The Best Mortgage Lenders in P J S, NY
Compare verified mortgage lenders serving P J S, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in P J S
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender with a strong presence in the Long Island area, including service to Port Jefferson Station. Known for its innovative digital mortgage platform and competitive rates, the company has earned high customer satisfaction scores for its efficient processing and transparent communication. With over two decades of experience, they offer a wide range of loan products and have consistently high ratings for reliability and customer service. Their local Melville office provides personalized support, making them a preferred choice for homebuyers in Suffolk County.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a highly reputable lender serving the Port Jefferson Station area from its Hauppauge location. With over 20 years in business, they are praised for their personalized approach, extensive loan options, and strong local community involvement. Customers highlight their responsive service, competitive rates, and expertise in handling various mortgage types, including first-time homebuyer programs. Their high review counts and consistent ratings reflect a commitment to customer satisfaction and reliability in the competitive New York market.
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loanDepot
loanDepot, LLC
loanDepot is a nationally recognized mortgage lender with a robust local presence in the Hauppauge area, effectively serving Port Jefferson Station homebuyers. Founded in 2010, they leverage technology to offer a seamless online and in-person experience, with competitive rates and a wide array of loan products. Their high customer review counts underscore strengths in communication, speed, and flexibility, particularly for refinancing and first-time home purchases. With a focus on innovation and customer care, loanDepot has built a strong reputation in the New York mortgage landscape.
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Frequently Asked Questions
Common questions about mortgage lending in P J S, NY
What are the typical down payment requirements for a mortgage in Port Jefferson Station, NY, given the local home prices?
In Port Jefferson Station, with median home prices typically ranging from $500,000 to $700,000, a conventional loan usually requires a 10-20% down payment. However, first-time buyers may qualify for programs like the SONYMA (State of New York Mortgage Agency) Conventional Plus program, which can allow for a down payment as low as 3% with income and purchase price limits. It's crucial to get pre-approved with a local lender familiar with Suffolk County's market to understand your specific options.
Are there specific mortgage considerations for buying a home in the Three Village School District area of Port Jefferson Station?
Yes, homes within the highly-rated Three Village Central School District (Comsewogue, Port Jefferson) often command a premium, which can affect both the purchase price and the subsequent property tax assessment. Your lender will need to accurately account for Suffolk County's property taxes, which are among the highest in the nation, to ensure your debt-to-income ratio is calculated correctly. A thorough appraisal is also key to justify the value in this competitive school district.
What local or state programs can help with closing costs for first-time homebuyers in Port Jefferson Station?
First-time homebuyers in Port Jefferson Station should explore the SONYMA Achieving the Dream program, which offers a low interest rate and up to $15,000 in down payment assistance in the form of a forgivable loan. Additionally, the Suffolk County Down Payment Assistance Program provides eligible buyers with a grant of up to $14,000. Eligibility is based on income, household size, and the purchase price of the home within Suffolk County limits.
How do Suffolk County's high property taxes impact the mortgage pre-approval process in Port Jefferson Station?
Suffolk County's significant property taxes directly reduce the maximum loan amount you can qualify for, as lenders must include the estimated monthly tax escrow in your total debt-to-income (DTI) calculation. When getting pre-approved, ensure your lender uses accurate, up-to-date tax estimates for the specific area of Port Jefferson Station, as taxes can vary even between neighborhoods. This makes budgeting for the total monthly payment, not just the principal and interest, absolutely critical.
Is it common to encounter septic system or well water issues during the mortgage process for homes in Port Jefferson Station?
Yes, many homes in Port Jefferson Station are not connected to municipal sewer and water systems. Lenders will typically require a satisfactory septic inspection and water potability test as a condition of the mortgage. Issues found can lead to repair requirements that must be completed before closing, so it's wise to budget for these specialized inspections and potential remediation when making an offer on a property with private systems.
Why Choose a Mortgage Lender in P J S?
Local Market Knowledge
Lenders who understand P J S'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 P J S and get competitive rates on your home loan.