Lindenhurst NY Buyer Financing Profiles - Which Mortgage Product Is The Winner?
People are surprised when I talk with them about the Lindenhurst NY real estate market. I tell them it's good. Homes are selling and buyers are buying. I have yet to come across a buyer that cannot get a mortgage. You are watching national news about real estate on tv. Real estate is local.
If you have good income, great credit score and longevity at your job, you can get a mortgage. Always consult with your mortgage broker. They are your best source and will help you decide what mortgage product(s) are best for you.
Below is a chart for buyer financing and what type of mortgages buyers qualified for in 2009:
106 buyers received conventional mortgages to buy their Lindenhurst NY homes.
31 buyers received FHA mortgages.
20 buyers paid cash.
1 buyer received a VA mortgage.
Below is a chart for buyer financing and what type of mortgages buyers qualified for in 2010:
More buyers received mortgages in 2010 than in 2009. This could be partly due to the Home Buyer Tax Credit that expired on June 30th, 2010.
Below is a chart for buyer financing and what type of mortgages buyers qualified for in 2011 thus far:
We have three more months before 2011 ends so it's going to be interesting to see the end results for 2011 compared to the last 2 years.
The chart below shows the Lindenhurst NY buyer financing profiles by price point, cash, FHA mortgage and Conventional mortgage:
There may not be a lot of cash buyers but they are out there. Notice that in the $500K price point there is not a lot of selling activity. That is because unless your home is a pristine bay-front property or new construction, homes are not selling in Lindenhurst NY in the $500K price point.
Call me today (631) 703-0201 if you are selling and/or buying a home in Lindenhurst NY. Selling and buying a home isn't difficult when you are being represented by me!
***All data in my charts are provided by the Multiple Listing Service of Long Island***
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Email: JackieC@century21aa.com
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