The Best Mortgage Lenders in Shortsville, NY
Compare verified mortgage lenders serving Shortsville, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Shortsville
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its competitive rates, personalized service, and extensive loan options. With a strong local presence in the Rochester area, they serve Shortsville residents effectively, boasting high customer satisfaction scores and a reputation for seamless closings. Their team of experienced loan officers provides tailored solutions for first-time homebuyers and refinancers alike.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly regarded lender with a focus on diversity and community outreach, offering innovative loan products and excellent customer service. They have a solid track record in upstate New York, including Shortsville, with competitive rates and a commitment to helping borrowers achieve homeownership through flexible financing options.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is praised for its efficient processing, competitive rates, and strong local support in the Rochester region, serving Shortsville with dedication. They emphasize a streamlined digital experience combined with personalized service, making them a favorite among homebuyers for their reliability and fast turnaround times.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Shortsville, NY
What are the typical down payment requirements for homes in Shortsville, NY, given the local market?
In Shortsville's more affordable Ontario County market, many conventional loans require a 5-10% down payment, though some lenders may offer 3% programs for well-qualified buyers. For FHA loans, the minimum is 3.5%. It's important to note that while Shortsville home prices are moderate compared to major metros, a solid down payment strengthens your offer in a competitive rural/suburban market.
Are there any specific first-time homebuyer programs or grants available for purchasing in Shortsville?
Yes, the **NY State Homes and Community Renewal (HCR)** offers the "Achieving the Dream" program, providing down payment assistance up to $15,000 for eligible first-time buyers in Ontario County, which includes Shortsville. Additionally, the **Finger Lakes Regional Economic Development Council** may have localized initiatives; consulting a mortgage lender familiar with these state and regional programs is highly recommended.
How do property taxes in Shortsville impact mortgage affordability and qualification?
Ontario County and the Town of Manchester (which encompasses Shortsville) have property tax rates that are a significant factor in the total monthly payment. Taxes here are typically higher than the national average but competitive within New York State. Lenders will calculate your debt-to-income ratio using the full PITI (Principal, Interest, Taxes, Insurance), so accurately estimating the tax escrow is crucial for budgeting in this area.
What type of property inspections or considerations are especially important for mortgage lending on older homes in Shortsville?
Shortsville has many charming, older homes. Lenders will require a standard appraisal, but buyers should strongly consider a thorough **home inspection** and a **septic system inspection** (as many properties are not on municipal sewer). Well water testing may also be required for certain loans. These inspections can uncover issues that might affect the home's value and loan eligibility.
Are USDA Rural Development loans a viable option for mortgages in Shortsville, NY?
Absolutely. Shortsville's location qualifies it for the USDA Rural Development Single Family Housing Guaranteed Loan Program, which offers 100% financing (no down payment) for eligible borrowers and properties. This can be an excellent option given the area's classification, making homeownership more accessible with below-market mortgage insurance rates. Checking the USDA eligibility map for the specific property address is the first step.
Nearby Cities
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Why Choose a Mortgage Lender in Shortsville?
Local Market Knowledge
Lenders who understand Shortsville'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 Shortsville and get competitive rates on your home loan.