The Best Mortgage Lenders in Burnt Hills, NY
Compare verified mortgage lenders serving Burnt Hills, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burnt Hills
Featured Mortgage Lenders
Michael Fazio
NVR Mortgage
NVR Mortgage stands out as one of the highest-rated mortgage lenders serving the Burnt Hills area through their Albany location. With over 25 years of experience, they specialize in providing personalized mortgage solutions with exceptional customer service. Their 4.9 rating across multiple review platforms reflects their commitment to transparency and competitive rates. They excel in both purchase and refinance transactions, offering a wide range of loan products including specialized construction loans that are particularly valuable in the growing Burnt Hills market.
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Chris Daus
Trustco Bank
Trustco Bank has been serving the Capital Region communities including Burnt Hills for over a century, establishing deep roots and trusted relationships. Their Glenville branch location provides convenient access for Burnt Hills residents. With a 4.7 rating and extensive experience in local market conditions, they offer competitive rates and personalized service. Their strength lies in understanding the unique needs of upstate New York homebuyers and providing flexible loan options with local decision-making authority.
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Jennifer O'Connor
Sunmark Credit Union
Sunmark Credit Union serves the Burnt Hills community from their nearby Clifton Park location, offering member-focused mortgage solutions with exceptional rates and service. Their 4.8 rating reflects their commitment to member satisfaction and community involvement. As a credit union, they often provide more competitive rates and lower fees than traditional banks. Their mortgage specialists have extensive knowledge of the local real estate market and offer comprehensive guidance through the entire home financing process, making them particularly valuable for first-time homebuyers in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Burnt Hills, NY
Are there any special mortgage programs for first-time homebuyers in Burnt Hills, NY?
Yes, New York State offers the SONYMA (State of New York Mortgage Agency) programs, which are popular in Burnt Hills. These include low-interest rate loans, down payment assistance, and the "Achieving the Dream" program, which can be particularly helpful given the area's competitive market. Local lenders are well-versed in these state-wide programs and can guide you through eligibility, which often includes income and purchase price limits.
How does the property tax rate in Burnt Hills impact my mortgage qualification and payments?
Burnt Hills is located within the Town of Ballston, which has a relatively high property tax rate compared to national averages. Lenders will factor this into your debt-to-income (DTI) ratio, potentially lowering the loan amount you qualify for. Your monthly mortgage payment will include a significant escrow portion for taxes, so it's crucial to budget for this when determining how much house you can afford in the area.
What is the typical down payment needed for a home in Burnt Hills' competitive market?
While 20% down is ideal to avoid private mortgage insurance (PMI), the competitive nature of the Burnt Hills market, especially for sought-after homes in the top-rated school district, often leads buyers to offer stronger terms. Many successful buyers put down 10-15%, utilizing conventional loans, or use FHA loans with as little as 3.5% down, though a stronger down payment can make your offer more attractive to sellers.
Are USDA loans available in Burnt Hills, NY, given its semi-rural setting?
Most of Burnt Hills is not eligible for USDA Rural Development loans, as the area is considered too close to the urban center of Schenectady/Albany. However, some outlying parts of the 12027 zip code may have pockets of eligibility. It's best to check the official USDA eligibility map or consult with a local mortgage broker who can confirm if a specific property qualifies for this zero-down-payment program.
How do local lenders in the Capital Region differ from national banks for a Burnt Hills mortgage?
Local lenders and credit unions, like SEFCU or Trustco Bank, often have deeper knowledge of the Burnt Hills market and can offer more personalized service, which is valuable in a fast-moving transaction. They may also have stronger relationships with local real estate agents, which can help in getting your offer accepted. While rates are competitive nationally, a local lender's efficiency and understanding of area-specific appraisals can be a significant advantage.
Nearby Cities
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Why Choose a Mortgage Lender in Burnt Hills?
Local Market Knowledge
Lenders who understand Burnt 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 Burnt Hills and get competitive rates on your home loan.