The Best Mortgage Lenders in Rome, NY
Compare verified mortgage lenders serving Rome, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rome
Featured Mortgage Lenders
Adirondack Bank Mortgage Department
Adirondack Bank
Adirondack Bank stands as Rome's premier local mortgage lender with deep community roots spanning over a century. As a community-focused institution with a physical branch in Rome, they offer personalized service and local decision-making that national lenders can't match. Their mortgage team receives exceptional ratings for responsiveness, competitive rates, and guiding borrowers through the entire process. They specialize in first-time homebuyer programs and offer a comprehensive range of loan products with the advantage of local underwriting and processing.
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NBT Bank Mortgage Services
NBT Bank
NBT Bank maintains a strong physical presence in Rome with multiple branches and a dedicated mortgage team serving the community. With over 165 years of banking experience, they bring exceptional stability and local market knowledge to mortgage lending. Customers consistently praise their competitive rates, transparent process, and knowledgeable loan officers who understand the unique aspects of the Rome and Central New York housing market. They offer special programs for first-time buyers and have strong relationships with local real estate professionals.
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Homestead Funding Corp
Homestead Funding Corp
While based in Clifton Park, Homestead Funding Corp consistently ranks as one of Upstate New York's highest-rated mortgage lenders and actively serves Rome and Central New York. They've earned numerous industry awards and maintain exceptional customer satisfaction ratings for their thorough communication, competitive pricing, and extensive loan product offerings. Their team includes specialized VA and first-time homebuyer experts, and they're particularly noted for handling complex financing scenarios with professionalism and efficiency.
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Frequently Asked Questions
Common questions about mortgage lending in Rome, NY
Are there any special first-time homebuyer programs available specifically for residents of Rome, NY?
Yes, Rome homebuyers can access the New York State Homes and Community Renewal (HCR) programs, which include the Achieving the Dream and First Home Club programs. These offer down payment assistance and matching savings grants. Additionally, local lenders often have knowledge of Oneida County-specific initiatives or grants that can provide additional support for qualifying buyers in the Rome area.
How do property taxes in Rome, NY, impact my mortgage qualification and monthly payment?
Property taxes in Rome and Oneida County are a significant factor, typically ranging from 2.5% to 3.5% of assessed value, which is above the national average. Lenders will calculate your debt-to-income ratio including this estimated tax escrow, which can affect how much house you qualify for. It's crucial to get an accurate tax estimate for any property you're considering, as taxes can vary between neighborhoods.
What are the typical down payment requirements for mortgages on Rome's more historic homes?
For Rome's historic properties, particularly in districts like the Fort Stanwix National Historic Landmark area, lenders may require a slightly higher down payment, often 20% or more, due to potential higher appraisal challenges and repair costs. However, FHA 203(k) renovation loans are a popular option here, allowing buyers to finance both purchase and repairs with a lower down payment, which is ideal for updating Rome's older housing stock.
Does being near the former Griffiss Air Force Base affect the mortgage process or property appraisals in Rome?
While the redeveloped Griffiss Business and Technology Park is a major asset, some lenders may still require specific environmental assessments or checks for certain properties due to the area's history. This is not a blanket rule but can occasionally cause minor delays. An experienced local mortgage broker will know how to navigate any property-specific requirements efficiently.
Are USDA rural development loans a viable option for homebuyers in Rome, NY?
Yes, USDA loans are an excellent $0-down-payment option for many buyers in Rome, as much of the city and surrounding Oneida County is eligible for the USDA's rural housing program. This can be particularly advantageous for first-time buyers or those with moderate incomes looking at properties on the edges of the city or in nearby towns, making homeownership more accessible with competitive interest rates.
Why Choose a Mortgage Lender in Rome?
Local Market Knowledge
Lenders who understand Rome'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 Rome and get competitive rates on your home loan.