The Best Mortgage Lenders in Himrod, NY
Compare verified mortgage lenders serving Himrod, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Himrod
Featured Mortgage Lenders
Tompkins Community Bank
Tompkins Community Bank
Tompkins Community Bank is a highly-rated regional bank with deep roots in the Finger Lakes region, serving Himrod and surrounding Yates County communities. They consistently receive excellent customer reviews for their personalized service and local decision-making capabilities. As a community-focused institution, they offer competitive rates and have specialized knowledge of the local real estate market, including rural properties common in the Himrod area. Their mortgage team provides comprehensive guidance through the entire home financing process.
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Five Star Bank
Five Star Bank
Five Star Bank has a strong presence throughout the Finger Lakes region with multiple branches serving Yates County, including the Himrod area. They are particularly noted for their expertise in rural and agricultural lending, making them an excellent choice for Himrod residents. Customers consistently praise their responsive service and competitive mortgage products. Their local loan officers understand the unique aspects of the local housing market and provide personalized attention throughout the mortgage process.
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Premium Mortgage Corporation
Premium Mortgage Corporation
Premium Mortgage Corporation is a Rochester-based mortgage lender that serves the entire Finger Lakes region, including Himrod. They have built an outstanding reputation over three decades for exceptional customer service and competitive rates. Specializing in various loan programs, they are particularly strong with first-time homebuyer programs and construction loans. Their experienced loan officers provide comprehensive support and have extensive knowledge of the upstate New York housing market, making them a top choice for Himrod area residents.
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Frequently Asked Questions
Common questions about mortgage lending in Himrod, NY
What are the typical down payment requirements for a home in Himrod, NY, given its rural market?
In Himrod's more affordable rural market, many conventional loans can be secured with a 5% down payment, though 20% is ideal to avoid private mortgage insurance (PMI). For eligible buyers, USDA loans offer a significant advantage with 0% down payment, as much of the area qualifies for this rural development program. Local lenders are familiar with property types in Yates County and can advise on the best option for your specific purchase.
Are there any first-time homebuyer programs specific to Himrod or Yates County that I should know about?
Yes, the New York State Homes and Community Renewal (HCR) offers the "Achieving the Dream" program, which provides down payment assistance and competitive rates, and is accessible to buyers in Himrod. Additionally, the "Pathway to Purchase" program can be particularly helpful. It's also wise to check with local credit unions like Lyons National Bank or Generations Bank, as they may offer special programs or grants for first-time buyers in their service area.
How does the property tax rate in Himrod, NY, affect my mortgage qualification and monthly payment?
Yates County and the Town of Himrod have property tax rates that are moderate for New York State but still a significant factor in your debt-to-income ratio. Lenders will calculate your estimated monthly tax escrow payment, which can add several hundred dollars to your monthly mortgage obligation. It's crucial to get a clear estimate of taxes for your specific property during the pre-approval process to ensure you budget accurately.
What type of property appraisals are common for Himrod's mix of homes and land, and could this impact my loan?
Given Himrod's rural character with properties often on larger lots, appraisals may be more complex than for a standard suburban home. Lenders will require an appraisal that considers the value of the land, any outbuildings, and the home itself, which can sometimes lead to challenges if comparable sales ("comps") are scarce. Using a local lender familiar with the Finger Lakes region can help streamline this process.
Is a USDA loan a good option for buying a home in Himrod, and what are the eligibility requirements?
USDA loans are an excellent option for many Himrod homebuyers, as the area is designated eligible for this 100% financing, no-down-payment program. Eligibility is based on the property location (which qualifies), household income limits for Yates County, and the home being your primary residence. Given the area's income levels and rural designation, many buyers in Himrod successfully utilize this advantageous program.
Why Choose a Mortgage Lender in Himrod?
Local Market Knowledge
Lenders who understand Himrod'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 Himrod and get competitive rates on your home loan.