54 Featured Properties Available In Long Island City

Pre-qualification is a quick estimate based on what you tell a lender, while pre-approval is a verified review of your income, credit, and assets showing how much you can actually borrow.

Higher credit scores qualify you for lower interest rates, which means lower monthly payments and less interest paid over time.

Closing costs are lender, title, and government fees, typically totaling about 3%–5% of the loan amount on Condos ,Multifamily and SIngle Family Homes in NY and 2% to 3% on Co-op units.

Most transactions take about 50 to 90 days from offer to closing, depending on financing and inspections. Cash purchases can close in as little as 21–40 days

Yes — lenders typically use your last two years of tax returns and bank statements to verify income.

Your payment usually includes principal, interest, property taxes, homeowners insurance, and HOA fees (if applicable).

A 2-1 buydown is a way to temporarily lower a buyer’s mortgage interest rate for the first two years to make payments more affordable.

Here’s how it works, simply:

Year 1: Rate is 2% lower than the loan’s actual rate
Year 2: Rate is 1% lower
Year 3+: The loan goes back to the full rate

Typically, the buyer pays for a 2-1 buydown to the lender, but in some cases you can negotiate for the seller to cover it as part of your offer