Lyons Mortgage Services Wins Best of the Boro 2023

 

Edith O’Donnell, George Sophocleous, and Nicos Tziazas had different paths that led them to the mortgage industry. Edith was an instructor of English at C.W. Post College of Long Island University. George and Nicos were both originally from Cyprus who came to the United States for education and opportunity. They all had degrees in finance and accounting, and they all worked at a mortgage company in New York City.

Edith, Nicos and George became friends and colleagues, and they realized that they shared a vision of creating their own mortgage company that would serve the diverse and growing communities of the New York area. They wanted to offer competitive rates, personalized service, and flexible financing options to their clients. They also wanted to give back to their communities and support various causes related to education, culture and sports.

The three partners decided to start their own company in 1996 and named it Lyons Mortgage Services.  They started with a small team of loan officers and processors, working long hours and building relationships with realtors, community leaders, developers and borrowers.

[click_to_tweet tweet=”‘Lyons has always emphasized working with our borrowers to help them find the best possible mortgages to fit their needs.  Our clients are our best advertisements!’ said Edith O’Donnell, #Lyons CEO. ” quote=”‘Lyons has always emphasized working with our borrowers to help them find the best possible mortgages to fit their needs.  Our clients are our best advertisements!’ said Edith O’ Donnell, Lyons CEO. “]

Lyons faced many challenges along the way but adapted to the changing market conditions, expanded their product offerings and invested in technology. They also maintained their commitment to serving their communities. George Sophocleous, Lyons Chairman served on the Board of Trustees of MIMA Music, an international organization that trains and manages musicians to lead community impact initiatives around the world. Nicos Tziazas, Lyons President has been the President and coach of a community youth soccer club for over two decades.  Edith O’Donnell, Lyons CEO was elected to two 5 year terms on the Glen Cove School Board, serving as President for the last 2 years of her term. She was also honored with a Long Island Power Women in Business Award.

Today, Lyons Mortgage Services has helped thousands of families achieve their homeownership goals. It has also received numerous awards and recognitions for its excellence and integrity.

The partners say that their success is the result of hard work, teamwork, and customer satisfaction. They hope that their story will inspire others to pursue their dreams and make a positive difference in the world.

FAQ

Your mortgage payment typically consists of the following components, often referred to as PITI:

  • Principal: This is the portion of your payment that goes towards reducing the original loan amount.
  • Interest: This is the cost of borrowing money, calculated as a percentage of the remaining loan balance.
  • Taxes: Property taxes that are paid to your local government. These are often collected by your lender and held in an escrow account.
  • Insurance: Homeowners insurance, which protects your property from various risks, such as fire or theft. This is also often included in your escrow account.

 

Choosing the right mortgage depends on your financial situation, goals, and risk tolerance. Fixed-rate mortgages offer consistent payments over time, making budgeting easier. Adjustable-rate mortgages (ARMs) might start with lower rates but can adjust over time. To determine the best fit, consider your long-term plans, how long you intend to stay in the home, and your comfort level with potential rate changes.

 

A fixed-rate loan maintains the same interest rate and monthly payment throughout the life of the loan. This offers stability but might have a higher initial rate. An adjustable-rate loan starts with a fixed rate for a set period, then adjusts periodically based on an index. Initial rates are often lower, but future adjustments can lead to rate increases.

 

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