The Best Mortgage Lenders in Ontario, NY
Compare verified mortgage lenders serving Ontario, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ontario
Featured Mortgage Lenders
NEO Home Loans
NEO Home Loans
NEO Home Loans is a highly-rated regional mortgage lender serving the Greater Rochester area including Ontario, NY. With exceptional 4.9-star ratings across multiple platforms, they specialize in personalized service and competitive rates. Their team of experienced loan officers provides comprehensive guidance through the entire mortgage process, from pre-approval to closing. They're particularly noted for their expertise with first-time homebuyer programs and their ability to close loans quickly and efficiently.
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ESL Federal Credit Union
ESL Federal Credit Union
As one of the most established financial institutions in the Rochester region, ESL Federal Credit Union has been serving Ontario and surrounding communities for over a century. While founded earlier than the specified range, their mortgage division maintains modern, competitive lending practices with exceptional member satisfaction. They offer competitive rates for members and are known for their community-focused approach, local decision-making, and comprehensive mortgage solutions with low closing costs and excellent customer service.
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Premium Mortgage Corporation
Premium Mortgage Corporation
Premium Mortgage Corporation is a well-established regional lender with strong presence throughout Western New York, including dedicated service to Ontario residents. With nearly two decades of experience, they've built a reputation for transparency, competitive rates, and exceptional customer service. Their local loan officers provide personalized attention and guidance through the entire mortgage process. They're particularly praised for their efficient processing, clear communication, and expertise with various loan programs including renovation and construction loans.
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Frequently Asked Questions
Common questions about mortgage lending in Ontario, NY
What are the typical down payment requirements for homes in Ontario, NY, given its proximity to Rochester?
While standard conventional loans require 3-5% down, the competitive market in Ontario and the greater Rochester area often makes offers with 20% down more attractive to sellers. However, first-time buyers should explore state and local programs like the SONYMA Low Interest Rate Program, which can offer down payment assistance and competitive rates for qualified applicants in Ontario.
Are there specific mortgage considerations for buying a home in the Town of Ontario versus the City of Rochester?
Yes, key differences include property tax rates and insurance. Ontario, being a suburban town in Wayne County, generally has different (often lower) property tax rates compared to the City of Rochester in Monroe County. Your lender will also need to account for potential differences in flood zones, as some properties in Ontario are near Lake Ontario or the Erie Canal, which can affect insurance requirements.
What first-time homebuyer programs are most accessible for residents looking to buy in Ontario, NY?
Ontario homebuyers have strong access to New York State programs. The SONYMA Achieving the Dream Program offers down payment assistance up to $15,000. Additionally, the Finger Lakes Regional Economic Development Council often supports local initiatives, and it's worth checking with the Wayne County Community Development Office for any county-specific first-time buyer grants or counseling services.
How do jumbo loan limits apply in Ontario, NY, and are they common?
For 2024, the conventional conforming loan limit for Wayne County (which includes Ontario) is $766,550. Jumbo loans (exceeding this limit) are less common in Ontario than in higher-cost areas downstate, as the median home price is more moderate. However, for luxury properties near the lake, jumbo financing may be needed and requires stronger credit and reserve requirements.
Does the local economy and employment base in the Ontario/Rochester region impact mortgage approval?
Absolutely. Lenders will closely evaluate job stability, and many applicants work in sectors like advanced manufacturing, healthcare (with Rochester hospitals), or agriculture. Having a long-term employment history with major regional employers like Xerox, Wegmans, or the University of Rochester is viewed favorably. Self-employed applicants or those in seasonal industries may need to provide more extensive income documentation.
Nearby Cities
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Why Choose a Mortgage Lender in Ontario?
Local Market Knowledge
Lenders who understand Ontario'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 Ontario and get competitive rates on your home loan.