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2nd home mortgage

Started by bmwbmw
about 11 years ago
Posts: 25
Member since: Oct 2007
Discussion about
Are there any good recommendations for mortgage firms that know the Hamptons market well? Looking to purchase a 2nd home in the $2 mm range, 50% LTV, but want someone who knows the appraisal and underwriting there inside out. Have had too many experiences in the Manhattan market with underwriters that have no clue on the situation here. Thanks for any info in advance.
Response by FreebirdNYC
about 11 years ago
Posts: 337
Member since: Jun 2007

First Republic did our mortgage - very competitive rates and great service even if not Hamptons based. Underwriters care more about your income than the market you're buying in and the appraisers are all local (and you can't really pick who they use), but at 50% LTV your underwriting and appraisal shouldn't matter much anyway.

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