Prospective homebuyers can attend free seminar at Baldwin library

Long Islanders interested in buying a home can learn how to prep their finances and apply for down payment assistance during a free seminar April 4 at the Baldwin Public Library.  

The event, hosted by Nassau County Legis. Debra Mulé and the Long Island Board of Realtors, will cover topics such as credit counseling, mortgages and building a team of professionals to help with the process. It will run from 6 p.m. to 8:30 p.m.

“I have adult children, and I know how hard it is for people my children’s ages — in their 20s and 30s — to become a first-time homebuyer,” Mulé said. “It’s gotten out of reach for most people. That’s going to be a real problem for us as we move forward in Nassau County.”

In February, the median sale price for a single-family home in Nassau County climbed to a record $752,000, or 15.7% more than the same month a year ago. In the years since the pandemic started, home prices have steadily climbed.

Buyers in today’s market are also facing mortgage rates that are about twice as high as they were three years ago, which has swelled the size of monthly housing payments.

Mulé said the seminar will be a worthwhile opportunity to understand all the costs that go into homeownership, including insurance, property taxes and maintenance costs. In parts of the South Shore communities Mulé represents, including Baldwin, Freeport and Oceanside, flood insurance is an additional factor. 

The seminar “can help people be realistic about what’s involved in becoming a homeowner,” she said.

Long Island Housing Partnership, which administers down payment assistance programs, and the State of New York Mortgage Agency, which offers discounted rates to first-time buyers, are among the organizations slated to attend the event.

Doreen Spagnuolo, CEO of the Long Island Board of Realtors, said while one goal is to reach first-generation buyers, she believes the information shared will be valuable to anyone searching for a home — even if they’ve bought one before.

“If we can help just one person be able to achieve the American dream of homeownership, it will be a successful event,” she said.

Interested attendees with questions about the event can call Mulé's office at  516-571-6206.

By Jonathan LaMantia

jonathan.lamantia@newsday.com@jonlamantia

Jonathan LaMantia covers residential real estate and other business news on Long Island. He previously covered the business of health care for Crain's New York Business.