Inquire with a loan consultant about jumbo financing in expensive neighborhoods in NYC such as SoHo, Tribeca, Midtown, Chelsea, Boerum Hill, Flatiron district, as well as Ossining, Northport on Long Island, Long Beach, Somers, New Rochelle, Yorktown Heights, Setauket, Brooklyn, Dix Hills and Manorville to secure financing for these neighborhoods with home values that average have a starting price tag of $778,000.
Loan amount and terms of 5, 7 & 10 Year Jumbo ARMs are available as well as 30-year and 15-year program. Rates and terms may vary from lender to lender.
2016 Maximum Conforming Loan Limits for high cost areas in the Empire State are:
Bronx, New York, Queens, Westchester, Kings, Nassau, and other high cost Counties
1 Unit - $625,500
2 Unit - $800,775
3 Unit - $967,950
4 Unit - $1,202,925
Once again multi-million dollar financing is available for luxury homes and magnificent estates in New York:
Many can be found in this article from the Business Insider that have median sales prices of $2 million