The Best Mortgage Lenders in Edwards, NY
Compare verified mortgage lenders serving Edwards, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Edwards
Featured Mortgage Lenders
Fairway Independent Mortgage - Watertown
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with a strong local presence in Northern New York, including service to Edwards. Known for exceptional customer service and competitive rates, they specialize in rural and first-time homebuyer programs. Their Watertown office provides personalized support, with loan officers experienced in navigating USDA and VA loans common in St. Lawrence County. High customer satisfaction scores and a reputation for smooth, efficient closings make them a preferred choice in the region.
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Homestead Funding Corp
Homestead Funding Corp
Homestead Funding has been serving upstate New York for decades, including Edwards and St. Lawrence County, with a focus on community-oriented lending. They excel in FHA and VA loans, offering tailored advice for rural homebuyers. Their high ratings stem from transparent processes, local expertise, and dedication to customer education. As a established broker, they provide access to multiple lenders for competitive rates, backed by numerous positive reviews for reliability and support.
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Movement Mortgage - Northern NY
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong regional presence that covers Edwards and surrounding areas. They are praised for fast loan processing and excellent digital tools, ideal for rural clients seeking convenience. Specializing in VA and USDA loans, they have a track record of high customer satisfaction in New York's North Country. Their community involvement and competitive rate options make them a reliable choice for homebuyers in St. Lawrence County.
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Frequently Asked Questions
Common questions about mortgage lending in Edwards, NY
What are the typical down payment requirements for homes in Edwards, NY, given its rural market?
In Edwards, a rural area with a median home price well below the national average, many buyers can utilize conventional loans with a 3% down payment or FHA loans with 3.5% down. For properties on larger lots or with acreage, which are common here, some lenders may require a slightly higher down payment of 5-10% due to the unique nature of the collateral. Local credit unions familiar with the North Country market are often the most flexible.
Are there any special mortgage programs for first-time homebuyers in St. Lawrence County that apply in Edwards?
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 for eligible first-time buyers in St. Lawrence County, including Edwards. This is particularly valuable here as it can cover a significant percentage of a home's purchase price. You must use a participating lender and complete a homebuyer education course.
How does the appraisal process work for a unique or older property in Edwards?
Given Edwards' many historic and custom-built homes, appraisals can be more complex. Lenders will often require an appraiser with specific experience in rural and older properties, which may take longer to schedule and could cost slightly more. It's crucial to provide any records of updates (like a new well or septic) to help the appraiser accurately assess the value of these non-standard features.
What should I know about getting a mortgage for a property with land or agricultural use in Edwards?
Financing a property with significant acreage in Edwards often requires a specialized "rural" or "land loan" product, as standard conforming loans have limits on lot size. Local agricultural lenders, like Farm Credit East, or USDA Rural Development loans (if the home is modest and the buyer's income qualifies) are excellent options. Be prepared for a more detailed review of the land's value and potential use.
Are mortgage rates in Edwards, NY, different from the national average?
While national trends set the baseline, rates in Edwards can sometimes be slightly higher due to the smaller, less competitive local lending market and the perceived higher risk of rural properties. However, buyers can often secure competitive rates by shopping with regional banks and credit unions based in the North Country that understand the local real estate landscape, or by using a mortgage broker who has access to multiple lenders.
Why Choose a Mortgage Lender in Edwards?
Local Market Knowledge
Lenders who understand Edwards'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 Edwards and get competitive rates on your home loan.