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NYC > Q&A > mortgage

mortgage

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I’ve received an offer from a prospective buyer to purchase my apartment and the terms require that I accept a mortgage contingency. Should I agree to this? Why or why not?

What is the difference between a mortgage contingency and a funding contingency?

What is a mortgage contingency and why would I want one when purchasing an apartment?

What information and paperwork do I need to provide to obtain a mortgage pre-approval letter from a lender?

What is the difference between being pre-qualified and pre-approved for a mortgage loan? Which is better?

What are the different types of mortgages available and which is right for me?

What is the difference between a fixed-rate mortgage and adjustable-rate mortgage (ARM)? Which is better for me?

What is the difference between a mortgage interest rate and APR (annual percentage rate)?

What are typical down payment percentage requirements for co-ops and condos? Do they tend to differ?

What is an adjustable-rate mortgage (ARM)?

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