When you finance your new home through Manhattan Mortgage you can be assured you will get the lowest rate possible without any of the gimmicks that other brokers use to attract their borrowers. Occasionally, you may find rates advertised that appear lower than the rates we offer, but don't let first impressions fool you. The rates that lenders and mortgage brokers advertise can be misleading. By law, lenders must disclose their annual percentage rates (APRs) in their ads.

However, APRs alone do not tell the story, because in order to enhance the appearance of their printed rates, lenders often presuppose an imaginary borrower who prepays two or three points at closing, effectively trimming the top 1/2% to 3/4% from the rate. (The rule of thumb is that each point prepaid at closing "buys down" the interest rate by 1/4%.)

Regrettably, the law doesn't require lenders to state the number of prepaid points associated with each rate. The rate in the ad is accurate, but only tells part of the story. When you are ready to see today's best rates for the NY Metro Area, simply select the type of property you will be financing and enter an estimated cost of the property. You will receive a table that displays the most common loans you may qualify for, as well as full disclosure of points paid and APR.

Rates, points, and products are subject to change at any time without notice.

• Insider tips for winning the NYC real estate game in 2012 (brickunderground – Jan. 9, 2012)

• Mortgage Market Molasses (The Real Deal – Dec. 29, 2011)

• How to make or break your appraisal (BrickUndergroundNY – Oct. 25, 2011)

• “Fed struggles to impact U.S. economy” (BBC World News TV – Sept. 21, 2011)

• New York Exceptionalism (New York Magazine – Sept. 18, 2011)

• Combine and Conquer: Your Place and Mine (The New York Times – Sept. 9, 2011)

• Housing’s Next Leg Down (CNBC.com – August 4, 2011)

• Lenders In Search Of Qualified Borrowers! (Hamptons.com – Summer 2011)

• NY real estate pros fear interest spike in debt ceiling fight (The Real Deal – July 28, 2011)

• The Appeal of Adjustable Rates (The New York Times - July 14, 2011)

• A Guide for the Co-op Neophyte (The New York Times - May 26, 2011)

• Melissa Cohn quoted in "New Home Sales Build Up" (PBS - May 24, 2011)

• If U.S. loses triple-A, its citizens will pay (Reuters - April 19, 2011)

• Broker Fee Rules Take Effect (The New York Times - April 14, 2011)

• Getting a Mortgage Before the Door Shuts (The Wall Street Journal - February 25, 2011)

• Calculating the Annual Percentage Rate (The New York Times - February 10, 2011)

• Hey, big lender! (New York Post - January 13, 2011)