The Best Mortgage Lenders in Eaton, NY
Compare verified mortgage lenders serving Eaton, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Eaton
Featured Mortgage Lenders
Visions Federal Credit Union
Visions Federal Credit Union
Visions Federal Credit Union is one of the highest-rated mortgage lenders serving the Eaton area, with exceptional customer satisfaction ratings and deep roots in Central New York. While headquartered in nearby Oneida, they extensively serve Madison County and surrounding regions. They offer highly competitive rates with personalized service through local branch offices, making them particularly strong for first-time homebuyers and those seeking USDA rural development loans that are ideal for the Eaton area. Their mortgage specialists provide comprehensive guidance through the entire process with local underwriting decisions.
Loan Types:
Adirondack Bank
Adirondack Bank
Adirondack Bank has been serving Central New York communities for over a century, with strong presence throughout Madison County including Eaton. They are particularly noted for their local decision-making process and community-focused approach to mortgage lending. Customers consistently praise their responsive service, competitive rates, and the expertise of their mortgage officers who understand the local real estate market. Their construction-to-permanent loans are especially valuable in rural areas like Eaton where new construction is common.
Loan Types:
NVR Mortgage
NVR Mortgage, Inc.
NVR Mortgage, operating as Ryan Homes in the new construction market, has a strong presence throughout Central New York including Madison County. While based in Liverpool near Syracuse, they extensively serve the Eaton area with competitive mortgage products and excellent customer service ratings. They are particularly strong for purchase loans with local processing and underwriting teams that understand rural property considerations. Their long-standing reputation and extensive experience with various loan types make them a top choice for both new construction and existing home purchases in the region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Eaton, NY
What are the typical down payment requirements for homes in Eaton, NY, given its rural market?
In Eaton's rural market, many lenders can offer USDA Rural Development loans, which require **0% down payment** for eligible borrowers and properties. For conventional loans, down payments typically start at 3-5%, but local lenders familiar with Madison County's property values can provide precise guidance based on the specific property's appraisal.
Are there any special first-time homebuyer programs or grants available specifically for Eaton, NY?
Yes, the **New York State Homes and Community Renewal (HCR)** offers the Achieving the Dream program, which provides down payment assistance up to $15,000. Additionally, the **Madison County Rural Preservation Company** may have local grants or programs for income-eligible buyers in Eaton and surrounding towns to help with closing costs.
How do property types common in Eaton, like older farmhouses or land-with-home packages, affect the mortgage process?
Financing older farmhouses or properties with acreage often requires a more specialized appraisal to ensure the home meets lending standards. Lenders may require well and septic inspections. For larger land parcels, some lenders might only finance the value of the house and a standard lot size, requiring a larger down payment for the excess land value.
What is the current range for mortgage interest rates in Eaton, NY, and how do they compare to state averages?
Mortgage rates in Eaton are generally aligned with national and state averages, but local credit unions like **Oneida Financial (part of Community Bank)** often offer competitive rates. As of recent trends, rates for a 30-year fixed mortgage in the area typically range within 0.125% to 0.25% of the New York state average, influenced by the borrower's credit profile and loan type.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Eaton?
Eaton, located in Madison County, has a relatively moderate property tax rate compared to more urban parts of New York. Your escrowed payment will include school, county, and town taxes. For insurance, due to the rural setting, lenders will require a standard homeowner's policy, and if the property has a well/septic, you may want to consider additional coverage for those systems.
Why Choose a Mortgage Lender in Eaton?
Local Market Knowledge
Lenders who understand Eaton'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 Eaton and get competitive rates on your home loan.