The Best Mortgage Lenders in Aurora, NY
Compare verified mortgage lenders serving Aurora, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Aurora
Featured Mortgage Lenders
Christopher J. Maley
Lyons National Bank
Lyons National Bank has been serving the Finger Lakes region for over 170 years and is one of the most trusted local lenders for Aurora residents. They offer personalized mortgage services with local decision-making and have consistently high customer satisfaction ratings. Their mortgage specialists provide competitive rates on all loan types with the convenience of local branch service and deep community knowledge that national lenders can't match.
Loan Types:
Mortgage Department
Tompkins Community Bank
Tompkins Community Bank has been serving central New York since 1836 and is highly rated for mortgage lending in the Aurora area. They offer competitive rates and exceptional customer service with local loan processing. Their mortgage team specializes in first-time homebuyer programs and provides personalized guidance through the entire home financing process. With strong community roots and extensive experience, they're a top choice for Aurora homebuyers.
Loan Types:
Mortgage Center
NBT Bank
NBT Bank has been serving upstate New York communities for over 165 years and maintains a strong presence in the Aurora area through their nearby Auburn branch. They offer a comprehensive range of mortgage products with competitive rates and local underwriting. Customers consistently praise their responsive service, transparent process, and knowledgeable mortgage specialists. Their deep regional expertise and commitment to customer satisfaction make them an excellent choice for Aurora home financing needs.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Aurora, NY
What are the typical down payment requirements for homes in Aurora, NY, given its market?
For Aurora's median home price range, many conventional loans require a 5-10% down payment. However, due to the village's location within Cayuga County, buyers may qualify for USDA Rural Development loans, which offer 0% down payment options for eligible properties and income levels. It's important to get a property-specific determination, as not all parcels in Aurora qualify for USDA financing.
Are there any special mortgage programs for first-time homebuyers looking in Aurora?
Yes, the New York State Homes and Community Renewal (HCR) offers the "First Home Club" program, which provides matching grants for down payment and closing costs. This is available in Cayuga County, including Aurora. Additionally, the "Achieving the Dream" program offers competitive interest rates and down payment assistance, which can be particularly helpful given the presence of Wells College and associated employees in the area.
How does the seasonal nature of the Finger Lakes region impact the mortgage process in Aurora?
The appraisal process can be affected by seasonality, as comparable home sales ("comps") may be less frequent in winter months, potentially requiring appraisers to look at a broader geographic area or older sales. Furthermore, employment for those in tourism or agriculture may be viewed differently by lenders, requiring thorough documentation of stable, year-round income if your job is seasonal.
What should I know about property taxes and insurance when calculating my mortgage payment in Aurora?
Property taxes in the village of Aurora (within the town of Ledyard) are a significant component of your monthly payment and can vary. It's crucial to get an accurate estimate from the Cayuga County Real Property Tax Service. For insurance, due to Aurora's proximity to Cayuga Lake, you may need to inquire about specific flood zone determinations, which can affect both the requirement for and cost of flood insurance.
Are jumbo loans common in Aurora, NY, and what are the considerations?
Jumbo loans (which exceed the conforming loan limits) are less common in Aurora compared to major metro areas, as home prices generally fall within conforming limits. For 2024, the conforming limit for Cayuga County is $766,550. However, for higher-value historic or lakefront properties, a jumbo loan may be necessary, which typically requires stronger credit, more reserves, and a slightly higher interest rate.
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Why Choose a Mortgage Lender in Aurora?
Local Market Knowledge
Lenders who understand Aurora's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in New York.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Aurora and get competitive rates on your home loan.