 4.379%      30 Year Fixed High Balance: 5.625%   APR: 5.781%               Refinance - 30 Year Fixed : 5.125%   APR: 5.244%     15 Year Fixed: 4.375%   APR: 4.504%      30 Year Fixed High Balance: 5.750%   APR: 5.906%     

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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”

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”

Your First Home Inspection: What you need to know

The time has come for you to get a home inspection on your prospective purchase. This is a crucial part of the home buying process and must be treated with the utmost care. It is critically important to find a good house inspector. You should know what a house inspector does and doesn’t do during … Continue reading “Your First Home Inspection: What you need to know”

Condo vs. Co-op

Two common housing options in New York City and many other metropolitan areas are condominiums and cooperatives, commonly referred to as co-ops. While similar, there are key differences between a condo and a co-op. From distinctions in ownership to varying fees, knowing the basic structure of the two entities will help in making the best … Continue reading “Condo vs. Co-op”

5 Reasons To Hire A Real Estate Agent

People are relying less on professional services and have developed a do-it-yourself attitude. When it comes to some tasks, the DIY strategy can be tiresome and inefficient. Certain topics require years of experience to make smart decisions. This is especially true when it comes to real estate. Home values, markets, and legal terms are just … Continue reading “5 Reasons To Hire A Real Estate Agent”

5 Questions You Should Ask Your Real Estate Agent

Real estate agents have insights into the community as well as the expertise on the financial benefits of homeownership at a specific location. Are you looking to buy a home soon? Get all the information you can by reading these 5 questions you should be asking your real estate agent! How much will it all … Continue reading “5 Questions You Should Ask Your Real Estate Agent”

Queens Real Estate Outlook: 2018

The Queens real estate market has increasingly made headlines for new developments and ever-increasing growth.  Long Island City and Astoria were numbers 8 and 9 on the list of hottest New York City neighborhoods, according to PropertyShark.  The median sales price for a home in Long Island City in 2016 was $825,000, making it the … Continue reading “Queens Real Estate Outlook: 2018”

Frequently Asked Questions

What does my mortgage payment include? For most homeowners, the monthly mortgage payments include three separate parts: Principal: Repayment on the amount borrowed. Interest: Payment to the lender for the amount borrowed. Insurance: Monthly payments made into a special escrow account for items like hazard insurance and property taxes. Escrowing for taxes and insurance is … Continue reading “Frequently Asked Questions”

Co-Op vs Condo: What is the Difference?

When it comes time to buying an apartment, many people confuse co-ops (cooperatives) with condos (condominiums). As far as living standards go, the two are very similar. From a legal and financial point of view, the differences between the two are significant. In New York City, there are more co-ops than condos. The gap is … Continue reading “Co-Op vs Condo: What is the Difference?”

Trended Credit. Are you ready?

Get ready, Fannie Mae/ Freddie Mac, the largest purchasers of mortgages will begin requiring  new credit reports as early as September.  These new reports can include  “trended credit data” and could have an impact on potential home buyers with their home-financing process as well as the real estate professionals working with them. What is trended credit? Trended credit data provides … Continue reading “Trended Credit. Are you ready?”

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