The Best Mortgage Lenders in Naples, NY
Compare verified mortgage lenders serving Naples, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Naples
Featured Mortgage Lenders
Mortgage Specialist
Canandaigua National Bank & Trust
As the leading community bank in the Finger Lakes region, Canandaigua National Bank & Trust has served Naples and surrounding communities for over 135 years. They maintain exceptional 4.8-star ratings across multiple review platforms for their personalized mortgage services, local underwriting decisions, and deep understanding of the Naples real estate market. Their mortgage specialists live and work in the region, providing customized loan solutions with competitive rates and exceptional customer service that has earned them numerous local awards and recognition.
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Mortgage Services
ESL Federal Credit Union
ESL Federal Credit Union, while headquartered in Rochester, extensively serves the Naples area through their digital mortgage platform and regional presence. With over a century of operation, they've built a stellar reputation for competitive rates, low fees, and exceptional member service. Their mortgage team specializes in helping buyers navigate the unique aspects of rural and semi-rural properties common in the Naples area. They consistently receive high marks for their transparent process, educational resources, and commitment to making homeownership accessible.
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Mortgage Lending Team
Five Star Bank
Five Star Bank has deep roots in Western New York and specifically serves the Naples community through their regional banking centers. With over 170 years of community banking experience, they offer specialized mortgage products tailored to the Finger Lakes region, including construction loans for rural properties and vacation homes common in the Naples area. Their local loan officers provide personalized service with decision-making kept within the region, ensuring quick turnaround times and understanding of local market conditions. They maintain strong customer satisfaction ratings for their responsive service and competitive loan products.
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Frequently Asked Questions
Common questions about mortgage lending in Naples, NY
Are there any special mortgage considerations for buying a home near Canandaigua Lake or other Finger Lakes in Naples, NY?
Yes, waterfront or lake-adjacent properties in Naples often come with higher insurance requirements and potential flood zone designations, even if not in a FEMA high-risk area. Lenders may require a separate flood certification, and you should budget for higher homeowners insurance premiums. Additionally, property valuations can be more volatile, so a thorough, local appraisal is crucial.
What local or state programs are available to help first-time homebuyers in Naples, NY?
First-time homebuyers in Naples can access several New York State programs, such as the SONYMA (State of New York Mortgage Agency) Low Interest Rate and Achieving the Dream loans, which offer competitive rates and down payment assistance. Additionally, the Finger Lakes Regional Economic Development Council may support local initiatives; checking with a Naples-based lender or the Ontario County Planning Department is recommended for the most current local offerings.
How do seasonal tourism and the local economy impact mortgage lending and home values in Naples?
Naples's economy is heavily influenced by seasonal tourism (wine trails, fall foliage, and festivals), which can lead to income variability for self-employed residents. Lenders may require a two-year history of stable seasonal income for qualification. Property values are supported by vacation and second-home demand, but appraisals must carefully consider year-round comparable sales, not just peak-season prices.
What are typical property taxes for a mortgage in Naples, NY, and how do they affect loan qualification?
Property taxes in Naples and Ontario County are a significant factor, typically ranging from 2.5% to 3.5% of assessed value. These taxes are escrowed as part of your monthly mortgage payment, increasing your total debt-to-income ratio calculation. It's essential to get an accurate tax estimate early in the process, as high taxes can impact how much house you qualify for compared to other regions.
Are USDA Rural Development loans a viable option for mortgages in Naples, NY?
Absolutely. Most of the Naples area qualifies for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible borrowers and properties. This is a popular and advantageous program given Naples's rural setting, making homeownership more accessible. You must meet income limits and the home must be in an eligible zone, which a local lender can quickly verify.
Why Choose a Mortgage Lender in Naples?
Local Market Knowledge
Lenders who understand Naples'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 Naples and get competitive rates on your home loan.