The Best Mortgage Lenders in Oceanside, NY
Compare verified mortgage lenders serving Oceanside, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Oceanside
Featured Mortgage Lenders
CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly-rated national lender with a strong local presence on Long Island, known for its competitive rates and personalized service. They have extensive experience serving the Oceanside area, offering a wide range of loan options and a commitment to customer satisfaction. Their Melville office provides convenient access for Nassau County residents, and they are praised for their efficient processing and knowledgeable loan officers.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender renowned for its digital mortgage experience and exceptional customer service. With a significant presence in the New York metro area, they serve Oceanside residents through local loan officers and competitive products. Their high ratings stem from transparency, speed, and a user-friendly online platform, making them a preferred choice for homebuyers in Nassau County.
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loanDepot
loanDepot, LLC
loanDepot is a nationally recognized lender with a robust local footprint in New York, offering competitive rates and a seamless online application process for Oceanside homebuyers. They are known for their innovation in mortgage technology and dedicated customer support, with loan specialists available to guide clients through various loan options. Their strong review ratings reflect reliability and efficiency in serving the Long Island community.
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Frequently Asked Questions
Common questions about mortgage lending in Oceanside, NY
What are the typical down payment requirements for buying a home in Oceanside, NY, given its competitive market?
In Oceanside's competitive Nassau County market, a 20% down payment is standard to avoid private mortgage insurance (PMI) and strengthen your offer. However, many local lenders offer conventional loans with down payments as low as 3-5% for qualified buyers, and FHA loans with 3.5% down are also common, especially for first-time buyers. Be prepared for bidding wars where a larger down payment can make your offer more attractive to sellers.
Are there any specific first-time homebuyer programs or grants available for Oceanside residents?
Yes, Oceanside buyers can access several New York State and Nassau County programs. The SONYMA (State of New York Mortgage Agency) offers low-interest rate mortgages, down payment assistance, and the "Achieving the Dream" program for first-time buyers in target areas. Additionally, the Nassau County Homeownership Program provides down payment assistance in the form of a forgivable loan for income-eligible first-time buyers purchasing within the county, including Oceanside.
How do property taxes in Oceanside impact my mortgage qualification and monthly payment?
Oceanside has notably high property taxes, typical of Nassau County, which significantly affect your debt-to-income (DTI) ratio and monthly escrow payment. Lenders will carefully calculate these taxes (often $10,000-$20,000+ annually) when determining how much you can borrow. It's crucial to budget for this, as your total monthly mortgage payment (PITI) will be heavily weighted toward taxes and insurance, not just principal and interest.
What should I know about getting a mortgage for a home in Oceanside's flood zones?
Due to Oceanside's coastal location, many homes are in FEMA-designated flood zones (typically Zone AE or VE). This will require you to purchase separate flood insurance, which your lender will mandate and include in your monthly escrow payment. This additional cost, which can be significant, must be factored into your affordability calculations and can affect your loan approval amount.
Are jumbo loans common in Oceanside, and what are the requirements?
Yes, jumbo loans are very common in Oceanside as home prices frequently exceed the conforming loan limits set by FHFA ($1,149,825 for Nassau County in 2024). Jumbo loans typically require stronger financial profiles: excellent credit (often 700+), a down payment of 10-20% or more, lower DTI ratios, and substantial cash reserves (often 6-12 months of mortgage payments). Local lenders are very experienced in structuring these loans.
Nearby Cities
Explore mortgage lenders in cities near Oceanside, NY
Why Choose a Mortgage Lender in Oceanside?
Local Market Knowledge
Lenders who understand Oceanside'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 Oceanside and get competitive rates on your home loan.