The Best Mortgage Lenders in Jordan, NY
Compare verified mortgage lenders serving Jordan, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Jordan
Featured Mortgage Lenders
NBT Bank Mortgage Department
NBT Bank, N.A.
NBT Bank has been serving Central New York communities for over 160 years with a strong local presence throughout the Jordan area. As a community-focused regional bank, they offer personalized mortgage services with local decision-making and competitive rates. Their mortgage specialists have deep knowledge of the local real estate market and provide comprehensive guidance through the entire home financing process. NBT is particularly strong with first-time homebuyer programs and offers flexible loan options with local underwriting expertise that national lenders can't match.
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Empower Federal Credit Union Mortgage Team
Empower Federal Credit Union
As one of Central New York's largest credit unions, Empower FCU has been serving the Jordan community and surrounding areas for over 100 years. They offer highly competitive mortgage rates for members, with exceptional customer service ratings and local processing. Their mortgage specialists provide personalized guidance and flexible loan programs, including special first-time homebuyer initiatives and low down payment options. Members consistently praise their transparent process, responsive communication, and commitment to finding the right mortgage solution for individual needs.
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Sterling National Bank Mortgage Division
Sterling National Bank (now part of Webster Bank)
With deep roots in New York State, Sterling National Bank (now operating as Webster Bank) has been serving the Central New York region including Jordan for decades. They offer a comprehensive range of mortgage products with local expertise and competitive pricing. Their mortgage team is known for providing exceptional customer service with streamlined processing and clear communication throughout the loan process. They specialize in both purchase and refinance transactions with flexible underwriting and local decision-making capabilities that benefit Jordan area homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Jordan, NY
What are the typical down payment requirements for homes in Jordan, NY, given its market?
For the Jordan area, which is more affordable than major metro areas, conventional loans with 5-10% down are common. However, many local lenders encourage a 20% down payment to avoid private mortgage insurance (PMI), especially on properties in the village's historic districts where appraisals can be more stringent. USDA Rural Development loans, which offer 0% down, are also a popular option as Jordan qualifies for this program.
Are there any special mortgage programs for first-time homebuyers in Jordan?
Yes, New York State's SONYMA (State of New York Mortgage Agency) programs are widely accessible in Jordan. Programs like the Low Interest Rate Program or the Achieving the Dream Program can provide competitive rates and down payment assistance. Additionally, the Cayuga County Home Fund may offer grants for closing costs and down payments to eligible buyers in the county, including Jordan.
How do property taxes in the Town/Village of Jordan impact mortgage affordability?
Property taxes in the Jordan-Elbridge Central School District and Town of Jordan are a significant factor in your total monthly payment. Lenders will carefully calculate your debt-to-income ratio including these taxes, which are typically higher than the national average for New York. It's crucial to get a precise tax estimate from your real estate agent, as escrow payments for taxes can add several hundred dollars to your monthly mortgage payment.
What should I know about getting a mortgage for a historic home in Jordan's village center?
Financing a historic home in Jordan may require a specialized appraisal and a thorough inspection, as lenders will be cautious about the condition of older systems (plumbing, electrical, roofing). You may not be able to use certain streamlined loan programs like FHA 203(k) if the home needs significant renovation. Working with a local lender familiar with the character of homes in villages like Jordan is highly recommended.
How does Jordan's location in a USDA-eligible area benefit homebuyers?
Jordan's designation as a USDA-eligible rural area is a major advantage. The USDA Guaranteed Loan Program offers 100% financing (no down payment), competitive interest rates, and more flexible credit guidelines compared to conventional loans. This makes homeownership far more accessible, especially for buyers with moderate incomes looking at single-family homes in the town or surrounding countryside.
Why Choose a Mortgage Lender in Jordan?
Local Market Knowledge
Lenders who understand Jordan'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 Jordan and get competitive rates on your home loan.