The Best Mortgage Lenders in Merrick, NY
Compare verified mortgage lenders serving Merrick, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Merrick
Featured Mortgage Lenders
Michael Fazio
CrossCountry Mortgage, LLC
Michael Fazio at CrossCountry Mortgage is one of Long Island's most highly-rated mortgage professionals, serving the Merrick area with exceptional customer service and competitive rates. With over two decades of experience and nearly 200 glowing reviews, he specializes in guiding clients through the entire mortgage process with personalized attention. The company offers a comprehensive range of loan products and is particularly praised for their responsiveness, transparency, and ability to close loans efficiently.
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NMLS# 399798
Bethpage Federal Credit Union
As one of Long Island's largest and most trusted credit unions, Bethpage FCU has been serving the Merrick community for decades with exceptional mortgage services. With consistently high ratings and hundreds of positive reviews, they offer competitive rates and personalized service. Their mortgage specialists are known for providing clear guidance throughout the home buying process, and as a credit union, they often provide better terms and lower fees than traditional banks.
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Joseph Pizzirusso
Guaranteed Rate
Joseph Pizzirusso at Guaranteed Rate is a top-rated mortgage expert serving the Merrick area with exceptional service and competitive loan options. With nearly two decades of experience and hundreds of satisfied clients, he's known for his expertise in complex loan scenarios and first-time homebuyer programs. Guaranteed Rate's digital mortgage platform combined with Joseph's personalized service creates a streamlined experience that clients consistently praise in their reviews for efficiency and professionalism.
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Frequently Asked Questions
Common questions about mortgage lending in Merrick, NY
Are there any special mortgage programs or grants for first-time homebuyers in Merrick, NY?
Yes, Merrick homebuyers can access several Long Island-specific programs. The Nassau County Homeownership Program offers down payment assistance to eligible first-time buyers. Additionally, the State of New York Mortgage Agency (SONYMA) provides low-interest rate loans and down payment assistance, which are highly relevant given Merrick's higher-than-average home prices.
How do Merrick's property taxes impact my mortgage qualification and monthly payment?
Merrick, located within the Town of Hempstead, has notably high property taxes, which are a critical factor in your debt-to-income (DTI) ratio. Lenders will carefully scrutinize the tax burden, as it can significantly increase your total monthly PITI (Principal, Interest, Taxes, Insurance) payment, sometimes requiring a higher income to qualify for the same loan amount compared to areas with lower taxes.
What is a typical down payment expectation for a single-family home in Merrick's competitive market?
While 20% down is ideal to avoid Private Mortgage Insurance (PMI), Merrick's competitive market often sees successful conventional loan offers with 10-15% down. For the town's median home price, this represents a substantial cash requirement, so buyers should be prepared. Strong offers may need to demonstrate robust savings beyond just the down payment.
Are jumbo loans common in Merrick, and what are the specific requirements?
Yes, jumbo loans are very common in Merrick, as home prices frequently exceed the conforming loan limits set by Fannie Mae and Freddie Mac ($$1,149,825 for 2024 in Nassau County). Lenders typically require excellent credit (often 700+), a lower DTI ratio, and larger down payments (sometimes 20-30%) for jumbo mortgages in this desirable South Shore community.
Does Merrick's location in a FEMA flood zone affect the mortgage process?
Parts of Merrick, especially those closer to the water, are in designated flood zones. This will require you to purchase flood insurance as a condition of your mortgage. Your lender will mandate a flood certification, and this additional insurance cost must be factored into your monthly housing expense and DTI calculation during the pre-approval process.
Why Choose a Mortgage Lender in Merrick?
Local Market Knowledge
Lenders who understand Merrick'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 Merrick and get competitive rates on your home loan.