The Best Mortgage Lenders in Commack, NY
Compare verified mortgage lenders serving Commack, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Commack
Featured Mortgage Lenders
Michael Ardolino
CrossCountry Mortgage
CrossCountry Mortgage's Commack branch, led by Michael Ardolino, is one of the highest-rated mortgage lenders on Long Island with exceptional customer satisfaction. They specialize in personalized service and offer competitive rates across all loan types. With over 300 positive reviews highlighting their responsiveness and expertise, they've built a strong reputation for guiding clients through complex mortgage processes. Their local presence combined with national lending capabilities provides clients with the best of both worlds.
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Anthony Fazzolari
NRL Mortgage
NRL Mortgage's Commack location is consistently praised for their exceptional customer service and competitive rates. Specializing in both purchase and refinance transactions, they've helped thousands of Long Island homeowners. Their team has extensive experience with the local real estate market and offers personalized guidance throughout the entire mortgage process. Multiple reviews highlight their ability to close loans quickly and efficiently while maintaining clear communication.
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Branch Manager
Wells Fargo Home Mortgage
Wells Fargo's Commack branch brings national lending power with strong local presence, offering some of the most competitive rates in the area. With decades of experience serving Long Island communities, they provide comprehensive mortgage solutions and exceptional customer service. Their extensive loan product portfolio and digital mortgage tools make the application process streamlined and efficient. The local team has deep knowledge of the Commack housing market and maintains high customer satisfaction ratings.
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Frequently Asked Questions
Common questions about mortgage lending in Commack, NY
What are the current average mortgage rates for homebuyers in Commack, NY, and how do they compare to national averages?
Mortgage rates in Commack typically align closely with the national average but can be slightly influenced by New York State's overall market and property taxes. As of recent trends, rates for a 30-year fixed mortgage in the area often range within 0.125% to 0.25% of the national average. It's crucial to work with a local lender familiar with Suffolk County, as they can provide the most accurate, real-time quotes and may have access to specific portfolio products.
Are there any specific down payment assistance or first-time homebuyer programs available for Commack residents?
Yes, Commack homebuyers can access several New York State programs, such as the SONYMA (State of New York Mortgage Agency) Low Interest Rate and Achieving the Dream programs, which offer competitive rates and down payment assistance. Additionally, Suffolk County offers its own Homebuyer Assistance Program for income-eligible buyers. These programs are particularly valuable in Commack's market to help manage the higher-than-average down payment requirements often seen in this desirable school district.
How do Commack's high property taxes impact the mortgage qualification process?
Commack's property taxes are a significant factor, often ranging from $10,000 to $15,000+ annually for a single-family home. Lenders will include this high tax burden in your debt-to-income (DTI) ratio calculation, which can substantially reduce the loan amount you qualify for compared to areas with lower taxes. It's essential to get a precise tax estimate for any property and factor this into your budget early in the home search process.
What type of home appraisal challenges are common in Commack's real estate market?
Appraisals in Commack can be challenging due to the mix of older, renovated homes and newer constructions, making it difficult to find perfect "comps" (comparable sales). Appraisers must carefully account for updates, lot sizes, and the premium associated with the highly-rated Commack School District. Working with a lender who uses local appraisers familiar with these nuances is key to avoiding valuation issues that could delay your closing.
Are jumbo loans common in Commack, and what are the specific requirements?
Yes, jumbo loans are very common in Commack due to home prices frequently exceeding the conforming loan limits (for 2024, $1,149,825 in Suffolk County). Requirements are stricter than for conventional loans, often requiring excellent credit (FICO scores of 720+), lower debt-to-income ratios, and larger down payments (typically 20-25%). Local banks and credit unions with a strong presence on Long Island can sometimes offer more competitive jumbo terms.
Nearby Cities
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Why Choose a Mortgage Lender in Commack?
Local Market Knowledge
Lenders who understand Commack'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 Commack and get competitive rates on your home loan.