The Best Mortgage Lenders in Fairport, NY
Compare verified mortgage lenders serving Fairport, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Fairport
Featured Mortgage Lenders
ESL Federal Credit Union
ESL Federal Credit Union
As Rochester's leading local credit union with over a century of service, ESL Federal Credit Union consistently ranks among the top mortgage lenders in the Greater Rochester area, including Fairport. They offer highly competitive rates with no origination fees on many loans and provide personalized service through local mortgage specialists who understand the Fairport housing market. Their strong community presence and member-focused approach have earned them exceptional customer satisfaction ratings and numerous local awards for mortgage lending excellence.
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NRL Mortgage
NRL Mortgage - Rochester Branch
NRL Mortgage's Rochester branch has established itself as one of the highest-rated mortgage brokers serving the Fairport area, with nearly perfect customer reviews highlighting their responsive service and competitive rates. They excel at guiding clients through complex loan scenarios and offer a wide variety of loan products with local underwriting expertise. Their team of experienced loan officers provides personalized attention throughout the mortgage process, making them particularly popular among Fairport homebuyers seeking customized financing solutions.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Pittsford Branch
Fairway Independent Mortgage's Pittsford location, just minutes from Fairport, has built an outstanding reputation for mortgage lending in the eastern suburbs. They combine the resources of a national lender with local expertise, offering competitive rates and innovative technology that streamlines the application process. Their loan officers are known for exceptional communication and closing loans on time, with particular strength in first-time homebuyer programs and refinancing. The local branch has received multiple awards for customer service and consistently maintains high satisfaction ratings among Fairport area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Fairport, NY
Are there any special mortgage programs for first-time homebuyers in Fairport, NY?
Yes, Fairport homebuyers can access the New York State Homes and Community Renewal (HCR) programs, including the Achieving the Dream (ATD) program, which offers down payment assistance up to $15,000. Additionally, Monroe County offers its own First Home Club program, providing matched savings grants for down payment and closing costs, which is particularly useful in Fairport's competitive market.
How do Fairport's property taxes impact my mortgage qualification and monthly payment?
Fairport, located within the Town of Perinton, has property tax rates that are a significant component of your monthly mortgage payment, often higher than the national average. Lenders will factor these taxes into your debt-to-income ratio, so it's crucial to get an accurate tax estimate early. The Village of Fairport portion adds an additional layer, so be sure to confirm whether a property is inside or outside the village boundaries for precise calculations.
What is a typical down payment needed for a home in Fairport's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Fairport's market are successfully purchasing with 3-5% down using conventional loans, or 3.5% with an FHA loan. Given the desirable school district and historic charm, competition can be stiff, so a stronger down payment can make your offer more attractive to sellers.
Are there specific lenders or credit unions in Fairport known for offering competitive mortgage rates?
Local institutions like ESL Federal Credit Union and Advantage Federal Credit Union often provide highly competitive mortgage rates and personalized service for Fairport residents. They have deep knowledge of the local Perinton/Fairport real estate market and may offer special relationship discounts for existing members.
Does buying a historic home in Fairport's village center affect my mortgage options?
Yes, purchasing a historic home, especially one that may need updates, can affect your loan choice. A standard mortgage might not suffice if the home requires significant repairs. In these cases, you might need to explore renovation loans like the FHA 203(k) or Fannie Mae HomeStyle loan, which are designed to finance both the purchase and the cost of renovations.
Nearby Cities
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Why Choose a Mortgage Lender in Fairport?
Local Market Knowledge
Lenders who understand Fairport'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 Fairport and get competitive rates on your home loan.