The Best Mortgage Lenders in Ridgewood, NY
Compare verified mortgage lenders serving Ridgewood, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ridgewood
Featured Mortgage Lenders
John Forlines
Guaranteed Rate
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in New York City, including service to Ridgewood. Known for its digital-first approach and competitive rates, the company has consistently high customer satisfaction ratings due to its efficient online application process, personalized service from local loan officers, and wide range of loan products. With over two decades of experience, they are praised for their transparency, quick closings, and expertise in handling diverse mortgage needs in the NYC market.
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Rick Arvielo
New American Funding
New American Funding is a highly regarded mortgage lender that actively serves the Ridgewood area with a focus on community inclusion and competitive financing options. They are recognized for their exceptional customer service, particularly for first-time homebuyers and diverse borrowers, offering specialized programs like down payment assistance. With a strong track record of over 20 years, they provide personalized support through local loan officers, ensuring smooth transactions and high satisfaction in the competitive New York housing market.
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Ron Leonhardt
CrossCountry Mortgage
CrossCountry Mortgage is a reputable national lender with a dedicated presence in the New York metro area, including Ridgewood. They are celebrated for their flexible loan options, competitive rates, and hands-on service from experienced local advisors. With over two decades in business, they have built a strong reputation for reliability and customer-centric approaches, such as tailored solutions for complex financing needs and efficient processing. Their high ratings reflect consistent positive feedback on communication and closing efficiency.
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Frequently Asked Questions
Common questions about mortgage lending in Ridgewood, NY
What are the current average mortgage rates for homebuyers in Ridgewood, NY, and how do they compare to the broader NYC market?
Mortgage rates in Ridgewood are generally aligned with the national average but can be slightly higher than the U.S. median due to the competitive New York City metro market. However, rates for specific loan types, like jumbo loans (common for Ridgewood's higher-priced homes), may carry a premium. It's crucial to shop local lenders familiar with Queens County for the most accurate and competitive quotes.
Are there any special down payment assistance or first-time homebuyer programs available specifically for Ridgewood residents?
Yes, Ridgewood homebuyers can access several New York State and New York City programs. Key options include the SONYMA (State of New York Mortgage Agency) Achieving the Dream program, which offers low interest rates and down payment assistance, and the NYC Housing Preservation & Development's HomeFirst Down Payment Assistance Program, which provides up to $100,000 in assistance for qualifying first-time buyers in NYC, including Ridgewood.
How does Ridgewood's status as a landmark district affect the mortgage process for certain properties?
Purchasing a home in the Ridgewood Historic District can add steps to the mortgage and appraisal process. Lenders may require a specialized appraisal that accounts for historic preservation standards and potential renovation restrictions. It's essential to work with a lender experienced in historic districts to ensure they understand the unique value and requirements of these properties.
What is a typical down payment percentage needed for a multi-family home in Ridgewood, given its many two-family houses?
For owner-occupied two-family homes in Ridgewood, a minimum down payment of 15% is common with conventional financing, though some lenders may require 20-25%. Investment property loans for non-owner-occupied multi-family units typically require at least 25% down. The potential rental income from the second unit can often be used to help qualify for a larger loan amount.
Are property taxes in Ridgewood, Queens, typically escrowed into the monthly mortgage payment?
Yes, most lenders in New York will require an escrow account for property taxes and homeowner's insurance as part of your monthly mortgage payment. Ridgewood's property taxes, while generally lower than in Manhattan, have been rising. Your lender will estimate the annual tax bill (which you can verify with the NYC Department of Finance) and divide it into monthly installments to ensure timely payment and avoid liens.
Nearby Cities
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Why Choose a Mortgage Lender in Ridgewood?
Local Market Knowledge
Lenders who understand Ridgewood'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 Ridgewood and get competitive rates on your home loan.