New York City

Home Mortgage

The Current Lender Offering The Lowest Interest Rates On New York City Home Mortgages.

Searching for a New York City home mortgage? Concerned about the lending climate in this period of real estate and subprime chaos? If so, we can help. While getting approved for a New York City home mortgage is not as easy as it was two years ago, it is not as difficult as all the doom and gloom stories in the media portray it to be.

Best Lender For New York City Home Mortgages

When looking for a New York City home mortgage lender, it is important to find a lender that not only offers the lowest rates, but also has not significantly tightened lending standards to the degree that only a very small percentage of applicants will qualify. Holding first place on our list of New York City home mortgage lenders right now is ING DIRECT New York City Home Mortgage. They have the lowest rates, a free and easy online application, and they have not been severely hurt by the subprime mortgage crisis.  They are still approving the majority of applications for New York City home mortgages. Besides offering the lowest rates and highest ratio of approved loans, in most instances they will approve your online application in under 3 minutes. No other lender offering New York City home mortgages will approve applications in such a rapid manner.

New York City Statistics & Related Info

New York City Information

New York City is the largest city in the United States, with its metropolitan area ranking among the largest urban areas in the world. Founded as a commercial trading post by the Dutch in 1624, it served as the capital of the United States from 1785 until 1790, and has been the nation's largest city since 1790. Located on a natural harbor, New York exerts global influence in commerce and finance as well as arts and entertainment. The city is an important center for international affairs, hosting the headquarters of the United Nations.

This popularity of New York City was one of the contributing factors to driving up the price of New York City real estate in the past decade. While prices have fallen some, homes in New York City are still quite pricey. The Housing Bill passed by Congress and signed into law by the President in the summer of 2008 granted the authority to Fannie Mae and Freddie Mac to buy pricier mortgages, up to $625,000, which would make stable New York City home mortgages readily available to buyers in a more expensive market like the suburbs of New York City.

New York City is a global hub of international business and commerce and is one of three "command centers" for the world economy (along with London and Tokyo). The city is a major center for finance, insurance, real estate, media and the arts in the United States. The New York metropolitan area had an estimated gross metropolitan product of $952.6 billion in 2005, the largest regional economy in the United States and second largest city economy in the world. The metropolitan area's economy accounts for the majority of the economic activity in the states of New York and New Jersey. Many major corporations are headquartered in New York City, including 44 Fortune 500 companies. Of course these factors along with many others contribute to the popularity of New York City real estate, which in turn, creates a very large demand for New York City home mortgages.

Midtown Manhattan is the largest central business district in the United States and is home to the highest concentration of the city's skyscrapers. Lower Manhattan is the third largest central business district in the United States, and is home to The New York Stock Exchange, located on Wall Street, and the NASDAQ, representing the world's first and second largest stock exchanges, respectively, when measured by average daily trading volume and overall market capitalization. Financial services account for more than 35% of the city's employment income. Real estate is a major force in the city's economy, as the total value of all New York City property was $802.4 billion in 2006. The Time Warner Center is the property with the highest-listed market value in the city, at $1.1 billion in 2006. This economic vibrancy translates into a high degree of availability of funds for New York City home mortgages.