The Best Mortgage Lenders in Nyack, NY
Compare verified mortgage lenders serving Nyack, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Nyack
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in the Hudson Valley region, including Nyack. Known for its competitive rates and digital mortgage process, the company has consistently high customer satisfaction ratings due to its efficient service, transparency, and wide range of loan options. With over two decades of experience, they specialize in both purchase and refinance loans, offering personalized support through local loan officers who understand the Nyack market. Their commitment to technology and customer service has earned them numerous industry awards and a reputation for reliability.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly regarded mortgage lender with a significant footprint in Rockland County and the Nyack area. They are praised for their exceptional customer service, flexible loan programs, and expertise in handling complex mortgage scenarios. With 20 years in business, they offer a comprehensive suite of loan products, including government-backed options, and are known for their responsive communication and competitive rates. Their local branch in Pearl River ensures personalized attention for Nyack residents, backed by a national network that provides stability and resources.
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LoanDepot
LoanDepot, LLC
LoanDepot is a reputable national mortgage lender with a strong regional presence that extends to Nyack, NY. They are recognized for their innovative technology, such as the mello smartloan platform, which streamlines the application process and offers competitive rates. With over a decade of experience, LoanDepot provides a wide array of loan types and is particularly noted for their refinancing expertise and helpful customer support. Their high review counts and customer satisfaction stem from a commitment to making home financing accessible and straightforward, with local loan officers available to assist Nyack homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Nyack, NY
Are there any special mortgage programs for first-time homebuyers in Nyack, NY?
Yes, New York State offers the SONYMA (State of New York Mortgage Agency) programs, which are popular in Nyack. These include the Low Interest Rate Program and the Achieving the Dream Program, which offer competitive rates and down payment assistance. Additionally, Rockland County may have local grants or assistance programs for income-eligible buyers purchasing in Nyack.
How does Nyack's location in a flood zone affect the mortgage process?
Given Nyack's proximity to the Hudson River, many properties are in FEMA-designated flood zones. This typically requires you to purchase flood insurance as a condition of your mortgage. Your lender will order a flood certification, and you should budget for this additional annual cost, which can be significant and varies based on the property's specific risk level.
What are typical down payment requirements for a mortgage on a Nyack historic home?
Financing a historic home in Nyack's charming downtown often requires a higher down payment, typically 20% or more, especially if the property needs updates or doesn't meet all modern building code standards. Lenders may have stricter appraisal requirements for these unique properties, so working with a lender experienced in historic homes in the Hudson Valley is crucial.
Are jumbo loans common in Nyack's housing market, and what are the requirements?
Yes, with median home prices well above the conforming loan limits, jumbo loans are very common in Nyack. For 2024, the conforming limit is $766,550 in Rockland County, so loans above this amount require a jumbo mortgage. These typically require stronger financial profiles, including excellent credit (often 700+), lower debt-to-income ratios, and larger cash reserves post-closing.
What local property tax considerations should I factor into my mortgage affordability in Nyack?
Property taxes in Nyack and the wider Town of Clarkstown are notably high, which directly impacts your total monthly payment. Your lender will include these taxes in your debt-to-income calculation. It's important to get an accurate estimate of the annual taxes on your desired property, as they can add $1,000 or more to your monthly payment compared to lower-tax areas.
Nearby Cities
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Why Choose a Mortgage Lender in Nyack?
Local Market Knowledge
Lenders who understand Nyack'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 Nyack and get competitive rates on your home loan.