The Best Mortgage Lenders in Glen Oaks, NY
Compare verified mortgage lenders serving Glen Oaks, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Glen Oaks
Featured Mortgage Lenders
Michael Fazio
CrossCountry Mortgage, LLC
CrossCountry Mortgage has established itself as one of the top mortgage lenders serving the Glen Oaks area with their Lake Success office located just minutes away. With over 20 years in business, they offer a comprehensive range of loan products and are particularly noted for their exceptional customer service and competitive rates. Michael Fazio and his team specialize in helping buyers throughout Queens and Long Island navigate the complex New York real estate market, providing personalized guidance through every step of the mortgage process.
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Valley Bank Mortgage Team
Valley Bank
Valley Bank has deep roots in the New York metropolitan area and serves Glen Oaks residents with a full suite of mortgage products. As a regional bank with multiple branches throughout Long Island and Queens, they combine the personal service of a community bank with the resources of a larger institution. Their mortgage team is particularly recognized for their expertise in jumbo loans and construction financing, making them an excellent choice for the diverse housing needs of Glen Oaks homeowners. Their digital mortgage platform streamlines the application process while maintaining personal guidance.
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David Stein
Trident Mortgage Group
Trident Mortgage Group has built an outstanding reputation serving the Long Island and Queens markets, including Glen Oaks. With nearly two decades of experience, David Stein and his team are known for their exceptional communication and ability to close loans efficiently in the competitive New York market. They specialize in both purchase and refinance transactions, with particular expertise in helping first-time homebuyers navigate the complex process. Their local market knowledge and commitment to client education make them a top choice for Glen Oaks residents seeking personalized mortgage solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Glen Oaks, NY
What are the typical down payment requirements for buying a home in Glen Oaks, given its high property values?
For the median-priced home in Glen Oaks, a conventional loan typically requires a 20% down payment to avoid private mortgage insurance (PMI), which can be a significant sum. However, many local lenders offer specialized jumbo loan products for this market, which may have stricter requirements. First-time buyers should explore programs like SONYMA (State of New York Mortgage Agency) which can offer down payment assistance and competitive rates for qualified applicants in Queens.
Are there any specific mortgage programs or grants for first-time homebuyers in Glen Oaks, NY?
Yes, Glen Oaks residents have access to several New York State and New York City programs. Key options include SONYMA's Low Interest Rate Program and Achieving the Dream, which offer competitive rates and down payment assistance. Additionally, the NYC Housing Preservation & Development (HPD) offers HomeFirst Down Payment Assistance, providing up to $100,000 in a forgivable loan for eligible first-time buyers in NYC, which includes Glen Oaks in Queens.
How do property taxes in Glen Oaks, Queens, impact my mortgage payment and qualification?
Property taxes in Glen Oaks are a significant component of your monthly payment due to New York City's tax rates. Lenders will calculate your debt-to-income ratio including these taxes, which can affect how much home you qualify for. It's crucial to get an accurate estimate of the annual tax bill for your specific property, as taxes can vary even within the neighborhood, and factor this into your overall budget.
What should I know about getting a mortgage for a co-op apartment in Glen Oaks versus a single-family home?
Financing a co-op in Glen Oaks involves a "co-op loan" (share loan) rather than a traditional mortgage, as you're buying shares in a corporation. These loans often have higher interest rates, require a larger down payment (sometimes 20-25% minimum), and the co-op board's financial health and approval process are critical factors for lenders. For single-family homes, you secure a standard mortgage with the property as collateral, which typically offers more competitive rates and terms.
How does Glen Oaks' proximity to the Nassau County border and its suburban feel influence mortgage lending considerations?
While Glen Oaks has a suburban character, it is legally part of New York City (Queens County), which affects property taxes, transfer taxes, and available loan programs. Lenders are familiar with this dynamic and will underwrite based on NYC guidelines. Its desirability as a quiet, family-oriented neighborhood with good schools can support strong property values, which is favorable for loan-to-value ratios, but buyers should be prepared for NYC-level closing costs.
Nearby Cities
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Why Choose a Mortgage Lender in Glen Oaks?
Local Market Knowledge
Lenders who understand Glen Oaks'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 Glen Oaks and get competitive rates on your home loan.