Top Rated New York Mortgage Company
At Jet Direct Mortgage, home loans are more than just financial products – they’re the foundations of your future and dreams. Our experienced team offers an extensive range of mortgage solutions to suit your unique requirements, with personalized customer service that makes purchasing or refinancing stress-free. Let us help you build a better tomorrow in New York!
Where New York goes for mortgages and home loans!
Call Jet Direct Mortgage Today!
1-800-700-4JET
Need a Home Loan?
Questions About Our Loans?
Ready to Start The Loan Process?
What are Custom Mortgage Rates?
From perfect credit to no down payment, online mortgage rates won’t always line up with reality. Requesting a personalized quote is essential for comparing the cost of your individual loan. Don’t let factors like low savings or poor credit keep you from getting an accurate estimate – be sure to factor in other considerations such as mortgage insurance and interest rate adjustments.
From perfect credit to no down payment, online mortgage rates won’t always line up with reality. Requesting a personalized quote is essential for comparing the cost of your individual loan. Don’t let factors like low savings or poor credit keep you from getting an accurate estimate – be sure to factor in other considerations such as mortgage insurance and interest rate adjustments.
How Do I Find the Best Mortgage Rates in New York?
From perfect credit to no down payment, online mortgage rates won’t always line up with reality. Requesting a personalized quote is essential for comparing the cost of your individual loan. Don’t let factors like low savings or poor credit keep you from getting an accurate estimate – be sure to factor in other considerations such as mortgage insurance and interest rate adjustments.
What types of mortgages do you offer in New York?
- Conventional loans
- FHA loans
- Renovation Loans
- Reverse mortgages
- Jumbo loans
- VA Loans
What are the current interest rates for mortgages in New York?
For current mortgage rates, please call us at 1-800-700-4JET
New York State Counties We Serve
How do I qualify for a mortgage with your company in New York?
Secure your financial future by taking control of your credit score! Reaching a strong range above 600 is the key to unlocking prime mortgage loans, while FHA options still remain available if you don’t quite hit that mark. Investing in an improved rating now can set yourself up for years to come with ready access to financing opportunities.
What is the application process like for a mortgage in New York?
With Jet Direct Mortgage, you can now put the power of securing a loan right in your pocket. Our innovative mobile app streamlines the home buying and refinancing process with comprehensive features that make it easier than ever before. Plus, real estate agents also benefit from this technology as they’re able to expedite transactions on behalf of their clients without any complications!
Can you provide me with a pre-approval letter before I start house hunting in New York?
Absolutely. To give yourself an edge in the competitive housing market, it’s a must to get pre-approved for your mortgage. Having this letter of approval when making an offer ensures that there will be no unforeseen issues and makes success much more attainable!
What’s the difference between a fixed-rate and an adjustable-rate mortgage?
A fixed-rate mortgage carries the same interest rate for the entire term of the loan, so your monthly payments remain constant. An adjustable-rate mortgage (ARM), on the other hand, starts with a lower fixed rate for a set period—often a year—before adjusting periodically based on the terms of your loan. For example, a 5/1 ARM has a low fixed rate for five years, then the rate changes every year, potentially going up or down according to market conditions.
Will applying for a mortgage affect my credit score?
During the underwriting stage, your lender performs a “hard pull” on your credit report, which can temporarily lower your score—especially if you have multiple inquiries within a short timeframe. However, once you start making regular, on-time mortgage payments, it usually helps your credit over the long run by diversifying your credit history and demonstrating a solid payment record.
What do mortgage lenders look at when reviewing applications?
Most lenders follow specific criteria, including a debt-to-income (DTI) ratio of no more than 43% and a credit score of at least 580 (depending on the loan type). You’ll also need to show proof of down payment funds, provide at least two years of consistent employment history, and ensure the property meets the lender’s appraisal requirements.
Which mortgage term is best?
A 30-year mortgage offers lower monthly payments but costs more in interest over the full term. A 15-year mortgage features higher monthly payments but significantly reduces the total interest you pay. The choice ultimately depends on your personal financial situation and long-term goals.
How Does the Mortgage Loan Process Work?
The mortgage loan process generally involves several steps, each designed to verify your financial readiness and the property’s value. Below is a quick overview:
| Step | What Happens | Key Points |
|---|---|---|
| 1. Submission | You provide all required documentation (proof of income, credit information, etc.). | – Ensure you have accurate and up-to-date records.- Lenders typically look for a strong credit score and sufficient income. |
| 2. Underwriting | The lender’s underwriting team reviews your financial information and confirms you can repay the loan. They also verify your down payment and closing funds. | – Large deposits may require documentation.- Many lenders want to see at least 2–3 months’ worth of mortgage payments in savings. |
| 3. Appraisal | The bank orders an appraisal to confirm the home’s value is at least the amount of the loan. | – Confirms the property value meets or exceeds the mortgage amount.- Some loan types (e.g., FHA) also require a home inspection. |
| 4. Closing Disclosure | At least three days before closing, you receive a Closing Disclosure outlining the final loan terms and total closing costs. | – Review the disclosure carefully to ensure all details match your expectations.- You must acknowledge receipt to stay on track for your closing date. |
| 5. Settlement | On closing day, you pay your down payment and closing costs. You receive the keys and officially take ownership of your new home. | – This is also known as “closing” or “escrow closing.”- Make sure you understand all final documents before signing. |
Key Considerations
- Credit and Income: Underwriters will review your credit score, credit history, debt-to-income ratio, and employment history.
- Funds Verification: The lender confirms the source of your down payment and your ability to cover closing costs.
- Property Inspection (Recommended): Even if not required by the lender, a home inspection offers peace of mind about the property’s condition.
- Mortgage Disclosure: Carefully review all documents, especially the Closing Disclosure, to avoid surprises on the settlement day.
How to Secure a Low Interest Rate?
Below are several strategies that can help you obtain the lowest possible interest rate on your mortgage:
| Strategy | Why It Helps |
|---|---|
| Improve Your Credit Score | – Paying bills on time, reducing credit card balances, and avoiding new credit accounts can elevate your score.- A higher credit score typically means lower rates. |
| Shop Around | – Comparing multiple lenders can reveal more competitive offers.- Don’t accept the first offer; different lenders may have varying terms and rates. |
| Increase Your Down Payment | – Putting more money down reduces the loan amount, which may lower your interest rate.- A larger down payment also strengthens your borrowing position. |
| Choose a Shorter Loan Term | – Shorter-term loans (e.g., 15-year) usually have lower interest rates.- Although monthly payments may be higher, you’ll save on overall interest costs. |
| Consider Adjustable-Rate Mortgages (ARMs) | – ARMs often start with lower interest rates than fixed-rate mortgages.- Be mindful that the rate can adjust after the initial period, possibly raising monthly payments. |
| Improve Your Debt-to-Income Ratio | – A lower debt-to-income ratio signals financial stability to lenders.- Paying down existing debts can make you eligible for more favorable loan terms. |
By implementing these strategies and strengthening your overall financial profile, you’ll not only increase your chances of securing a lower interest rate but also have greater access to the best mortgage brokers and lenders in the market.