The Best Mortgage Lenders in Saint James, NY
Compare verified mortgage lenders serving Saint James, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Saint James
Featured Mortgage Lenders
Michael D'Ambrosio
Guild Mortgage
Michael D'Ambrosio with Guild Mortgage is one of the highest-rated mortgage professionals serving the Saint James area. With over 125 exceptional reviews and nearly two decades of experience, he specializes in guiding clients through the entire mortgage process with personalized service. Guild Mortgage offers a comprehensive range of loan products including conventional, FHA, VA, and jumbo loans. Their local Smithtown office provides convenient service to Saint James residents, and they're known for competitive rates, transparent communication, and exceptional customer satisfaction throughout the home buying process.
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Joseph C. Rizzo
NRL Mortgage
Joseph Rizzo with NRL Mortgage has built an outstanding reputation serving the North Shore of Long Island, including Saint James. With nearly 90 excellent reviews, he provides comprehensive mortgage services with particular expertise in first-time homebuyer programs and refinancing. NRL Mortgage offers competitive rates across all loan types and is known for their efficient processing and closing timelines. Their Smithtown location is conveniently accessible to Saint James residents, and they pride themselves on building long-term relationships with clients through exceptional service and mortgage expertise.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Stony Brook branch serves the Saint James community with exceptional mortgage services and competitive lending options. With over 140 positive reviews, this established lender offers a wide array of loan products including specialized construction loans and jumbo mortgages. Their local team has deep knowledge of the Long Island real estate market and provides personalized service from application through closing. Known for their responsive communication and streamlined process, they consistently deliver competitive rates and flexible loan options tailored to individual financial situations.
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Frequently Asked Questions
Common questions about mortgage lending in Saint James, NY
Are there any special mortgage programs for first-time homebuyers in Saint James, NY?
Yes, New York State offers the SONYMA (State of New York Mortgage Agency) programs, which are popular in Saint James. These include the Low Interest Rate Program and the Achieving the Dream Program, which offer competitive rates and down payment assistance. Additionally, Suffolk County has its own Homebuyer Assistance Program that can provide closing cost aid to eligible buyers in the area.
How do property taxes in Saint James impact my mortgage qualification and monthly payment?
Saint James, located within the Town of Smithtown, has notably high property taxes, which are a significant component of your monthly mortgage payment (PITI). Lenders will carefully evaluate your debt-to-income ratio including these taxes, which can be $12,000-$20,000+ annually for a median-priced home. It's crucial to get an accurate tax estimate early in your search, as it directly affects how much house you can afford.
What is the typical down payment required for a home in Saint James's competitive market?
While 20% down is ideal to avoid private mortgage insurance (PMI), competitive offers in Saint James often feature strong down payments of 20% or more. However, conventional loans are available with as little as 3-5% down, and FHA loans require 3.5%. Given the high home prices, saving for a substantial down payment is a key challenge for local buyers.
Are jumbo loans common in Saint James, and what are the requirements?
Yes, jumbo loans are very common in Saint James, as the conforming loan limit for Suffolk County ($1,149,825 in 2024) is often exceeded by local home prices. Jumbo loans typically require excellent credit (often 700+), a lower debt-to-income ratio, and larger down payments (usually 20-30%). You'll need robust documentation of assets and income, and rates are typically slightly higher than for conforming loans.
Does Saint James have any specific zoning or property considerations that affect mortgage lending?
Saint James has many historic homes and properties with accessory apartments or are situated in special groundwater protection areas due to its location over the Long Island aquifer. Lenders may require specific inspections or have conditions for non-conforming properties. It's important to work with a local lender familiar with appraising unique properties and navigating any local land use restrictions that could affect property value.
Nearby Cities
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Why Choose a Mortgage Lender in Saint James?
Local Market Knowledge
Lenders who understand Saint James'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 Saint James and get competitive rates on your home loan.