The Best Mortgage Lenders in Farmingville, NY
Compare verified mortgage lenders serving Farmingville, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Farmingville
Featured Mortgage Lenders
Michael D'Agostino
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Lake Grove office, located just minutes from Farmingville, is one of the highest-rated mortgage lenders on Long Island with nearly perfect customer satisfaction ratings. Led by experienced loan officer Michael D'Agostino, this branch specializes in serving Suffolk County homebuyers with personalized service and competitive rates. Their extensive loan product portfolio and strong local market knowledge make them a top choice for Farmingville residents seeking conventional, FHA, and specialized mortgage solutions with exceptional customer service.
Loan Types:
Mortgage Department
Bethpage Federal Credit Union
As one of Long Island's largest and most trusted financial institutions, Bethpage Federal Credit Union has been serving Farmingville and surrounding communities for over eight decades. Their mortgage division consistently receives outstanding ratings for competitive rates, transparent fee structures, and exceptional member service. With deep roots in the local community and a comprehensive range of mortgage products including specialized programs for first-time homebuyers, Bethpage offers the combination of credit union benefits with professional mortgage expertise that makes them a premier choice for Suffolk County home financing.
Loan Types:
Joseph R. Catti
NRL Mortgage
NRL Mortgage's Hauppauge location provides expert mortgage services to the Farmingville area with consistently high customer satisfaction ratings. Specializing in both purchase and refinance transactions, they offer personalized guidance through the entire mortgage process with particular expertise in complex loan scenarios and investment properties. Their local team understands the unique dynamics of the Suffolk County housing market and maintains strong relationships with real estate professionals throughout the region, ensuring smooth transactions and competitive financing solutions for Farmingville homebuyers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Farmingville, NY
What are the current mortgage rates like in Farmingville, NY, and how do they compare to the national average?
Mortgage rates in Farmingville are generally aligned with the broader Long Island and New York State averages, which can be slightly higher than the national average due to local market conditions and higher property values. As of recent trends, rates for a 30-year fixed mortgage in the area typically range within 0.25% to 0.5% above the national figure. It's crucial to shop locally, as lenders familiar with Suffolk County may offer competitive terms or specific programs.
Are there any specific first-time homebuyer programs available for residents of Farmingville, NY?
Yes, Farmingville homebuyers can access several New York State and Suffolk County programs. Key options include the SONYMA (State of New York Mortgage Agency) Achieving the Dream program, which offers low interest rates and down payment assistance. Additionally, the Suffolk County Community Development Office may offer grants or assistance programs for eligible buyers purchasing within the county, which can be applied to homes in Farmingville.
How does the property tax rate in Farmingville impact my mortgage qualification and monthly payment?
Farmingville is located within the Town of Brookhaven, which has some of the highest property tax rates on Long Island. Lenders will factor these significant taxes into your debt-to-income ratio, potentially reducing the loan amount you qualify for. Your monthly mortgage payment will include a substantial escrow portion for taxes, often adding hundreds of dollars more per month compared to many other regions, so budget accordingly.
What type of property insurance considerations are unique to getting a mortgage in Farmingville?
While not in a direct coastal flood zone, some areas of Farmingville can be affected by floodplain designations from nearby wetlands or streams. Your lender will require a review, and you may need to purchase separate flood insurance, which adds to your monthly costs. Additionally, given the prevalence of older homes, ensuring your insurance adequately covers potential issues like septic systems or older electrical wiring is important for mortgage approval.
Are there local credit unions or banks in the Farmingville area that offer special mortgage products for the community?
Yes, local institutions like Teachers Federal Credit Union (headquartered in nearby Hauppauge) and Bethpage Federal Credit Union often have strong community lending programs. They may offer special rate discounts, lower fees, or more flexible underwriting for members who live or work in Suffolk County. Building a relationship with a local lender can also provide advantages in understanding the specific appraisal and closing process in Brookhaven Town.
Why Choose a Mortgage Lender in Farmingville?
Local Market Knowledge
Lenders who understand Farmingville'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 Farmingville and get competitive rates on your home loan.