October 15, 2025 West Babylon South

South Bay's Neighbor

PUBLISHED BY LONG ISLAND MEDIA GROUP

BEAUTIFUL FALL ARRANGEMENTS

ALL THINGS REAL ESTATE

“If you can’t feed a hundred people, then feed just one.” – Mother Teresa

Sometimes life can become overwhelming. There are so many people who need help, but where do we even begin?

When I think about ways to show my gratitude and helping others, I think about the quote from Mother Teresa. I might not be able to feed every adult and child who is hungry today, but with your help, we can help feed some of them.

We can create a ripple effect. Someone in the next town will see what we are doing, and they will start their own food or clothing drive…and then someone in the next town, and the town after that. Pretty soon, millions of people who needed support during a tough time in their lives will nd it. Hopefully, they can pay it forward when they have the means to do so.

Gratitude causes ripples, and ripples cause change. Let’s create some ripples this month for people who can use our help. Here are the details:

What: Thanksgiving Food Drive for St Vincent de Paul food pantry

Where: Our Lady of Perpetual Help Lindenhurst.

When: The month of October. All donations must be in by Saturday, November 1st

More: We will collect nonperishable items for Thanksgiving dinners at JoAnn Cilla Real Estate, 203 E Montauk Hwy Lindenhurst NY 11757 on the following days:

• Mondays 3pm-5pm

• Wednesdays 12pm-2pm

• Fridays 11am-1pm

• Saturdays 10am-1pm

If you can’t drop off at these times or need us to pick up your donation, please call me at 631-539-6000. I am grateful for your help, JoAnn.

Licensed Real Estate Broker

203 E. Montauk Hwy. Lindenhurst, NY 11757

Office: 631-539-6000

Cell: 516-429-1911

joann@joanncillarealestate.com www.joanncillarealestate.com

• Spaghetti • Rigatoni

• Stuffed Shells (16 pc)

COURSE (Choose one)

Entree:

• Chicken Marsala

• Chicken Francese

• Eggplant Parmigiana

• Chicken Parmigiana

• Shrimp Oreganata +$15

• Manicotti (8 pc)

• Jumbo Cheese Ravioli (16 pc)

• Sausage & Peppers

• Chicken with Sundried Tomatoes & Broccoli

• Eggplant Rollatine

• Shrimp Parmigiana +$15

• Meatballs

• USDA Prime Hanger Steak w/ Peppers, Onions & Mushrooms Additional Charge

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Tomato & Basil

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Thephrase “bigger is better” has endured for quite some time. Though it may be impossible to pinpoint precisely who coined the phrase, its lesson that larger things tend to be more valuable than smaller alternatives is applicable in numerous situations. No adage applies to every situation, and in some instances, people may find that bigger is not better.

Downsizing is an approach many individuals consider after turning 50. Parents who are empty nesters and others nearing retirement may wonder if the time is right to downsize from their current homes. Though that’s a strategy millions of people have

adopted over time, the decision is not always so simple. Individuals over 50 who are trying to determine if downsizing is right for them can consider a host of factors before making a decision.

• Monthly housing expenses: Before downsizing their homes, individuals should determine just how much they’re currently spending on housing. Individuals who have fixed-rate mortgages likely know the amount of their monthly mortgage payment, but what about maintenance?

Home maintenance expenses fluctuate, but a careful examination of the previous 12

How To Determine If The Time Is Right To Downsize

months’ expenditures can give homeowners an idea of just how much they’re spending to maintain their properties. The number may be eye-opening, as Thumbtack’s “Home Care Price Index” released in the third quarter of 2024 revealed that the average annual cost to maintain a single-family home reached an alltime high of $10,433. If such expenses are preventing

homeowners from building their retirement nest eggs, then it might be time to seek alternative housing.

• Real estate prices: Real estate prices have skyrocketed in recent years, which can be both good and bad for current homeowners considering downsizing. Many people who downsize look to move from a single-family home into a condominium, where

maintenance tasks are typically handled by a homeowners’ association (HOA). Such communities typically charge HOA fees, which can be minimal or considerable. In addition, the price of condominiums has risen in recent years, with the lender New American Funding reporting in early 2024 that the median sale price of a condo reached $341,000.

So homeowners who want to downsize their homes may end up taking most of the profit from selling their current properties and reinvesting it in a costly condo. Some may deem that worthwhile, while others may

find the cost savings of downsizing in the current market are negligible.

• Emotional attachment: Downsizing may be considered with cost savings in mind, but it’s important to consider your emotional attachment to your current home. Many homeowners over 50 raised their families in their current homes, and letting go of a property where so many memories were made can be difficult. Homeowners who are not prepared to move on from properties that are meaningful to them and their families can consider additional ways to downsize their financial obligations.

Celebrating Italian American Heritage Month In The Town Of Babylon!

JOB OPPORTUNITY

Medical

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Position Details:

We are seeking dedicated Teaching Assistants to join our team. The ideal candidate will have a passion for working with children and supporting educators in a classroom setting.

Responsibilities:

• Assist the lead teacher in implementing lesson plans and activities

• Provide support to students with various tasks and assignments

• Supervise children during indoor and outdoor activities

• Help maintain a safe and clean learning environment

Requirements:

• High School Diploma or GED

• Ability to communicate positively, effectively, and appropriately with children

• Ability to use clear and understandable written and verbal communication

• Experience working with toddlers, preschoolers, or in a classroom setting is a plus!

• Teaching Assistant - Level Certi cate a plus!

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Job Type: Full-Time

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Work Location: In person For Bower Location - Call - 631-590-3144 and ask for Miriam For

Realestate has long been touted as a worthy long-term investment. With that conventional wisdom in mind, young adults often make buying a home one of their first bigticket purchases. Though real estate remains a potentially lucrative investment, the market for homes has been difficult to navigate for several years running.

High mortgage interest rates and low inventory have left many buyers feeling priced out of the real estate market. Others may find the competitive nature of the modern real estate market too stressful. No one can predict if or when the real estate market might be less

How To Navigate A Challenging Real Estate Market

challenging, but the following are some ways those looking for a house can navigate that process.

• Ready your finances. It goes without saying that prospective buyers must get their financial affairs in order before they begin shopping for a house. But finding a home in the current market takes time, and some buyers might have let their mortgage preapproval letter expire without realizing it. Others might have experienced a dip in their credit rating as they turned to credit cards to confront inflation. That means buyers who began looking for a home

months or even years ago might not be positioned to buy now, should they find a home to their liking. Revisit your finances if it’s been a while. Pay off any consumer debt that has accumulated in recent months and reapply for mortgage preapproval if necessary.

• Be ready to pounce. Data from the National Association of Realtors

found that the average home spent 32 days on the market before being sold in November of 2024, which was a full week longer than a year earlier. That’s good news for buyers, but it still means buyers must be ready to pounce if they find a home and a home price to their liking.

• Hire a real estate agent. The hectic pace

of the modern real estate market can be difficult for anyone to keep up with. But real estate agents keep up with the market for a living, and they can be invaluable resources for buyers whose commitments to work and family are making it difficult to keep pace.

• Emphasize long-term growth and value when assessing properties. According to Zillow, the median list price of homes in the United States was just under $387,000 by the end of January 2025. But buyers must also recognize that 22.4 percent of homes sold above list price in that month, according to a Redfin

analysis of MLS data and/or public records. Buying a home is more than an investment in a property. It’s also, in some way, an investment in the town where the home is located and in a homeowner’s future. So while it can be tempting to buy a home with the lowest asking price, homebuyers should also seek homes that figure to experience the best long-term growth in value. Homes situated in safe and welcoming towns with good schools are arguably a better investment than homes with lower sticker prices but no such amenities.

School Spirit Shines For West Babylon Homecoming

West Babylon High School’s 2025 homecoming brought students, staff and community members together to celebrate their school spirit, community pride and to cheer on the home team.

The homecoming parade was led by the Marching Eagles Band, with the cheerleading team and junior high football team following behind atop colorful floats. Staff and students from the district’s

elementary schools also joined the procession, filling the streets with cheers, smiles and school colors as the community showed their support.

Following the parade, fans gathered at Pape

Field to cheer on the Eagles football team as they faced the Newfield High School Wolverines. Throughout the game, the stands overflowed with enthusiastic fans who cheered during the

game and the entertaining halftime performance.

Desipte a hard-fought effort, the Eagles fell to their opponents with a final score of 7-28. The team showed determination and sportsmanship throughout

the game, earning the applause of an enthusiastic crowd.

Homecoming 2025 was a spectacular event from start to finish and another fond memory for all who participated.

is a dream for millions of people across the globe. The National Association of Realtors indicates real estate has historially exhibited long-term, stable growth in value. Money spent on rent is money that a person will never see again. However, paying a traditional mortgage every month enables homeowners to build equity and can be a means to securing one’s financial future.

Homeowners typically can lean on the value of their homes should they need money for improvement projects or other plans. Reverse mortgages are one way to do just that.

Common Questions About Reverse Mortgages

Who is eligible for a reverse mortgage?

People near retirement age are eligible for a specific type of loan they can borrow against. Known as a “reverse mortgage,” this type of loan can be great for people 62 or older who perhaps can no longer make payments on their home, or require a sum of money to use right now, without wanting to sell their home.

In addition to meeting the age requirement, a borrower must live at the property as a primary residence and certify occupancy annually to be eligible for a reverse mortgage. Also, the property must be maintained in the same condition as when the

reverse mortgage was obtained, says Fannie Mae.

How does a reverse mortgage work?

The Consumer Finance Protection Bureau says a reverse mortgage, commonly a Home Equity Conversion Mortgage, which is the most popular type of reverse mortgage loan, is different from a traditional mortgage. Instead of making monthly payments to bring down the amount owed on the loan, a reverse mortgage features no monthly payments. Rather, interest and fees are added to the loan balance each month and the balance grows. The loan is repaid when

the borrower no longer lives in the home.

What else should I know?

With a reverse mortgage, even though borrowers are not making monthly mortgage payments, they are still responsible for paying propertyrelated expenses on time, including, real estate and property taxes, insurance premiums, HOA fees, and utilities. Reverse mortgages also come with additional costs, including origination fees and mortgage insurance up to 2.5 percent of the home’s appraised value, says Forbes. It’s important to note that most interest rates on these loans are

variable, meaning they can rise over time and thus increase the cost of borrowing. In addition, unlike traditional mortgage payments, interest payments on reverse mortgages aren’t tax-deductible.

How is a reverse mortgage paid back?

A reverse mortgage is not free money. The homeowners or their heirs will eventually have to pay back the loan when the borrowers no longer live at the property. This is usually achieved by selling the home.

The CFPB notes if a reverse mortgage loan balance is less than the amount the home is sold for, then the borrower

keeps the difference. If the loan balance is more than the amount the home sells for at the appraised value, one can pay off the loan by selling the home for at least 95 percent of the home’s appraised value, known as the 95 percent rule. The money from the sale will go toward the outstanding loan balance and any remaining balance on the loan is paid for by mortgage insurance, which the borrower has been paying for the duration of the loan.

Reverse mortgages can be a consideration for older adults. However, it is essential to get all of the facts to make an informed decision.

FourLeaf Federal Credit Union recently announced that applications for its annual Scholarship Program are now open. High school seniors are invited to apply for financial assistance as they prepare for college. Designed to support hardworking, communityminded students, the program provides awards that can help offset the

rising costs of tuition, books, and other college expenses.

“Our scholarships are one way we can help ease the financial burden on families while encouraging students to pursue their dreams,” shared Kimberly Ruiz, Manager Community Engagement New Markets. “Each year, we proudly award 10

accomplished students, knowing that investing in young people is an investment in the future of our communities.” To apply, please visit; https://www.fourleaffcu. com/community/ education-scholarships/. The 2026 Scholarship Program application deadline date is Friday, January 9, 2026 (no late submissions are accepted).

OCTOBER HAPPENINGS

WEDNESDAY, OCT. 15th

7:00PM-9:00PM

THE DEVIL IN NEW YORKTHE WITCHCRAFT TRIAL OF GOODY GARLICK

The Historical Society of Islip Hamlet will host Tara Rider and her presentation "The Devil in New York - The Witchcraft Trial of Goody Garlick". The program will be held at the Islip Public Library, 71 Monell Ave. Free and open to the public. For more information on this, their 2026 Holiday House Tour or to become a member, visit www. isliphamlethistory.org, or call 631559-2915

FRIDAY, OCT. 17th

SATURDAY, OCT. 18th

6:00PM-9:00PM

SPOOKTACTULAR

Enjoy eerie animal presentations, a ghostly graveyard, creepy games, scary music, and spooky night trails. Great for ghouls 7 years and up. Food Truck refreshments available for purchase! 10/17 Box Car Burgers, 10/18 Krazy Knish. Sweetbriar Nature Center - ECSS, 62 Eckernkamp Drive in Smithtown. For more information, please call 631-979-6344

SATURDAY, OCT. 18th

9:00AM-5:00PM

PARROT EXPO

Sayville VFW POST 433 400 Lakeland Avenue in Sayville. Long Island’s only major exotic bird event boasts a full day of shopping, raffles, fun and education for pet bird lovers! For more information, please call 631-957-1100

HOLIDAYS

13th - COLUMBUS DAY

INDIGENOUS PEOPLES' DAY 31st - HALLOWEEN

MAKE A SUBMISSION! Events must be submitted at least two weeks prior to the event date and will run free of charge on a space available basis. For more information, please call 631.226.2636 x275 or send events to editorial@longislandmediagroup.com

10:00AM-3:00PM

ST. PATRICK’S CHURCH

THRIFT SHOP / YARD SALE

(Rain or Shine) Thrift Shop Special Event “Pack A Bag” ($5.00) many new items in all categories, Rent A Table - $25.00. 305 Carll’s Path in Deer Park. For more information, please call 631-242-7530

10:00AM-4:00PM

HARVEST CRAFT FESTIVAL & YARD SALE

Our Redeemer Lutheran Church, 2025 Washington Avenue in Seaford. Local craft vendors, Congregational Yard Sale, pumpkin patch, painting, mums for sale, raffles, music & much more. For more information, please call 516-781-6374, office@ ourredeemerlutheran.church

10:00AM-8:00PM

BLESSING OF THE ANIMALS

All are welcome! Grace United Methodist Church, 515 S. Wellwood Ave. in Lindenhurst. For more information, please call 631-2268690, gumc.lindy@gmail.com

2:00PM

HALLOWEEN FAMILY FUN DAY

The annual Halloween Family Fun Day held in Lindenshurst features face painting, games, hay rides, pony rides, hot cocoa and more. This event is co-chaired by the Village of Lindenhurst, Mayor's Beautification Society, Rotary Club of Lindenhurst, Lindenhurst Fire Department, and the Lindenhurst Moose Club. Rain date: October 19. For more information, please call 631-957-7500

7:00PM-11:00PM

HARVEST MOON DANCE

The Knights of Columbus #11968 will be holding a Harvest Moon Dance at Our Lady of Grace Church, Father Shanahan Hall located at 666 Albin Ave. in West Babylon. For more information, please call Rob 631-7470147 or Dave 631- 357-0188.

SUNDAY, OCT. 19th

1:00PM-5:00PM

WADE BURNS VFW 7279

PSYCHIC ENLIGHTENING

Admission: $55.00 includes Psychic Christopher Allen, light lunch, beer, wine, soda and cake. Wade Burns VFW 7279 560N. Delaware Ave. in Lindenhurst. For more information, please contact 631-965- 6459

FRIDAY, OCT. 24th

DOORS OPEN 6:00PM

BINGO STARTS 7:00PM WEST ISLIP FIRE DEPT LADIES AUX MUSIC BINGO FUND RAISER

West Islip Fire Dept. 309 Union Blvd West in Islip. Tickets $20 extra cards for sale, 50/50, Lotto board. Raffle baskets. for more information and for tickets, please call 516-318-530. Light food for purchase. Donate a non perishable item for a ticket to a special raffle

6:30PM-8:00PM

HAUNTED HIKES

Garden City Bird Sanctuary, 182 Tanners Pond Rd. in Garden City. Long Islands favorite family Haunted Hike is back. With both Scary and not so scary walks (on separate trails) a maze and some fun photo opportunities. For more information, please visit https:// thegcbs.org/gcbs-home

How To Boost Home Value Before Selling

People considering buying or selling a home are facing a unique market. The real estate market has been in flux for several years, and high interest rates have made it more expensive to borrow.

The Mortgage Bankers Association is projecting that 30-year mortgage rates will level out to 6.5 percent for the forseeable future. That means that people who have been waiting for changes in the real estate market could be disappointed, and hesitant buyers may finally just bite the bullet and buy even if mortgage rates are not where they hoped they’d be in 2025.

upgrading countertops and changing fixtures or hardware to give the room an overhaul.

Homeowners also should look to bathroom updates as smart investments that can improve home value.

Katie Severance, author of The Brilliant Home Buyer, characterizes kitchens and baths as “money rooms” that add the most value to a home.

Declutter the home

Homeowners should clean out items they no longer need.

with a lot of oomph. Freshly painted rooms appear clean and updated, says HGTV, and that can appeal to buyers. Homeowners should choose neutral colors to accommodate the widest array of potential buyers.

Improve the landscaping

The exterior of a home is the first thing potential buyers will see as they roll up to view a property or look at a listing online.

Saturday, November 8th

Homeowners with properties they are considering listing for sale would be wise to make certain changes that will help garner the best prices from buyers. Make kitchen and bath improvements The kitchen is the heart of many homes. Real estate agents may recommend that homeowners make minor to moderate kitchen upgrades like resurfacing cabinets,

Decluttering can make a space feel bigger, which is beneficial in a market where open concept floor plans remain popular among home buyers.

When buyers walk through a prospective home, they want to envision themselves living there, something that is more easily done if the home isn’t overrun with the current homeowner’s belongings.

Get to painting

Painting a home is a cost-effective renovation

Homeowners should start by evaluating and enhancing the landscaping. Ensure the lawn is well-maintained and add plants that provide color without a lot of maintenance.

Expand usable space

Homeowners can think about adding to the usable space in a home. This translates into finishing basements or attics or even converting garages to rooms. Or it may involve adding a threeseason room.

Homeowners can consider a number of improvements to increase the resale value of their properties.

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West Babylon Public Library

211 Route 109

West Babylon (631) 669-5445

www.wbpl.us

Nancy Evans, Director

HELLO FALL SIGN KIT

October 16-21

Shirley Ruby will instruct you virtually on how to make your own one-of-akind project. A YouTube Link will be provided by the Library. Non-refundable/ transferable materials fee: $5.

FRIDAY FLICKS

Movies begin at 1 pm Friday, October 17: Sleepy Hollow (R, 107 min)

GREAT GIVE BACK: LITTLE BAG OF KINDNESS

October 18

As part of the Great Give Back, patrons can come pick up their own little bag of happiness. Cheer up, smile, and be mindful. No registration necessary. Available at the adult reference desk ONLY. While supplies last. Adults only.

GREAT GIVE BACK 2025

Saturday, October 18, 11 am-2 pm

Join us for this year’s Great Give Back – a day of giving across NYS! Visit the library between the times above and help “give back” at different stations. All are welcome and teens can earn up to 3 hours of community service for participating. Can’t make it this day? All month long the library will be collecting donations Long Island Cares, Baxter’s Pet Pantry & the Crayon Initiative. Visit our website for more details.

CRICUT CRAFTING: DECORATIVE PILLOWS

Wednesday, October 20, 6 pm-8 pm Get crafty in your down time with these monthly kits for adults. Each kit comes with a small DIY craft to be completed at your leisure. Non-refundable/ transferable fee: $5

DIY: SANDERSON SISTER WALL HANG KIT

October 21-26

West Babylon Card holders only.

ENGLISH: BEGINNERS

Tuesday, October 21, 6:15-7:15 pm

Join us for this monthly class to help enhance your English language skills.

Shots for Tots

Wednesday, October 22, 11:00am–3:30pm

The Suffolk County Department of Health Services will be here to offer FREE shots to children who do not have health insurance coverage only and are up to 18 years old. Children are seen on a first come, first served basis. You must bring your child’s immunizations record with you to receive any shots. Please contact The Immunization Action Program at (631) 854-0222 for additional information. Advance registration is not required. COVID-19 vaccines are offered at this clinic to only those Suffolk County residents who are underinsured through the Vaccines for Children and Vaccines for Adults program. Residents who meet the qualifications may walk in.

LEARN HOW: CANVA POSTER PRINTING

Wednesday, October 22, 6:30 pm-8 pm

Learn how to set-up your own FREE Canva account, which will allow you to create different custom print materials. This class will cover setting up and using Canva then creating a poster to be printed after class to take home. Posters can be made for marketing purposes, communions, weddings, showers, graduations, photo collages, and more!  West Babylon Cardholders Only.

Casual Crafting Kit (October 23-28)

Get crafty in your down time with these monthly

kits for adults. Each kit comes with a small DIY craft to be completed at your leisure. West Babylon Card holders only.

LIBRARY GAME ZONE: BINGO

Thursday, October 23, 3-4 pm

Prepare for an afternoon of friendly competition and exciting prizes! Whether you’re a seasoned Bingo player or new to the game, this is a chance to enjoy an afternoon of fun with other community members. Join Librarian Phyllis for this fun-filled afternoon.

EMPIRE DEFENSIVE DRIVING

Saturday, October 25, 10 am-4 pm

Attend this class and you may be eligible for an auto premium discount and reduction of violation points. A $35 nonrefundable check or money order (NO CASH) payable to Empire Safety Council is due within 48 hours of signing up to keep your spot.

MEDICAID ENROLLMENT ASSISTANCE

Tuesday, October 28, 10 am-1:30 pm

Sign up is first-come, firstserved and free of charge. For more information, call the Nassau Suffolk Hospital Council at 631-435-3000.

PROTECTING ASSETS: SHOULD I PUT MY HOME IN A TRUST?

Tuesday, October 28, 4-5 pm

Join us as we gather to discuss how to protect assets, including property and second homes, the ways to reduce and eliminate taxes, and the importance of having a sound estate plan in place.

LET’S TALK ABOUT BOOKS 1:30-3:30 pm

Thursday, October 30 –Family Family by Laurie Frankel

Expenses To Expect Upon Buying A Home

Homeownership is often characterized as a fulfillment of a dream. Indeed, many homeowners feel their ability to buy a home is a reflection of their discipline and commitment to saving money. That discipline and dedication can set homeowners up for long-term financial health, providing a unique sense of security along the way. First-time home buyers may not know what to expect upon buying a home, and since each home is unique, it’s impossible for even long-time homeowners to say with certainty exactly how things will unfold once those new to home ownership get the keys to their first house. Various expenses might be the only common variable when it comes to homeownership, and some of those expenses may surprise first-time buyers. With that in mind, the following are some expenses first-time buyers can expect once their offers are accepted.

• Down payment: Conventional wisdom long suggested home buyers should submit a down payment of at least 20 percent of the overall purchase price upon buying a home. Buyers who want to follow that advice would need a down payment of $80,000 when buying a

$400,000 home. But many home buyers now submit down payments considerably less than 20 percent, particularly in the modern real estate market, which is characterized by high prices and low inventory. The lower the down payment, the higher your monthly mortgage payment will be, so it’s best to save as much as possible toward a down payment.

• Primary mortgage insurance (PMI): Buyers who cannot come up with a down payment of 20 percent or more will have to pay for primary mortgage insurance, which is typically a set fee that is incorporated into the mortgage payment each month. PMI fees are typically waived once the balance on the mortgage reaches 79 percent or less of the purchase price, though some lenders may waive PMI prior to that if the value of the home increases considerably before the loan balance reaches the predetermined marker.

• Closing costs: The amount of closing costs varies widely depending on a host of variables, but Bankrate. com notes it’s not uncommon for these costs to come in at somewhere between 2 and

5 percent of the loan principal. Closing costs must be paid no later than when the sale becomes official and buyers sign on the (many) dotted lines. Application and credit fees, title fees, underwriting fees, appraisal fees, and transfer tax are among the various fees that fall under the umbrella of closing costs.

• Moving: It’s also important that first-time home buyers budget for moving costs. Moving costs vary and may depend on how much buyers already own and how far they’re moving. The home renovation experts at Angi estimate that local moves typically cost somewhere between $883 and $2,568, while long-distance moves may run buyers anywhere from $2,700 to $10,000 or more. These costs are some of the upfront fees aspiring homeowners can expect when buying a home. Longterm costs, including homeowners’ insurance (which is separate from PMI), property taxes, homeowners’ association fees, and maintenance are some additional expenses buyers can plan for as they try to determine their home buying budgets.

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A Guide To Mortgage Interest Rates

Buying a home is the most expensive purchase many people make in their lifetime. Some people do it only once, while others are in the market with greater frequency. In any instance when the home-buying process involves securing a mortgage, buyers can benefit from knowing a thing or two about mortgage interest rates.

A mortgage interest rate can help buyers determine if a given home is affordable or beyond their budget. Rocket Mortgage says mortgage interest rates can have a major impact on long-term costs, so it is imperative to seek the lowest rates possible. However, an assortment of economic variables affect mortgage interest rates, and conditions unique to each buyer also can affect the rate they’re eligible to obtain.

Understanding home loan rates can help potential buyers better navigate the complex process of buying a home.

What is mortgage interest?

When a person buys a home with a mortgage, he or she doesn’t just pay back the amount borrowed, which is called the principal. The loan also requires paying interest, which is essentially the cost of borrowing money. Mortgage interest is calculated as a percentage of the remaining principal, says Investopedia.

How are mortgage rates set?

Mortgage rates are not determined by a single variable. They are derived from a combination of factors that include the Federal Reserve’s monetary policy, economic conditions, and a borrower’s personal financial situation. The Federal Reserve (in the United States) influences the overall rates by adjusting the federal funds rate, or the rate at which banks lend to each other overnight. This not only impacts mortgage rates, but also additional interest rates, according to Fannie Mae. Lenders will ultimately decide on the specific rates to offer borrowers.

How does a borrower’s financial situation affect mortgage rates?

Lenders will conduct a thorough assessment of a potential borrower’s creditworthiness. They will look at, among other things, a borrower’s credit score and debt-to-income ratio. A higher credit score typically results in a lower interest rate. A lower DTI indicates a lower risk to the lender, also potentially resulting in a lower interest rate. Squaring away finances well in advance of applying for a mortgage can help home buyers secure lower interest rates that could save them considerable sums of money over the life of their mortgages. How do loan types affect mortgage interest?

A home buyer will pay interest no matter

the mortgage type, but there are options to select a fixed or adjustable interest rate, or even an interest-only mortgage.

According to Bankrate, with a fixed-rate mortgage, the interest rate remains the same throughout the life of the loan, meaning the payment for principal and interest will remain consistent. Additional charges that are wrapped into mortgage payments could change, however. Property taxes and homeowners’ insurance charges could increase, for example. Fixed rates tend to be lower when the term of the mortgage is shorter, so borrowers can opt for a 20-year mortgage over a 30-year to save some money on interest.

An adjustable-rate mortgage (ARM) will see the interest rate change during the repayment period. It may start with a low introductory rate for the first several years of the loan, but then it can go up or down depending on market indexes and benchmarks. Many lenders put a cap on how high the interest rate can go, however. Various factors determine mortgage interest rates for home buyers, including market conditions, credit standing, federal rates, the type of loan, and term length.

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Joining Together For Walk To School Day At John F. Kennedy

Students, staff, and families at John F. Kennedy Elementary School in the West Babylon School District joined together on Oct. 1 to celebrate Walk to School Day, an event that promotes healthy habits, community spirit and pedestrian safety.

The morning began with students meeting at a designated point, where they were greeted by Principal Denisha Van Liew, teachers and parents. Together, they walked as a group to school, building excitement and camaraderie before the start of the day.

This annual nationwide initiative highlights not only physical activity but also the importance of safe walking routes and environmentally friendly practices. By leaving cars at home, families are encouraged to reduce traffic congestion around schools and lessen their carbon footprint.

The event concluded at the school entrance, where students gathered for a group photo before the start of the school day. The West Babylon School District looks forward to continuing this tradition, emphasizing health, safety, and community engagement each year.