The Best Mortgage Lenders in Medina, NY
Compare verified mortgage lenders serving Medina, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Medina
Featured Mortgage Lenders
Genesee Co-op Federal Credit Union Mortgage Department
Genesee Co-op Federal Credit Union
Genesee Co-op FCU is a highly-rated community credit union serving the Greater Rochester area including Medina. With exceptional member satisfaction ratings and personalized service, they offer competitive rates and a full range of mortgage products. Their local decision-making process and commitment to the Western NY community make them a top choice for Medina homebuyers seeking a cooperative lending approach with outstanding customer service.
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Premium Mortgage Corporation
Premium Mortgage Corporation
Premium Mortgage Corporation has built an excellent reputation throughout Western New York with multiple offices serving the Medina area. They consistently receive high marks for their responsive service, competitive rates, and expertise with various loan programs. As a regional mortgage specialist with deep roots in New York communities, they provide personalized attention and local underwriting that national lenders can't match, making them particularly strong for first-time homebuyers and construction loans.
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Fairway Independent Mortgage Corporation - Rochester Branch
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage maintains one of the highest customer satisfaction ratings in the industry and has a strong presence serving the Medina area through their Rochester branch. With numerous awards for excellence and a reputation for smooth, efficient loan processes, they combine the resources of a national lender with personalized local service. Their extensive experience with various loan types and commitment to competitive pricing makes them a top contender for Medina residents seeking reliable mortgage financing with exceptional customer support.
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Frequently Asked Questions
Common questions about mortgage lending in Medina, NY
What are the current mortgage rates like in Medina, NY, and how do they compare to the national average?
Mortgage rates in Medina typically align closely with national averages, but local lenders may offer competitive rates due to the community-focused banking environment. It's common to see rates slightly lower than in major metropolitan areas like Buffalo or Rochester, as lenders account for Medina's lower property values and stable market. Shopping among local credit unions, like the Medina Savings and Loan Association, can often yield favorable terms.
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Medina?
Yes, first-time homebuyers in Medina can access statewide programs like the SONYMA (State of New York Mortgage Agency) Achieving the Dream program, which offers low interest rates and down payment assistance. Additionally, the Orleans County Economic Development Agency may provide information on local grants or incentives for purchasing homes within the village limits, aimed at encouraging community growth and revitalization.
How does Medina's location along the Erie Canal and in Orleans County affect property appraisals and mortgage lending?
Proximity to the Erie Canal can be a double-edged sword; waterfront or canal-adjacent properties may appraise higher due to scenic value, but lenders might require additional flood insurance if the home is in a designated flood zone. Appraisers in Medina also consider the mix of historic homes and newer developments, with values influenced by the county's overall economic trends and the appeal of small-town living near major waterways.
What should I know about property taxes in Medina when calculating my monthly mortgage payment?
Property taxes in Medina and Orleans County are a significant factor, with rates typically higher than the national average but competitive within Western New York. As of recent data, the combined village and county tax rate can range around $30-$35 per $1,000 of assessed value. Your lender will include these in your escrow payment, so it's crucial to get an accurate estimate early to avoid payment shock.
Are there local lenders in Medina who understand the unique aspects of buying a historic home in the village?
Absolutely. Local banks and credit unions in Medina, such as Five Star Bank or Medina Savings and Loan, have experience with historic properties common in the village's downtown district. They can guide you on specific loan considerations, like potential higher insurance costs or renovation financing options, and may be more flexible with appraisal requirements for unique, older homes compared to larger national lenders.
Nearby Cities
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Why Choose a Mortgage Lender in Medina?
Local Market Knowledge
Lenders who understand Medina'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 Medina and get competitive rates on your home loan.