The Best Mortgage Lenders in Port Washington, NY
Compare verified mortgage lenders serving Port Washington, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Port Washington
Featured Mortgage Lenders
Michael D'Ambrosio
CrossCountry Mortgage, LLC
CrossCountry Mortgage has established itself as one of the top-rated mortgage lenders on Long Island, with Michael D'Ambrosio's Roslyn Heights office serving Port Washington and surrounding North Shore communities exceptionally well. With over 125 excellent reviews, this branch is praised for its personalized service, competitive rates, and expertise in handling complex mortgage scenarios. The company's 20+ years in business and comprehensive loan programs make them a preferred choice for Port Washington homebuyers seeking reliable, professional mortgage services with local market knowledge.
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Gary Park
First National Mortgage Sources
First National Mortgage Sources has been serving Long Island homebuyers for over two decades with exceptional service and competitive financing options. Located in nearby Garden City, they have extensive experience serving the Port Washington market and are particularly renowned for their expertise in jumbo loans and luxury property financing, which is highly relevant to the Port Washington real estate market. With nearly 100 excellent reviews, customers consistently praise their responsiveness, attention to detail, and ability to secure favorable terms for complex mortgage situations.
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Mortgage Department
Teachers Federal Credit Union
As one of Long Island's most trusted financial institutions, Teachers Federal Credit Union has been serving the community for over 70 years and maintains a strong presence throughout Nassau County, including Port Washington. While headquartered in Hauppauge, they actively serve members across Long Island with highly competitive mortgage rates and exceptional member service. With hundreds of positive reviews, TFCU is celebrated for their low closing costs, personalized approach to mortgage lending, and commitment to member satisfaction. Their extensive loan portfolio and local market expertise make them an excellent choice for Port Washington homeowners.
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Frequently Asked Questions
Common questions about mortgage lending in Port Washington, NY
Are mortgage rates in Port Washington, NY, typically higher than the national average?
Yes, mortgage rates in Port Washington and the broader Long Island market are often slightly above the national average due to higher local property values and the competitive housing market. However, securing a competitive rate is highly dependent on your credit profile and down payment, so shopping around with local lenders familiar with Nassau County is crucial.
What local or state programs are available for first-time homebuyers in Port Washington?
First-time homebuyers in Port Washington should explore the **SONYMA (State of New York Mortgage Agency) programs**, such as the Low Interest Rate Mortgage or the Achieving the Dream program, which offer competitive rates and down payment assistance. Additionally, Nassau County occasionally offers grants for closing costs, so consulting with a local mortgage broker who specializes in these state programs is highly recommended.
How does the high property tax rate in Port Washington affect my mortgage qualification?
Port Washington's property taxes are a significant factor in the debt-to-income (DTI) ratio calculation. Lenders will include the estimated annual tax bill in your monthly housing payment, which can reduce the loan amount you qualify for compared to areas with lower taxes. It's essential to get accurate tax estimates early in your home search to understand your true purchasing power.
Are jumbo loans common in Port Washington's real estate market?
Absolutely. Given the high median home price in Port Washington, which often exceeds the conforming loan limits ($ in 2024), jumbo loans are very common. These loans typically have stricter credit and reserve requirements (often 12-18 months of payments in liquid assets) and interest rates can be competitive with conforming loans for well-qualified buyers.
What should I know about getting a mortgage for a home in a Port Washington flood zone?
Many homes in Port Washington, especially those near the harbor or Manhasset Bay, are in FEMA-designated flood zones. This will require you to purchase **flood insurance**, which the lender will mandate and include in your monthly escrow payment. This additional cost must be factored into your budget and DTI ratio, and some lenders may have specific requirements for properties in high-risk zones.
Nearby Cities
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Why Choose a Mortgage Lender in Port Washington?
Local Market Knowledge
Lenders who understand Port Washington'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 Port Washington and get competitive rates on your home loan.