The Best Mortgage Lenders in Bedford Hills, NY
Compare verified mortgage lenders serving Bedford Hills, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bedford Hills
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong local presence in Westchester County, including Bedford Hills. Founded in 1996, it has built a reputation for exceptional customer service, competitive rates, and a wide range of loan products. With high ratings from numerous clients, the company is praised for its efficient processing, personalized guidance, and commitment to making home financing accessible. Their White Plains office serves as a hub for the area, ensuring reliable support for homebuyers and refinancers alike.
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The Westchester Bank
The Westchester Bank
The Westchester Bank is a locally owned and operated community bank that has been serving Bedford Hills and the broader Westchester area since 2000. Known for its personalized approach and deep community ties, the bank offers competitive mortgage rates and a variety of loan options. Customers consistently rate it highly for its responsive service, transparency, and involvement in local events. With a focus on building long-term relationships, The Westchester Bank is a trusted choice for home financing in the region.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a strong presence in the New York metropolitan area, including Bedford Hills. Founded in 2000, it combines digital efficiency with local expertise, offering competitive rates and a streamlined application process. Highly rated for its customer-centric approach, the company provides a wide array of loan products and is known for quick closings and excellent communication. Their New York office actively serves Westchester clients, making them a reliable option for homebuyers seeking innovation and reliability.
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Frequently Asked Questions
Common questions about mortgage lending in Bedford Hills, NY
Are mortgage rates in Bedford Hills, NY, typically higher than the national average?
Yes, mortgage rates in Bedford Hills and the broader Westchester County area can be slightly higher than the national average. This is often due to the higher loan amounts associated with the area's premium real estate market and certain local lender practices. However, shopping around with both local community banks and national lenders is crucial to secure the most competitive rate.
What local or county-level down payment assistance programs are available for first-time homebuyers in Bedford Hills?
The Westchester County Homeownership Program offers down payment assistance to eligible first-time buyers in Bedford Hills. This program can provide a deferred, forgivable loan for up to $25,000. Additionally, the New York State Homes and Community Renewal (HCR) offers programs like Achieving the Dream, which can be combined with these local resources.
How does the high property tax rate in Bedford Hills affect my mortgage qualification?
Bedford Hills has some of the highest property taxes in Westchester County, which significantly impacts your debt-to-income (DTI) ratio. Lenders will carefully scrutinize this, as the high monthly tax escrow payment reduces the amount of mortgage payment you can qualify for. It's essential to get a precise tax estimate and factor this in early when determining your budget.
Are jumbo loans common for mortgages in Bedford Hills, and what are the requirements?
Yes, jumbo loans are extremely common in Bedford Hills due to home prices regularly exceeding the conforming loan limits (which is $1,149,825 for 2024 in Westchester County). Requirements are stricter, often requiring excellent credit (FICO scores of 740+), larger down payments (typically 20-30%), and significant cash reserves (often 12+ months of mortgage payments).
Does living in a specific area like Bedford Hills or Katonah within the town of Bedford affect my mortgage options?
While your specific hamlet doesn't change core loan programs, it can impact property insurance and appraisal considerations. For example, homes near wooded areas may require additional wildfire insurance assessments. Furthermore, appraisers will use comparable sales ("comps") from Bedford Hills, Katonah, and similar northern Westchester towns, which can influence the final appraised value crucial for loan approval.
Nearby Cities
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Why Choose a Mortgage Lender in Bedford Hills?
Local Market Knowledge
Lenders who understand Bedford Hills'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 Bedford Hills and get competitive rates on your home loan.