The Best Mortgage Lenders in East Setauket, NY
Compare verified mortgage lenders serving East Setauket, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in East Setauket
Featured Mortgage Lenders
Bethpage Federal Credit Union Mortgage Department
Bethpage Federal Credit Union
As one of Long Island's largest credit unions, Bethpage FCU has earned exceptional ratings for mortgage lending with deep roots in Suffolk County. They consistently receive top marks for competitive rates, personalized service, and local underwriting expertise. Their strong community presence and member-focused approach make them a premier choice for East Setauket homebuyers, offering the benefits of a credit union with the full-service capabilities of a major lender.
Loan Types:
Guild Mortgage - Long Island Office
Guild Mortgage Company
Guild Mortgage's Long Island office has built an outstanding reputation for serving Suffolk County homebuyers with exceptional customer service and a wide range of mortgage products. Their local loan officers have extensive knowledge of the East Setauket market and provide personalized guidance through the entire home financing process. With competitive rates and a commitment to closing loans on time, they consistently receive high praise from local homebuyers.
Loan Types:
CrossCountry Mortgage - Long Island
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Long Island division has established itself as a top-rated mortgage lender serving the East Setauket area with excellent customer satisfaction ratings. They offer a comprehensive range of loan programs and are particularly noted for their responsive communication and efficient processing. Their local expertise combined with national lending capabilities provides East Setauket homebuyers with competitive options and reliable service throughout the mortgage process.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in East Setauket, NY
Are there any special mortgage programs for first-time homebuyers in East Setauket, NY?
Yes, New York State offers the SONYMA (State of New York Mortgage Agency) programs, which are popular in East Setauket. These include low-interest rate mortgages, down payment assistance, and special programs for veterans and healthcare workers. Additionally, Suffolk County offers its own Homebuyer Assistance Program, which can provide down payment and closing cost aid to eligible buyers in the area.
How do property taxes in East Setauket impact my mortgage qualification and monthly payment?
Property taxes in the Three Village Central School District (serving East Setauket) are historically significant, often ranging from $10,000 to $20,000+ annually. Lenders will factor this high tax burden into your debt-to-income ratio, which can reduce the loan amount you qualify for. Your monthly mortgage payment will include a substantial escrow portion for taxes, making it crucial to budget accordingly.
What is the typical down payment needed for a home in East Setauket's competitive market?
While 20% down is ideal to avoid Private Mortgage Insurance (PMI), competitive offers in East Setauket often come with strong down payments of 20% or more. However, many conventional loans are available with as little as 3-5% down, and FHA loans with 3.5% down are an option, though a stronger down payment can make your offer more attractive in multiple-bid situations common in this desirable area.
Are there specific considerations for getting a mortgage for a historic or older home in East Setauket?
Absolutely. East Setauket has many charming older homes. Lenders may require a more thorough home inspection and could mandate repairs for health and safety issues before closing. If the home is officially designated as historic, you may explore renovation loans like the FHA 203(k), but standard appraisals might also be more complex due to unique property characteristics.
How do jumbo loan limits affect mortgage lending in East Setauket, given the higher home prices?
With median home prices well above the Suffolk County average, many East Setauket purchases require jumbo loans. For 2024, the conventional conforming loan limit in Suffolk County is $1,149,825; loans above this are jumbo. Jumbo loans typically require stronger credit (often 700+), lower debt-to-income ratios, and larger down payments (usually 20-30%), and they may have slightly higher interest rates.
Nearby Cities
Explore mortgage lenders in cities near East Setauket, NY
Why Choose a Mortgage Lender in East Setauket?
Local Market Knowledge
Lenders who understand East Setauket'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 East Setauket and get competitive rates on your home loan.