New City Luxury
Homes Need Luxury Financing
845
544 4026
Any home carrying a price tag of $1 million
or more generally falls into the ‘luxury property’ category. To finance it, a
luxury loan is called for. Since
financing luxury homes in town can be more challenging than financing
run-of-the-mill properties, many prospective home owners at the luxury level
seek the services of a specialist lender. MarketWatch has found that the
average price of luxury properties in some major US cities is well over the
million dollar threshold – making care in preparing jumbo loan applications
more important than ever.New
City Luxury Homes Need Luxury Financing
Whether or
not you choose to ask your REALTOR® to help you find a mortgage broker
well-versed at your price point, the same guiding principles need to be followed:
Detail-Orientation
As with any
credit application, you need to ensure that yours is squeaky clean. Don’t
short-change any detail (even those that seem unimportant or redundant).
Prepare in advance by checking your credit record with all three major bureaus
to ensure there are no damaging inaccuracies. Curing them can take time, so
starting early pays off. New City Luxury Homes Need Luxury Financing
Right-Sized
Deposit
The larger
your deposit, the greater the odds of approval when financing luxury homes in New
City. It stands to reason. The more you can contribute above the standard
deposit rate, the clearer your message: this loan will constitute less
risk. New City Luxury Homes Need Luxury
Financing
Shop Around
for Good Rates
The
constrained market for jumbo loan resale is one of the reasons rates are
somewhat higher than those more commonly available, so keeping a shopper’s
mentality is a good idea. When financing luxury New City homes, keeping the
rate as low as possible is only prudent. Aim to obtain good faith estimates
from a few lenders to find see who is currently offering the best deal. New
City Luxury Homes Need Luxury Financing
With luxury
home prices on the rise in many areas, if you’re considering buying or selling
one this season, it’s worth remembering that financing luxury homes can be the
most challenging part of the process. I
furnish top-notch referrals when needed. I’m here not only to help you find the
home of your dreams -- but also to help make it yours. Call me, Marcella, 845 544 4026 or email me
at riggsmarcella@gmail.com or click here to check out some listings at marcellariggs.com
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