Michael Savino, Chief Lending Officer at Municipal Credit Union (MCU), discusses the realities of today’s New York City housing market. As buyers face rising home prices, limited inventory, affordability concerns, and ongoing down payment challenges, Michael shares his perspective on current market conditions and what prospective homeowners should know before making a move.
Savino explains the advantages of working with a local mortgage lender, what truly sets great lenders apart beyond interest rates, and how personalized guidance can make a difference throughout the buying process. For current homeowners, Michael discusses whether now is an advantageous time to tap into home equity, what borrowers should consider before taking out a home equity loan, and what lower home equity rates mean today.
Savino highlights how MCU supports members through competitive rates, local expertise, specialized lending programs, first-time homebuyer assistance, and low down payment options designed to help New Yorkers. Learn more about MCU and their offers here.