What Long Island asked in October
Five real estate questions Long Island homeowners and buyers were asking this month, answered with sourced numbers.
How do I know if my loan estimate looks right
Your Loan Estimate is a three page form every lender has to send you after you apply, and the Consumer Financial Protection Bureau built it so you can compare offers apples to apples. Start with the easy checks: your name is spelled right, the loan term and loan type match what you agreed to, and the loan amount is what you expected. Then look at Section D on page two, Total Loan Costs, which rolls up what the lender charges to make the loan plus any costs tied to it.
Not every number on the form is locked in. Some fees can change before closing, but the total for most categories should not move more than ten percent from your final Loan Estimate once you are in contract. If your Closing Disclosure later shows a bigger jump than that, or new line items that never appeared on the Loan Estimate, that is your cue to ask the lender to explain it before you sign. Our net sheet walks through the seller side of these numbers if you are also thinking about what a future sale could look like.
How much does a cesspool or septic inspection cost, and who can do it
A standard pre purchase cesspool or septic inspection on Long Island typically runs three hundred to five hundred fifty dollars for most residential properties in Nassau and Suffolk, with the exact price depending on access and whether a dye test is added. The work has to be done by someone licensed for it. In Suffolk County that means a contractor holding a permit through the Suffolk County Department of Health Services, while Nassau County properties need a contractor licensed through the county.
The two counties also differ on how often a system has to be checked at all. Suffolk County requires inspections every three years with reporting to the county database, while Nassau runs on a five year cycle. If you are buying a home on a cesspool or septic system, ask for the most recent inspection report before you waive that contingency.
What does home insurance add to a monthly Long Island payment
Home insurance is one of the biggest reasons a Long Island mortgage payment looks different from the national number you see in headlines. Statewide, New York homeowners pay roughly one hundred fifty dollars a month on average, but that figure is dragged down by inland and upstate rates. Nassau and Suffolk sit well above it because of coastal storm exposure.
Pricing data built specifically around Long Island puts the typical policy at about two thousand eight hundred eighty two dollars a year for three hundred thousand dollars in dwelling coverage with a one thousand dollar deductible, which works out to a bit over two hundred dollars a month folded into escrow. When you are running numbers on a house, do not just plug in a national average. Our affordability calculator lets you edit the insurance line yourself so your monthly payment reflects a Long Island premium, not a statewide one.
Can Long Island buyers use Zillow's new FHA down payment program
Zillow Home Loans launched a down payment assistance program on October 28, 2026 that lets eligible FHA buyers get up to three and a half percent of the purchase price as a second loan with no interest and no monthly payment, forgiven after five years if the buyer stays in the home and keeps payments current. It sounds like exactly what a Long Island first time buyer needs. It is not available here.
The program's own announcement lists the states where it does not operate, and New York is one of them, along with Arizona, Delaware, Florida, Massachusetts and Virginia. It also only works if you finance through Zillow Home Loans directly, so even where it is offered it is not a universal FHA benefit. For Long Island buyers, the practical move is to look at what New York already runs. The SONYMA Down Payment Assistance Loan offers a zero interest second loan equal to the greater of three thousand dollars or three percent of the purchase price, capped at fifteen thousand dollars, forgiven after ten years in the home. Compare that and the county level programs on our down payment help page before you assume a national headline applies here.
Why does my Closing Disclosure need a side by side check with my Loan Estimate
Even after your Loan Estimate looks right, you are not done. The CFPB recommends comparing your Closing Disclosure against your most recent Loan Estimate, not just the very first one you received, since revised estimates are common as a deal moves along. Check that the loan amount, interest rate, monthly payment and cash to close all match what you last agreed to.
By law your Closing Disclosure has to arrive at least three business days before your scheduled closing, which gives you a real window to flag problems instead of discovering them at the table. If a number moved and nobody told you why, ask before you sign anything. Our after closing guide covers what to do once the paperwork is done and the keys are in hand.
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