The Best Mortgage Lenders in Harrison, NY
Compare verified mortgage lenders serving Harrison, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Harrison
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in Westchester County, serving Harrison, NY. Known for its competitive rates and efficient online application process, the company has built a reputation for excellent customer service and transparency. With over two decades of experience, they offer a wide range of loan products and have consistently high customer satisfaction ratings, making them a reliable choice for homebuyers in the area.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly regarded mortgage lender with a dedicated office in White Plains, providing comprehensive services to Harrison, NY residents. They excel in personalized customer care and offer flexible loan options, including specialized programs for first-time homebuyers. With two decades of industry experience, they maintain strong local relationships and have a track record of smooth, timely closings, supported by numerous positive reviews highlighting their responsiveness and expertise.
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New American Funding
New American Funding
New American Funding is a reputable mortgage lender with a regional office in Tarrytown, conveniently serving the Harrison, NY area. They are praised for their diverse loan portfolio and commitment to community outreach, including programs for low-to-moderate income borrowers. With 20 years in business, they offer competitive rates and a streamlined application process, backed by a team of local experts who provide tailored advice and high customer satisfaction, as reflected in their strong review scores.
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Frequently Asked Questions
Common questions about mortgage lending in Harrison, NY
What are the typical down payment requirements for a home in Harrison, NY, given the high property values?
For Harrison's luxury market, where median home prices are well above the national average, a 20% down payment is standard to avoid private mortgage insurance (PMI). However, for conforming loans under the Westchester County limit ($1,149,825 for 2024), some lenders may accept 10% down with PMI. For jumbo loans, which are common here, lenders often require 20-30% down due to the higher loan amounts and risk.
Are there any local or county-specific first-time homebuyer programs available in Harrison?
Yes, the New York State Homes and Community Renewal (HCR) offers the "Achieving the Dream" program, which provides down payment assistance and competitive rates, applicable in Westchester County. Additionally, the County itself offers mortgage tax exemptions for first-time buyers on properties under a certain value, which can lead to significant savings at closing in a high-cost area like Harrison.
How does Harrison's property tax rate impact mortgage qualification and monthly payments?
Harrison has notably high property taxes, often exceeding 2% of the home's assessed value. Lenders will include this estimated monthly tax escrow in your debt-to-income (DTI) ratio calculation, which can significantly reduce the loan amount you qualify for. It's crucial to get an accurate tax estimate early in your search, as it can add thousands to your monthly payment.
What type of property appraisal challenges are unique to the Harrison, NY real estate market?
Appraisals in Harrison can be complex due to the prevalence of unique, high-value custom homes and significant property-to-property variation. An appraiser must find truly comparable recent sales ("comps"), which can be difficult in low-inventory neighborhoods. This sometimes leads to appraisal gaps, where the appraised value comes in below the contract price, requiring buyers and sellers to renegotiate or the buyer to cover the difference.
Is it common to use jumbo loans in Harrison, and how do their rates compare to conventional conforming loans?
Yes, jumbo loans are extremely common in Harrison, as most home prices exceed the conforming loan limit. While jumbo loan rates were historically higher, they have recently been competitive with or even slightly lower than conforming rates for well-qualified borrowers (excellent credit, low DTI, substantial assets). You'll need to demonstrate significant reserves—often 12-18 months of mortgage payments—to qualify.
Why Choose a Mortgage Lender in Harrison?
Local Market Knowledge
Lenders who understand Harrison'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 Harrison and get competitive rates on your home loan.