Navigating Mortgages in New York City with Adam Turkewitz – The Relocation Rundown
Navigating the mortgage process in New York can feel overwhelming — but it doesn’t have to be. On this week’s Relocation Rundown, Aaron and Geoff sit down with mortgage expert Adam Turkewitz to break down everything buyers need to know, from preparing your credit to understanding loan options, navigating self-employment hurdles, and uncovering unique financing programs available only in NYC.
Buying a home in New York City is unlike buying anywhere else — and when it comes to securing a mortgage, the process can be even more complex. On this week’s episode of The Relocation Rundown, we sit down with mortgage expert Adam Turkewitz to demystify the lending landscape and uncover what today’s buyers really need to know before applying for a loan.
From credit considerations to loan types and alternative financing options, Adam breaks down the biggest misconceptions about mortgages — especially for unconventional buyers like the self-employed — and shares practical strategies to make yourself a stronger borrower in a highly competitive market.
Whether you’re purchasing your first co-op or trading up to a Brooklyn brownstone, this episode is packed with insider guidance to help you navigate the numbers with confidence.
What You Need to Know About Getting a Mortgage in NYC
Here are some of the top takeaways from our conversation with Adam:
Mortgages Aren’t One-Size-Fits-All
While the mortgage industry has become increasingly commoditized, Adam explains that not every borrower fits into a clean box. Unique financial profiles — especially freelancers, business owners, or buyers with complex income — require a more customized approach.
NYC Comes with Sticker Shock
Between higher closing costs, co-op requirements, and strict building rules, many buyers are surprised by how different financing is in New York compared to other markets.
Start Preparing 90 Days Before You Apply
Your mortgage journey shouldn’t start with the application — it should start months earlier. Cleaning up credit, stabilizing income, and avoiding big financial shifts can be the difference between approval and rejection.
Self-Employed? You Have Options
Instead of relying solely on tax returns, alternative income documentation — like bank statements or CPA letters — can open up additional loan products for entrepreneurs and freelancers.
Not All Loans Are Created Equal
Understanding the difference between conforming loans, jumbo financing, and credit overlays can save buyers thousands. Adam stresses the importance of comparing structure and flexibility, not just interest rates.
Rates Depend on More Than Just the Market
Your credit score, loan type, and intended length of ownership all influence what rate makes the most sense. Sometimes, paying points or choosing an adjustable-rate mortgage can be the smarter move — depending on strategy.
NYC Has Unique Programs for Unique Buyers
From first-time buyer incentives to niche programs for certain professions, Adam highlights that there’s often more available than buyers realize — if they ask the right questions.
The Bottom Line
Securing a mortgage in New York isn’t just about finding the lowest rate — it’s about choosing the right strategy for your financial future. As Adam puts it, the most successful buyers are the most proactive. With preparation, transparency, and a knowledgeable lending partner, even the most complex borrower can find a path to homeownership.
Catch the full conversation with Adam Turkewitz on The Relocation Rundown to hear real-world scenarios, money-saving tips, and the mortgage myths every New York buyer should stop believing.
