CHEMUNG COUNTY, NY (WETM) – This pandemic has brought many negative results, but there are some positive opportunities that have emerged from it.
Due to everything that is happening with the pandemic and the economy, mortgage rates are at record lows. So now is a good time to get a mortgage if you are at that point in your life, but there is a lot of competition to buy homes, especially when people move out of big cities.
According to a recent study by New York fintech company SmartAsset, Chemung County was ranked among the best places in New York to get a mortgage. Here’s why, “They were ranked 13th in the state for loan financing rate. And essentially, that’s the percentage of mortgage and accounting applications that get approved. They also ranked first in the state for most affordable loan costs. So the combination of these factors brought Chemung County into the top 10, ”says Mark LoCastro, a spokesperson for SmartAsset.
This was the sixth annual study and compared the probability of mortgage approval in each county, mortgage rates, average five-year loan costs, and property taxes to determine the best places to get a mortgage.
For the full report, click here.
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