The Best Mortgage Lenders in Islandia, NY
Compare verified mortgage lenders serving Islandia, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Islandia
Featured Mortgage Lenders
Michael D'Ambrosio
Guild Mortgage - Long Island
Michael D'Ambrosio with Guild Mortgage is one of the highest-rated mortgage professionals serving the Islandia area, with nearly two decades of experience. Guild Mortgage has been in business since 1960 and maintains an exceptional reputation on Long Island. They specialize in all loan types including government-backed loans and first-time homebuyer programs, with particular expertise in Suffolk County real estate. Their 4.9-star rating across hundreds of reviews reflects consistent customer satisfaction and reliable service throughout the mortgage process.
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Joseph Sorbara
NRL Mortgage
Joseph Sorbara at NRL Mortgage serves the Islandia and greater Suffolk County area with exceptional mortgage services. With over a decade of experience and hundreds of successful closings, they maintain a 4.8-star rating for their personalized approach and competitive rates. NRL Mortgage has been operating since 2007 and specializes in both purchase and refinance transactions, with particular strength in conventional and government loan programs. Their local expertise and commitment to customer service make them a top choice for Islandia homebuyers.
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CrossCountry Mortgage Long Island
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Long Island branch has been serving the Islandia area and surrounding communities since 2003, building a strong reputation for competitive rates and exceptional customer service. With nearly two decades of experience in the New York mortgage market, they offer a comprehensive range of loan products and maintain a 4.7-star rating across multiple review platforms. Their team of experienced loan officers provides personalized guidance through the entire mortgage process, from application to closing, making them a trusted choice for Suffolk County homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Islandia, NY
What are the typical down payment requirements for a mortgage in Islandia, NY, given its median home price?
For Islandia's median home price, which is above the Suffolk County average, a standard conventional loan typically requires a 20% down payment to avoid private mortgage insurance (PMI). However, many local lenders offer programs with as little as 3-5% down for qualified buyers, though this will significantly increase your monthly payment and require PMI. It's crucial to get pre-approved with a lender familiar with Long Island's high-cost market to understand your specific options.
Are there any specific first-time homebuyer programs or grants available for Islandia, NY, residents?
Yes, Islandia homebuyers can access several New York State and Suffolk County programs. Key options include the SONYMA (State of New York Mortgage Agency) Achieving the Dream program, which offers low interest rates and down payment assistance, and the Suffolk County Community Development Office grants for first-time buyers. Eligibility often depends on income limits and completing a homebuyer education course.
How does Islandia's location within a Special Flood Hazard Area (SFHA) affect the mortgage process?
Many homes in Islandia, particularly those near the Connetquot River or other waterways, are in FEMA-designated flood zones. This will require you to purchase mandatory flood insurance as a condition of your mortgage, which adds a significant annual cost (often $1,000-$3,000+). Your lender will order a flood certification, and this insurance must be in place before closing.
What should I know about property taxes in Islandia when calculating my total mortgage payment?
Property taxes in Islandia (within the Town of Islip) are a major component of your monthly escrow payment and are notably high, averaging well above the national average. When getting pre-approved, lenders will factor in these taxes to determine your debt-to-income ratio. It's essential to get an accurate estimate of the annual taxes for your specific prospective home, as they can add hundreds of dollars to your monthly obligation.
Are jumbo loans common in Islandia, and what are the requirements?
Yes, jumbo loans are very common in Islandia due to home values often exceeding the conforming loan limits set by Fannie Mae and Freddie Mac ($$1,149,825 for Suffolk County in 2024). Jumbo loans typically require stronger financial profiles, including higher credit scores (often 700+), lower debt-to-income ratios, and larger down payments (usually 20-30%). You'll want to work with a lender who has robust jumbo loan products and local underwriting expertise.
Nearby Cities
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Why Choose a Mortgage Lender in Islandia?
Local Market Knowledge
Lenders who understand Islandia'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 Islandia and get competitive rates on your home loan.