The Best Mortgage Lenders in Lansing, NY
Compare verified mortgage lenders serving Lansing, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Lansing
Featured Mortgage Lenders
Tompkins Community Bank Mortgage Department
Tompkins Community Bank
Tompkins Community Bank is one of the most established and highly-rated local lenders serving the Lansing area, with deep roots in the Finger Lakes region. As a community bank with over 185 years of service, they offer personalized mortgage solutions with local underwriting and decision-making. Their mortgage team receives exceptional reviews for responsive service, competitive rates, and guiding borrowers through the entire process. They specialize in first-time homebuyer programs and offer a comprehensive range of loan products with the advantage of local servicing throughout the loan life.
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Alternatives Federal Credit Union Mortgage Team
Alternatives Federal Credit Union
Alternatives Federal Credit Union has built an outstanding reputation for mortgage lending in the Lansing and greater Ithaca area, particularly known for their community-focused approach and exceptional member service. They consistently receive high marks for their educational approach to homebuying, offering workshops and one-on-one guidance. Their mortgage specialists are praised for making the complex mortgage process understandable and stress-free. As a not-for-profit cooperative, they often offer competitive rates and terms, with special programs for first-time buyers and underserved communities.
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CFCU Community Credit Union Mortgage Services
CFCU Community Credit Union
CFCU Community Credit Union is one of the largest and most respected credit unions in the Finger Lakes region, serving Lansing residents with comprehensive mortgage services. With over six decades of community banking experience, they offer competitive rates and personalized service through local mortgage experts. Members consistently praise their efficient processing, transparent communication, and knowledgeable loan officers who understand the local real estate market. They offer a wide array of mortgage products with the advantage of local decision-making and ongoing relationship management.
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Frequently Asked Questions
Common questions about mortgage lending in Lansing, NY
Are mortgage rates in Lansing, NY, typically higher than the national average?
Mortgage rates in Lansing are generally aligned with national averages, as they are set by broader economic factors. However, your specific rate will depend heavily on your credit profile, loan type, and down payment. Working with a local lender familiar with Tompkins County can help you find the most competitive offers available.
What local or county-level down payment assistance programs are available for first-time homebuyers in Lansing?
Homebuyers in Lansing can access the "Community Housing Trust Fund" administered by Tompkins County. This program offers deferred, forgivable loans for down payment and closing cost assistance to income-eligible first-time buyers. Additionally, the New York State Homes and Community Renewal (HCR) offers statewide programs like the "Achieving the Dream" grant that are accessible to Lansing residents.
How does the proximity to Cornell University and Ithaca affect the mortgage lending process and home values in Lansing?
The stable demand from university faculty, staff, and graduate students helps support property values in Lansing, which lenders view favorably. However, appraisals can be challenging due to the unique mix of rural properties and higher-priced homes with views of Cayuga Lake, making it crucial to work with an appraiser experienced in the local market.
Are there specific mortgage considerations for buying a home with significant acreage or agricultural land in Lansing?
Yes, purchasing a property with more than a few acres may require a specialized "rural" or "non-conforming" loan, as many conventional loans have limits on land value. Lenders will scrutinize the property's usable value versus its agricultural or undeveloped land value. Programs like the USDA Rural Development loan can be an excellent fit for eligible properties and borrowers in Lansing.
What should I know about property taxes and escrow when getting a mortgage in Lansing, NY?
Property taxes in the Town of Lansing and the Lansing Central School District are a significant component of your monthly payment. Tompkins County property taxes are relatively high compared to national averages, which will affect your debt-to-income ratio calculation. Your lender will establish an escrow account to pay these taxes, and it's wise to review the town's assessment history for your target property.
Why Choose a Mortgage Lender in Lansing?
Local Market Knowledge
Lenders who understand Lansing'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 Lansing and get competitive rates on your home loan.