The Best Mortgage Lenders in Hastings, NY
Compare verified mortgage lenders serving Hastings, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hastings
Featured Mortgage Lenders
Hudson Valley Credit Union
Hudson Valley Credit Union
Hudson Valley Credit Union is one of the most highly-rated mortgage lenders serving the Hastings area with exceptional customer satisfaction scores. As a local credit union deeply embedded in the Hudson Valley community, they offer personalized service and competitive rates that often beat larger national banks. Their mortgage specialists provide comprehensive guidance through the entire home buying process, from pre-approval to closing. With multiple branch locations throughout Westchester County and the Hudson Valley region, they maintain strong local presence and understanding of the Hastings real estate market. Their extensive loan product portfolio and member-focused approach make them a top choice for homebuyers in the area.
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Homestead Funding Corp.
Homestead Funding Corp.
Homestead Funding Corporation is a highly respected mortgage lender with extensive experience serving the Hudson Valley region, including Hastings. With nearly three decades in business, they've built an outstanding reputation for exceptional customer service and competitive mortgage products. They specialize in first-time homebuyer programs and offer a wide range of loan options with personalized attention throughout the entire mortgage process. Their team of experienced loan officers provides local market expertise and works closely with real estate agents throughout Westchester County. The company consistently receives top ratings for their responsive communication, streamlined process, and ability to close loans efficiently.
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M&T Bank Mortgage
M&T Bank
M&T Bank has been a trusted mortgage lender in the New York market for decades with multiple branches serving the Hastings area. They offer comprehensive mortgage solutions with competitive rates and local decision-making capabilities. Their experienced mortgage bankers provide personalized service and deep knowledge of the Westchester County housing market. M&T Bank is particularly strong in conventional and jumbo loan products, making them an excellent choice for the higher-priced housing market in the Hastings area. With their long-standing presence in the region and commitment to community banking, they provide reliable mortgage services backed by the stability of an established financial institution that understands local market conditions.
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Frequently Asked Questions
Common questions about mortgage lending in Hastings, NY
What are typical down payment requirements for homes in Hastings-on-Hudson, given its higher-than-average home prices?
In Hastings, where the median home price is significantly above the national average, a standard 20% down payment is common to avoid private mortgage insurance (PMI). However, many local lenders offer conventional loans with down payments as low as 10% or even 5% for well-qualified buyers, and FHA loans with 3.5% down are also an option, though they may be less competitive in a multiple-offer situation common in this desirable Westchester market.
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Hastings, NY?
Yes, Hastings homebuyers can access several Westchester County and New York State programs. Key options include the "Achieving the Dream" program, which offers down payment assistance up to $25,000 for eligible buyers in Westchester, and the SONYMA (State of New York Mortgage Agency) Low Interest Rate program, which provides competitive rates and down payment assistance. Eligibility is based on income and purchase price limits, which are adjusted for the county.
How does Hastings' proximity to the Metro-North station impact the mortgage appraisal and lending process?
Proximity to the Hastings-on-Hudson Metro-North station is a significant positive factor in appraisals, as it provides a direct commute to Manhattan. Lenders and appraisers recognize this premium, and homes within a 0.5-mile radius often command higher valuations. Be prepared for your appraisal to heavily weigh comparable sales ("comps") of other homes near the train line to justify the purchase price in your mortgage application.
What should I know about property taxes in Hastings when calculating my debt-to-income ratio for a mortgage?
Hastings-on-Hudson has notably high property taxes, which are a critical component of your monthly payment. When a lender calculates your debt-to-income (DTI) ratio, these taxes (combined with village taxes) will significantly impact how much home you can qualify for. It's essential to get an accurate estimate of the current tax bill for any property you're considering and factor that into your budget early in the pre-approval process.
Are jumbo loans common in Hastings, and what are the specific requirements for them?
Yes, jumbo loans (which exceed the conforming loan limit of $1,149,825 for Westchester County in 2024) are very common in Hastings due to its high home values. Requirements are typically stricter than for conforming loans, often requiring excellent credit (FICO scores of 740+), a down payment of 20-30%, significant cash reserves (often 12-18 months of payments), and a more thorough income verification process. Local lenders with experience in Westchester are adept at handling these loans.
Why Choose a Mortgage Lender in Hastings?
Local Market Knowledge
Lenders who understand Hastings'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 Hastings and get competitive rates on your home loan.