Vivid Mortgages, Inc. is a registered New York mortgage broker with its office in Queens, at 211-35 Jamaica Ave, 1st Floor, Queens Village, NY 11428. We arrange purchase and refinance loans for Queens homes through third-party wholesale lenders. Vivid Mortgages is a mortgage broker, not a lender: we compare the loan programs those lenders offer, help you choose one and manage your file from pre-qualification through closing. Company NMLS #1279925.
The office sits in southeast Queens, close to Queens Village, Jamaica, Hollis, St. Albans, Cambria Heights, Laurelton, Rosedale and Springfield Gardens, and to Bellerose and Floral Park along the Nassau County line. Many Queens homes are one- and two-family houses and attached rowhouses, and the borough has condominiums as well. Some buyers purchase a two-family home to live in one unit and rent out the other. Conventional and FHA programs both finance an owner-occupied two-family home, and a lender may count part of the expected rent from the second unit toward qualifying, under each program's own rules. Tell us early if you are looking at a two-family house, so the programs we compare fit the property.
Parts of southern Queens are low-lying, and buyers looking in areas such as Rosedale and Howard Beach should check flood risk before making an offer. Look the address up on the FEMA Flood Map Service Center. If the home is in a Special Flood Hazard Area, expect the lender to require flood insurance. Ask an insurance agent for a flood quote early, because the premium becomes part of the monthly housing cost a lender uses to qualify you, and it can change how much home fits your budget.
Queens deed and mortgage records are public on ACRIS, the Automated City Register Information System that New York City's Department of Finance maintains. Before you buy, you or your attorney can look up the deeds, mortgages and other documents recorded against a property there. If you already own in Queens and plan to refinance, ask about a CEMA, a Consolidation, Extension and Modification Agreement. Instead of paying off the old mortgage, the existing mortgage is assigned to the new lender and consolidated with the new loan, which can reduce the New York mortgage recording tax on the refinance, because the tax then applies to the new money rather than the full balance. Not every lender or loan program allows one, and your current lender has to cooperate. Our CEMA refinance guide explains how it works.
The loan programs we arrange for Queens borrowers include conventional, FHA and VA loans, jumbo loans, renovation financing, bank statement loans for the self-employed, HELOCs and investment property mortgages; which one fits depends on your credit, your savings and the property. Call our Queens Village office at 718-942-7000, call toll-free at 800-880-8557, or request a quote online to get pre-qualified. All mortgage loans are arranged with third-party wholesale lenders.
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Get pre-qualified online, or call and a broker will walk you through your options. No obligation, and pre-qualifying does not affect your credit score.
