Mariners Harbor, on Staten Island's northwest shore near the Goethals Bridge, mixes two-family townhouses with older frame houses and waterfront industry. Seller financing here mostly involves one- and two-family homes.
When a Mariners Harbor owner sells with financing, the owner becomes the lender. Most owners price that loan off what banks charge: homeowners typically ask about 2 percentage points more than the national average 30-year rate, with a 5-year balloon payment, or an extension if both sides agree to one in the contract. The numbers below update every week.
| Week | Bank 30-yr | Seller-finance typical |
|---|---|---|
| Oct 15, 2026 | 7.40% | 9.40% |
| Oct 8, 2026 | 7.40% | 9.40% |
| Oct 1, 2026 | 7.28% | 9.28% |
| Sep 24, 2026 | 7.03% | 9.03% |
| Sep 17, 2026 | 6.95% | 8.95% |
| Sep 10, 2026 | 6.76% | 8.76% |
| Sep 3, 2026 | 6.71% | 8.71% |
| Aug 27, 2026 | 6.66% | 8.66% |
| Aug 20, 2026 | 6.65% | 8.65% |
| Aug 13, 2026 | 6.67% | 8.67% |
| Aug 6, 2026 | 6.69% | 8.69% |
| Jul 30, 2026 | 6.66% | 8.66% |
Mariners Harbor sits at the northwest end of Staten Island's North Shore along the Kill Van Kull, with Elm Park and Port Richmond to the east and the Goethals Bridge and the Howland Hook container terminal to the west. Richmond Terrace and Forest Avenue are its main east-west roads. There is no rail service, so buses link the neighborhood to the St. George ferry and the rest of the island, and the Goethals and Bayonne bridges put New Jersey a short drive away. The name recalls the oyster captains and mariners who built houses along Richmond Terrace in the 1800s, a few of which still stand.
Much of the housing is newer than elsewhere on the North Shore. Starting in the late 20th century, builders filled vacant land with rows of attached and semi-detached two-family townhouses, many with a garage and a ground-level unit. Older detached frame houses remain on Richmond Terrace and nearby streets, and the Mariners Harbor Houses public housing complex is a large presence. Tidal wetlands along the shore limit where new building is allowed. The result is an area where one- and two-family homes owned as real property dominate, which suits owner financing well.
Getting around: No rail service; buses along Richmond Terrace and Forest Avenue to the St. George ferry terminal; Goethals and Bayonne bridges nearby
Lenders tend to be cautious in Mariners Harbor for reasons tied to geography and construction. Parts of the neighborhood sit in FEMA flood zones, so flood insurance raises the monthly cost a bank calculates, and low blocks near the shore flooded during Hurricane Sandy. Townhouses built quickly in the 1980s and 1990s can have roof, drainage or foundation problems, and some were altered with an extra unit at garage level. Buyers drawn by entry-level prices often include port, warehouse and logistics workers and small contractors whose overtime, side income or credit history does not line up with automated underwriting.
Many of the townhouses here were bought new by their current owners decades ago, and those mortgages are paid off or nearly so. Owners ready to retire or move to New Jersey or Pennsylvania often prefer a reliable monthly payment to the uncertainty of a bank-dependent buyer. Some have rented out the lower unit for years and like the idea of replacing that rent with note payments. Heirs who inherit a dated townhouse sometimes find seller financing the simplest way to sell it as is. A note also lets a seller hold out for a fair price instead of taking a quick cash offer.
Every owner-financed deal comes down to five numbers. Here is what each one means, what is typical in New York City right now, and how they work on an illustrative 2-family semi-detached townhouse in Mariners Harbor.
What you pay for the property. Owners who offer financing sometimes hold firm on price because they are giving you flexibility everywhere else, so compare against recent sales on the block before you offer.
Example: $690,000Cash you pay at closing. It is the seller's protection if the loan goes bad, so expect 10% to 30%. A bigger down payment is your best lever for a lower rate or a longer balloon.
Example: 10% = $69,000The rate on the seller's loan to you. Owners typically charge about 2 points above the national average 30-year bank rate. New York's civil usury limit is 16% a year.
Today: about 9.40% (bank average 7.40%)The schedule used to calculate your monthly payment, usually 30 years. A long schedule keeps the payment close to what a bank loan would cost, even though the loan comes due sooner.
Typical: 30-year scheduleThe date the remaining balance comes due, usually 5 years after closing. By then you refinance with a bank or sell. If both sides agree up front, the contract can allow an extension, often for a fee or a higher rate.
Typical: 5-year balloon, extension if agreedIllustrative only, not a listing or a quote. Excludes taxes, insurance and closing costs. Payment recalculates from this week's rate.
Often, yes. They are real property with a deed rather than co-op shares, and most are two-families, so a buyer can live in one unit and rent the other. Many were bought new decades ago and are owned free and clear. Check the condition of roofs, decks and drainage, and confirm the legal number of units before agreeing on terms with the seller and your attorney.
Ask the seller directly and in writing; New York's property condition disclosure form now includes questions about flood history and flood insurance. Look for water lines, replaced drywall or new mechanicals in the basement, and ask whether the house received storm recovery aid. Check FEMA's map for the flood zone, and ask an insurance agent what the property's claims history shows.
Some do. Certain townhouse developments share driveways, parking areas or private roads managed by an association, while others are simple individual lots with no association at all. Ask for any declaration, bylaws and fee history, and confirm who maintains and insures shared areas. Unpaid association charges can become a lien, so your attorney should check before closing.
Browse Staten Island listings where owners offer financing, or list your own property and set your own terms.
Open the Live Map List your propertyThis article is general education, not legal, tax, lending or investment advice. Seller-financing terms are negotiated between buyer and seller and every deal is different. Before signing anything, have a New York real estate attorney review the contract, note and mortgage, and talk to a CPA about the tax side. Rates shown update weekly from Freddie Mac's national survey; the seller-finance figure is a rule of thumb, not a quote.