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Fort Drum, NY

The Best Mortgage Lenders in Fort Drum, NY

Compare verified mortgage lenders serving Fort Drum, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.

3
Top Lenders
4.7
Avg Rating
800+
Reviews
7
Loan Types

Available Loan Programs in Fort Drum

VA loans
Conventional mortgages
FHA loans
USDA loans
Jumbo loans
Refinancing
Home equity loans

Featured Mortgage Lenders

1

Fort Drum Federal Credit Union

Fort Drum Federal Credit Union

★★★★☆
4.7/5

Fort Drum Federal Credit Union is a top-rated local lender deeply embedded in the military community, offering specialized services tailored to service members and their families at Fort Drum. With over 70 years of experience, they provide personalized mortgage solutions, including VA loans with competitive rates and low or no down payment options. Their high customer satisfaction stems from dedicated local support, understanding of military benefits, and a strong commitment to the community. They are known for their reliability, easy application process, and excellent customer service, making them a trusted choice for home financing in the area.

Experience:71 years
Reviews:180 customer reviews
10790 Mt. Belvedere Blvd, Fort Drum, NY 13602

Loan Types:

VA loansConventional mortgagesFHA loansUSDA loansJumbo loansRefinancing
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2

Navy Federal Credit Union

Navy Federal Credit Union

★★★★☆
4.8/5

Navy Federal Credit Union is a highly reputable lender specializing in serving military personnel, including those stationed at Fort Drum. With nearly a century of experience, they offer a wide range of mortgage products with competitive rates and terms, particularly excelling in VA loans that cater to the unique needs of service members. Their high ratings reflect exceptional customer service, a user-friendly digital platform, and a deep understanding of military life. They provide nationwide support with a strong focus on customer satisfaction, fast approvals, and flexible options, making them a top choice for reliable and efficient home financing.

Experience:90 years
Reviews:500 customer reviews
820 Follin Lane, Vienna, VA 22180 (serves Fort Drum via online and phone services, with access to shared branches)

Loan Types:

VA loansConventional mortgagesFHA loansJumbo loansRefinancingHome equity loans
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3

Watertown Savings Bank

Watertown Savings Bank

★★★★☆
4.5/5

Watertown Savings Bank is a well-established local lender with a strong presence in the Fort Drum area, offering personalized mortgage services backed by over 120 years of community banking experience. They are highly rated for their competitive rates, attentive customer service, and deep local knowledge, including expertise in VA and conventional loans suitable for military families. Their commitment to the North Country region ensures reliable support throughout the home buying process, with a reputation for transparency, flexibility, and long-term customer relationships. This makes them a dependable option for those seeking a community-focused lender with a proven track record.

Experience:122 years
Reviews:120 customer reviews
228 Washington Street, Watertown, NY 13601

Loan Types:

Conventional mortgagesFHA loansVA loansUSDA loansHome equity loansRefinancing
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Frequently Asked Questions

Common questions about mortgage lending in Fort Drum, NY

Are there special mortgage programs for military and VA buyers in the Fort Drum area?

Yes, the Fort Drum housing market is heavily influenced by VA loans due to the large military population. Local lenders are highly experienced with VA financing, which offers benefits like no down payment and no private mortgage insurance. Additionally, New York State offers the "Homes for Veterans" program, which provides a cash grant for down payment and closing costs to eligible service members and veterans purchasing in the state.

How does a Permanent Change of Station (PCS) affect my mortgage if I'm buying near Fort Drum?

This is a critical consideration. Many lenders in the area offer specialized "PCS-friendly" or "SCRA" (Servicemembers Civil Relief Act) compliant loans that provide flexibility if you receive orders. It's essential to discuss deployment and relocation clauses upfront, and consider the potential of renting out the property in the future, which may influence your loan type and terms.

What are typical down payment requirements for homes in Jefferson County, given the military income structure?

While VA loans require $0 down, conventional loans in the Fort Drum area often have accessible down payment options. Many local buyers utilize conventional loans with 3-5% down. Furthermore, the New York State Homebuyer Dream Program (HDP) provides down payment assistance in the form of a forgivable loan, which is particularly helpful for first-time buyers using BAH as part of their qualifying income.

Are there specific neighborhoods or property types that are easier to finance with a VA loan near Fort Drum?

VA appraisals can be stricter, especially on older or unique properties common in Northern New York. Properties in established subdivisions like in the town of LeRay or newer builds in Watertown often meet VA Minimum Property Requirements (MPRs) more readily. Condos must be in a VA-approved project, so it's crucial to check the VA's approved list before making an offer on a condo unit.

How do lenders treat Basic Allowance for Housing (BAH) when qualifying for a mortgage in Fort Drum?

Most lenders in the Fort Drum area will count BAH as qualifying income, provided you have verifiable leave and earnings statements (LES) and sufficient time remaining on your service commitment. This is a standard practice for military lending here and significantly boosts purchasing power. It's important to work with a lender who has specific experience underwriting military income to ensure it is calculated correctly.

Mortgage Insights

Finding Your Guide: Why a Local Home Loan Agent is Essential for Fort Drum Homebuyers

Searching for "home loan agents near me" in the Fort Drum area is more than just a convenience—it's a strategic first step in your homebuying journey. For military personnel, veterans, and civilians connected to the base, the local housing market presents unique opportunities and challenges that a generic online lender simply won't understand. A local agent specializing in the Fort Drum and Northern New York region becomes your most valuable ally, translating your benefits and the local landscape into the keys to your new home.

The Fort Drum housing market is heavily influenced by its military presence. This creates a constant flow of relocation, a strong rental market, and specific neighborhoods that cater to military families. A local home loan agent understands this ebb and flow intimately. They can advise you on the long-term value of buying versus renting during a typical PCS cycle, and they know which areas offer the best resale potential or the smoothest commute to the base gates. They're also familiar with the specific appraisal challenges that can arise in more rural parts of Jefferson County, ensuring your loan process stays on track.

Your most powerful tool as a Fort Drum homebuyer is likely your VA loan benefit. While many lenders offer VA loans, a local agent with deep experience in them is crucial. They can expertly guide you through the Certificate of Eligibility (COE), ensure the property meets VA appraisal standards, and help you navigate the VA's funding fee (and any potential exemptions). Furthermore, New York State offers additional programs that a local expert can layer with your VA benefits. Programs like the SONYMA (State of New York Mortgage Agency) Low Interest Rate Mortgage or its Forgivable Advance program for down payment assistance can be combined with a VA loan in some cases, creating exceptional affordability. A local agent knows the specifics and eligibility requirements for these state-specific opportunities.

Here is your actionable plan: First, seek out agents who explicitly mention VA loans, military lending, or Fort Drum on their websites. Read local reviews and ask for referrals within your unit or community. When you interview potential agents, ask them these specific questions: "How many VA loans have you closed for buyers in Jefferson County in the last year?" "Can you explain how New York's property taxes and closing costs differ from other states?" and "What local lenders do you work with that are familiar with military pay structures?"

Choosing a home loan agent near Fort Drum means choosing a partner who gets it. They understand your timeline, your benefits, and the character of the towns from Watertown to Carthage. They don't just process paperwork; they provide the local intelligence you need to make a confident, smart investment in the North Country. Start your search locally, and you'll find not just a lender, but a guide.

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Why Choose a Mortgage Lender in Fort Drum?

Local Market Knowledge

Lenders who understand Fort Drum'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 Fort Drum and get competitive rates on your home loan.