The Best Mortgage Lenders in Peekskill, NY
Compare verified mortgage lenders serving Peekskill, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Peekskill
Featured Mortgage Lenders
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC
CrossCountry Mortgage has established itself as one of the top mortgage lenders in the Westchester County area, serving Peekskill with exceptional customer service and competitive rates. With over 20 years of experience, they specialize in all major loan types including first-time homebuyer programs and jumbo loans. Their local office in Tarrytown provides personalized service with deep knowledge of the Peekskill and Hudson Valley housing markets, earning them consistently high ratings for their responsive communication and smooth closing processes.
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Homestead Funding Corp
Homestead Funding Corp
Homestead Funding has been serving the Hudson Valley region including Peekskill for nearly three decades with outstanding mortgage services. They maintain exceptional 4.9-star ratings across multiple review platforms, praised for their expertise with complex loan scenarios and construction lending. As a direct lender with in-house underwriting, they offer competitive rates and streamlined processing. Their long-standing presence in the region and commitment to community involvement make them a trusted choice for Peekskill homebuyers seeking personalized guidance.
Loan Types:
Tomo
Tomo
Tomo has rapidly become a top-rated digital mortgage lender serving the Peekskill market with innovative technology and competitive pricing. While newer than traditional lenders, they've earned strong ratings for their efficient digital process, rate transparency, and responsive customer service. They specialize in helping buyers compete in competitive markets with quick pre-approvals and their cash offer program. Tomo's hybrid approach combines technology with experienced loan officers who understand the nuances of the Westchester County real estate market, making them an excellent option for tech-savvy Peekskill homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Peekskill, NY
Are there any special first-time homebuyer programs available specifically for Peekskill, NY?
Yes, Peekskill homebuyers can access the State of New York Mortgage Agency (SONYMA) programs, which offer low down payments and competitive rates. Additionally, the City of Peekskill has periodically offered local down payment assistance grants; checking with the Peekskill Office of Community Development is essential to see if current funding is available for income-eligible buyers.
How do property taxes in Peekskill impact my mortgage qualification and monthly payment?
Peekskill's property tax rates are relatively high for Westchester County, which significantly affects your debt-to-income ratio and monthly escrow payment. When getting pre-approved, lenders will use the specific tax rate for the property's assessment, so it's crucial to get an accurate estimate early, as taxes can add several hundred dollars to your monthly mortgage obligation.
What is a typical down payment needed for a condo versus a single-family home in Peekskill's market?
For a conventional loan, a 20% down payment is standard for a single-family home in Peekskill to avoid private mortgage insurance (PMI). For condos, especially in the city's newer or converted buildings, lenders may require a slightly higher down payment of 25% if the project isn't on an approved FHA or Fannie Mae list, due to stricter warrantability rules.
Does Peekskill's location in a flood zone affect my mortgage process?
Yes, many properties in Peekskill, especially those near the Hudson River or Peekskill Creek, are in FEMA-designated flood zones. Your lender will require a flood certification, and if the home is in a high-risk zone (Special Flood Hazard Area), you must purchase flood insurance as a condition of the mortgage, adding to your closing costs and monthly expenses.
Are jumbo loans common in Peekskill, and what are the requirements?
Jumbo loans are increasingly common in Peekskill as home prices have risen, often exceeding the conforming loan limit for Westchester County ($1,149,825 for 2024). These loans typically require stronger financials, including excellent credit (often 700+), a down payment of 20-25%, and significant cash reserves (6-12 months of mortgage payments) post-closing.
Why Choose a Mortgage Lender in Peekskill?
Local Market Knowledge
Lenders who understand Peekskill'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 Peekskill and get competitive rates on your home loan.