The Best Mortgage Lenders in Old Westbury, NY
Compare verified mortgage lenders serving Old Westbury, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Old Westbury
Featured Mortgage Lenders
Michael T. Pizzi
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Garden City office, led by Senior Loan Officer Michael T. Pizzi, is one of the highest-rated mortgage lenders serving Old Westbury and the broader Long Island area. With exceptional 4.9-star ratings across multiple platforms, this branch specializes in luxury home financing and jumbo loans perfectly suited for Old Westbury's high-value properties. Their team offers personalized service with extensive experience in Nassau County's unique real estate market, providing competitive rates and streamlined processing for both purchase and refinance transactions.
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Ross Mortgage Investment Corp
Ross Mortgage Investment Corp
As a premier local mortgage broker established in 1994, Ross Mortgage Investment Corp has been serving Old Westbury and surrounding Nassau County communities for three decades. Specializing in high-net-worth client financing, they excel in jumbo loans and construction lending for luxury properties. Their 4.8-star rating reflects exceptional customer service and deep knowledge of Long Island's exclusive markets. The company is renowned for their hands-on approach, with principals directly involved in every transaction, ensuring sophisticated financial solutions for discerning Old Westbury homeowners.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate's Garden City branch provides national lending power with local expertise, making them a top choice for Old Westbury residents seeking competitive rates and digital convenience. With a 4.7-star rating and extensive experience in luxury property financing, they offer specialized jumbo loan programs perfect for Old Westbury's high-value real estate market. Their innovative digital mortgage platform streamlines the application process while maintaining personalized service. The local team understands Nassau County's unique market dynamics and provides exceptional service for both luxury home purchases and refinances.
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Frequently Asked Questions
Common questions about mortgage lending in Old Westbury, NY
What are the typical down payment requirements for a luxury home in Old Westbury, given its high property values?
For the multi-million dollar estates common in Old Westbury, lenders typically require a minimum of 20-25% down payment for a conventional jumbo loan. Due to the loan amounts exceeding conforming limits, some lenders may require 30% or more, and strong proof of significant assets and income is essential for approval in this exclusive market.
Are there any local or Nassau County programs to help with property taxes for first-time homebuyers in Old Westbury?
While Old Westbury itself does not offer specific homebuyer programs, eligible first-time buyers in Nassau County can apply for the NYS Mortgage Tax Credit, which provides a federal tax credit. More impactful are the NYS STAR (School Tax Relief) programs, which offer a reduction on school tax bills for primary residences, a significant benefit given Old Westbury's substantial property taxes.
How do mortgage lenders in Old Westbury view properties with significant land acreage or equestrian facilities?
Lenders specializing in the Old Westbury market are accustomed to appraising unique, high-value properties with land. However, they will carefully assess the value of specialized improvements like stables, paddocks, or tennis courts, as these can be considered highly personal and may not fully appraise. A lender with experience in luxury and estate properties is crucial for a smooth process.
What is the impact of Old Westbury's strict architectural and land-use covenants on the mortgage process?
Lenders will require confirmation that the property is in compliance with all village covenants and that any planned renovations are approved. Non-compliance can affect property value and marketability, which is a risk for the lender. It's advisable to work with a local attorney and a lender familiar with the specific requirements of the Village of Old Westbury.
Are jumbo loan rates in Old Westbury significantly different from conforming loan rates?
Yes, jumbo loan rates for Old Westbury's high-value homes are often competitive with, and sometimes even lower than, conforming loan rates for qualified borrowers with excellent credit and substantial assets. This is because the jumbo market caters to low-risk, high-net-worth individuals. However, these rates can be more volatile and are offered by a more select group of private banks and lenders.
Nearby Cities
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Why Choose a Mortgage Lender in Old Westbury?
Local Market Knowledge
Lenders who understand Old Westbury'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 Old Westbury and get competitive rates on your home loan.