The cost of New York City living is higher than ever and if you have visions of a Park Avenue pad, but the reality of a Mayberry paycheck, a low mortgage rate in New York could finance your home purchase. Don’t think that the entire state is out of your price range, as there are more reasonably priced properties throughout the boroughs. Consider purchasing in Harlem, Brooklyn or Queens, all a quick subway ride to the heart of the city.
Regardless of choosing a grand pre-war in Forest Hills Queens, a house made of “ticky-tacky” in Levittown Long Island or a luxury Co-op on Manhattan’s prestigious Upper East Side a solid New York home equity loan rate is a must.