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    A Look at Different Types of Mortgages

    Last updated 5 days ago

    Knowing your financing options can mean the difference between buying a home you love or missing your opportunity. Multiple Listing Service Of Long Island, Inc. wants you to get the best mortgage for your needs. Use this guide to learn more about the different kinds of mortgages:

    Fixed-Rate Mortgage

    No matter what happens in the market during the time of your loan, your interest rate will always be the same when you opt for a fixed-rate mortgage. This is good if interest rates or on the rise, but you might get stuck paying more interest than other homeowners if the rates fall.

    Adjustable Rate Mortgage

    This mortgage sticks more closely to the market. Although they usually start out with lower interest rates than the Fixed-Rate options, you might end up paying more or less interest throughout the life of the loan, depending on the economy. It is common for interest rates in Adjustable Rate Mortgages to fluctuate over time.

    Federal Housing Administration Loan

    If you do not qualify for another kind of loan, you might be able to get a Federal Housing Administration (FHA) loan that only requires a low down payment. Although this loan offers a new option to people who might not qualify for another kind, it might be more limited than the Fixed-Rate Mortgage or the Adjustable-Rate Mortgage options.

    Veteran’s Administration Loan

    Eligible veterans, active military, and surviving spouses can apply for a VA loan that have super competitive interest rates and often do not require any form of down payment. Like the FHA loans, the VA loan might have a size limit.

    The real estate experts at Multiple Listing Service of Long Island, Inc. can help you find the mortgage that works for you. We give you access to helpful resources and listings for rental properties, open houses, and commercial real estate throughout Long Island, Queens, and Brooklyn. Visit us today at MLSLI.com to learn more. 

    Tips for Choosing a New Neighborhood

    Last updated 12 days ago

    The first step to finding a new home is to explore neighborhoods that appeal to you. The neighborhood in which you live can impact the way you feel about your home. Whether you are looking for homes for sale or rental properties, use the following tips to choose a new neighborhood that meets all of your expectations:

    Think About What You Want

    Create a list of what you want in a neighborhood before you even start to browse the open houses to narrow down your search. If you know that you want to live near a gym, for example, you can focus your search on neighborhoods with nearby fitness centers. Separate your list to distinguish the features that you absolutely have to have from the ones that you can do without.

    Factor in Your Commute

    Where you live will affect how long it takes you to get to work. Figure out how certain neighborhoods will change your morning routine and if they will add time to your trip home when you are done for the day. If you do not like the idea of spending hours in the car or on the train, you should look for a neighborhood that is closer to your office.

    Explore Potential Neighborhoods

    Just because an area looks nice on paper does not mean it will actually have what you want. Spend some time exploring different neighborhoods so you can get a feel for which ones you actually really like. This will make it much easier to decide on an area in which you want to live.

    When it comes to real estate on Long Island and in Queens and Brooklyn, no one does it better than Multiple Listing Service of Long Island, Inc. We have a computerized network that shows you all of the properties for sale and rent in the area so you can find your new home. To learn more about our services, visit us on MLSLI.com.

    Cutting the Clutter Before You Move

    Last updated 20 days ago

    Once you find an ideal property to rent or buy, you should start clearing out the clutter from your current residence. Taking the time to get rid of clutter simplifies the entire process of packing.

    Start with items that you do not use often. As you take it out of the closet, decide whether or not you really want to bring it to the new home. Set up a packing station for the items that you want to take. For more great tips, check out this video.

    Take advantage of the network of real estate listings available from Multiple Listing Service of Long Island, Inc. on MLSLI.com to find your new home. With more than 2,350 cooperating real estate offices, we make it easy to find a place you love.

    Open House Weekend is April 5th & 6th!

    Last updated 27 days ago

    Our 5th Annual Long Island Board of Realtors, Inc. Open House Weekend is right around the corner. Join us April 5th & 6th! Head to our website for more information: http://www.lirealtor.com/ohw

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    Neighborhood Profile: Park Slope, Brooklyn

    Last updated 29 days ago

    Park Slope is considered one of the most livable neighborhoods in New York. As far as New York neighborhoods go, it is one of the most affordable and versatile. Keep reading to learn more about the benefits of moving to this up-and-coming area of Brooklyn:

    Park Slope is a family-friend neighborhood that has great schools and a low crime rate. As the name suggests, there are plenty of parks to explore. You can also find great restaurants and bars, as well as plenty of shopping. Park Slope offers the feeling of Manhattan but the prices of Brooklyn.

    No matter where you want to live in New York, Multiple Listing Services of Long Island, Inc. can help you find out. Visit MLSLI.com to find a real estate agent or browse through thousands of property listings. Our easy-to-use site makes it easy to find your next new home. Before you know it, you will be living in a property that you love. 

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