The Best Mortgage Lenders in Katonah, NY
Compare verified mortgage lenders serving Katonah, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Katonah
Featured Mortgage Lenders
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC - White Plains Branch
CrossCountry Mortgage is a nationally recognized lender with a strong local presence in Westchester County. Their White Plains branch serves Katonah and the surrounding areas with exceptional customer service and competitive rates. They are particularly noted for their expertise in jumbo loans, which are common in the high-cost Westchester County market. With over 20 years of experience and hundreds of positive reviews, they offer personalized service and a wide range of loan products including specialized programs for first-time homebuyers and various refinancing options.
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M&T Bank Mortgage
M&T Bank
M&T Bank has been serving the Westchester County community for decades with multiple branches throughout the region, including nearby Mount Kisco which serves Katonah residents. As a established regional bank with deep roots in New York, they offer competitive mortgage rates and personalized service. Their mortgage specialists are known for providing expert guidance through the entire home buying process, with particular strength in construction loans and jumbo mortgages. The bank's longevity and strong community presence make them a trusted choice for Katonah homebuyers.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a leading digital mortgage lender with a strong physical presence in White Plains, serving the Katonah area with innovative technology and competitive pricing. They are particularly known for their efficient online application process and quick closing times, while maintaining personalized service through local mortgage experts. Their digital platform allows for easy document upload and real-time rate checking, making the mortgage process more transparent and convenient. With extensive experience in the Westchester County market, they excel at handling complex loan scenarios and offer a wide variety of mortgage products.
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Frequently Asked Questions
Common questions about mortgage lending in Katonah, NY
Are mortgage rates in Katonah, NY, typically higher than the national average?
Yes, mortgage rates in Katonah and the broader Westchester County area can be slightly above the national average due to the high property values and competitive market. However, securing a competitive rate is highly dependent on your credit profile, down payment, and the specific lender you choose. It's especially important to shop around with both local banks and national lenders serving the area.
What local down payment assistance or first-time homebuyer programs are available in Katonah?
While Katonah itself doesn't have a town-specific program, homebuyers should explore the **Westchester County Homeownership Program**, which offers down payment assistance to eligible first-time buyers. Additionally, New York State's **SONYMA** programs offer low-interest mortgages with down payment assistance, which are applicable for qualified buyers purchasing in Katonah.
How does Katonah's historic district status affect the mortgage process for certain homes?
Purchasing a home within Katonah's designated historic district can add a layer of complexity. Lenders may require specialized appraisals to assess the value of historic properties accurately. Furthermore, if you plan to make renovations, you must ensure compliance with historic preservation guidelines, which could influence the loan terms or require a specialized renovation loan product.
What is a typical down payment percentage needed for a single-family home in Katonah's competitive market?
Given Katonah's high median home price, a 20% down payment is often standard to avoid private mortgage insurance (PMI) and make offers more competitive. However, it is possible to secure conventional loans with as little as 5-10% down, and jumbo loans (common here) may require 10-20% or more, depending on the lender and your financial strength.
Are jumbo loans common for mortgages in Katonah, and what should I know about them?
Absolutely. Due to home prices regularly exceeding the conforming loan limits ($$1,149,825 for Westchester County in 2024), jumbo loans are very common in Katonah. These loans often have stricter credit and reserve requirements (e.g., 12-24 months of mortgage payments in liquid assets). Interest rates for jumbos can be competitive with or sometimes even lower than conforming rates for well-qualified borrowers.
Nearby Cities
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Why Choose a Mortgage Lender in Katonah?
Local Market Knowledge
Lenders who understand Katonah'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 Katonah and get competitive rates on your home loan.