| New York commercial mortgage brokers are brokers | | | | approximately 30% of all housing in New York being |
| who deal in commercial properties in and around New | | | | commercial in nature. Commercial mortgage brokers in |
| York. Commercial mortgage brokers in New York can | | | | New York offer a variety of mortgage plans that |
| be found throughout the state. | | | | can broadly be divided into two categories - |
| New York real estate prices are some of the highest | | | | traditional mortgages and blanket mortgages. A |
| in the world and buying a piece of property, | | | | blanket mortgage is a commercial loan that creates a |
| irrespective of whether it is to be used for residential | | | | lien on multiple pieces of real estate that acts as |
| or commercial purposes, is often one of the biggest | | | | security for the same mortgage. Many people tend |
| financial commitments that people make in their | | | | to confuse blanket mortgages with bridge loans -- |
| entire lives. Commercial property in New York is so | | | | when, in fact, they are entirely different. |
| expensive that many people experience a sticker | | | | A blanket mortgage is a plan offered by commercial |
| shock at the prices, which only worsens when they | | | | mortgage brokers in New York that is traditionally |
| calculate the payments they'll have to make for the | | | | applied to commercial development transactions, |
| life of the mortgage. This is one of the reasons why | | | | where the investors intend to develop the real |
| being a commercial mortgage broker in New York is | | | | estate into multiple properties. However, many |
| a lucrative business. | | | | commercial mortgage brokers actually hesitate to |
| Due to the sheer cost of developing a piece of | | | | approve blanket mortgages, since their complex |
| commercial real estate in New York, many | | | | nature makes it very hard to re-sell the loan in the |
| developers prefer to invest in co-operative and | | | | secondary market as a mortgage-backed security or |
| condominium housing. This has resulted in | | | | bond. |