Watch This Free Brownstoner Webinar Video for NYC Home Buying Tips Amid Rising Rates

The free Brownstoner webinar “Tips on Home Buying in NYC” on Thursday, October 20 featured a wide-ranging conversation about the current housing market, interest rates, and how viewers can get started on the New York City real estate ladder.

Watch it here:

The webinar, part of the Brownstoner Home Event Series, features Brian Scott Cohen, a senior loan originator at GR Affinity, and Gary Malin, chief operating officer at The Corcoran Group.

When asked about the current market, Gary Malin said: “I think a lot of people psychologically thought that we fell off a cliff. But the market goes through cycles. The cycle that we’re in right now is prices are high, demand is low, and in order to fix that, prices have to come down to get buyers back into the marketplace. So I think you’ll see that. We’re already seeing more negotiability in the market.”

Brian Scott Cohen described several down payment options at less than 20 percent, including loans with low interest rates: “There are a lot of options and we’re seeing it more now than ever,” he said. “There are 5 percent programs, government-backed loans, VA loans, FHA loans at 3.5 percent. It’s just co-ops that require 20 percent down as a rule. Otherwise there are plenty of products for less of a down payment.”

Both Malin and Cohen agreed that when entering the housing market, your specific needs and timing are the most important things.

Sponsors included GR Affinity and Corcoran.

To learn about sponsorship opportunities for Brownstoner Home Events, please get in touch here.

[Photos via Unsplash]

Operating in the state of New York as GR Affinity, LLC in lieu of the legal name Guaranteed Rate Affinity, LLC

GR Affinity NMLS: 1598647, Brian Scott Cohen NMLS: 410025 [348 West 14th Street, Floor 2 New York, NY 10014] Equal Housing Lender. For licensing, go to www.nmlsconsumeraccess.org.