Affinity Mortgage Lending Program
There are three lenders in the program: Freedom Mortgage, US Bank, and Wells Fargo. While Columbia does not specifically endorse these lenders, all three are familiar with the complexities of faculty salaries, royalties, etc. with regard to obtaining a mortgage.
The program was instituted in 2006, and participating lenders are selected periodically through an extensive vetting process conducted by a committee that consists of senior administrators in Arts & Sciences, Business School, Law School, Finance, General Counsel, Human Resources, and the Office of the Provost.
We recommend that you thoroughly research all of your options prior to making a decision.
Contact: Morris Cohen
623 5th Avenue, 24th Floor
New York, NY 10022
Secondary Contact: Mark Maimon
NMLS #: 3550
Participants of the Columbia University Affinity Lending Program will be eligible to have their application, commitment, processing, underwriting and document preparation fees waived on all loans funded by Freedom Mortgage. Applicants must apply through Morris Cohen and the Mark Maimon Team at Freedom Mortgage to be eligible for this benefit.
Contact: Sean McPartland
Vice President-Residential Mortgage Lending
230 Park Avenue, 3rd Fl.
New York, NY 10169
Cell: (646) 957-7828
Secondary Contact: Madison Lawson
Cell: (339) 933-3790
Columbia University Faculty, Staff and Alumni will be eligible to receive preferred interest rates as well as a $1,000 lender credit to be used towards closing costs. Applicants must apply through the McPartland Team at U.S. Bank to receive this benefit.
Contact: David Kossow
NMLSR ID 429833
PMB Sales Supervisor
150 E 42nd St
New York, NY 10017
Your credit history will be checked by lenders when you are pre-approved for a mortgage, when you apply for a mortgage, and right before closing. You can check your credit every year on www.myfico.com or www.annualcreditreport.com. Both pull credit from all three agencies – Trans Union, Equifax and Experian.
Following are some city, state and federal organizations that offer home buying programs and services, including programs for first-time home buyers.
- Consumer Financial Protection Bureau
- HomeFirst Down Payment Assistance
- HUD, Good Neighbor Program
- HUD, Types of loans (FHA-low down payment; senior citizens; renovation and energy efficiency loan (203K)
- Fannie Mae
- Freddie Mac
- NYC Department of Housing Preservation & Development (HPD)
- New York State Mortgage Assistance Program
- State of NY Mortgage Agency (SONYMA)
- U.S. Department of Housing & Urban Development (HUD)
- Veteran’s Administration (VA)
- Zillow offers three types of calculators – a mortgage calculator, a refinance calculator and an affordability calculator.
- On Malvern National Bank’s website, there are several types of mortgage calculators available -- a bi-weekly calculator, adjustable rate mortgage calculator, mortgage loan calculator, mortgage comparison: 15 years vs. 30 years, mortgage qualifier, and a refinance breakeven.
- Bank Rate offers 71 types of mortgage calculators -- from fixed rate through remodeling calculators.
There are several websites which list foreclosed properties and properties being offered at auction.
- Adjustable Rate (ARMS)
- Conventional Loans
- FHA Loans (3.5% Down)
- Fixed Rate Loans
- Jumbo Loans
- Renovation Loans
This content is provided for informational purposes only.
Listing of the websites above does not constitute a recommendation of these websites nor is the accuracy of the information listed in these websites verified by the Office of Work/Life.
Columbia University does not assume any responsibility in connection with any of these websites, and recommends that any information listed therein be independently verified.