The Best Mortgage Lenders in Staten Island, NY
Compare verified mortgage lenders serving Staten Island, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Staten Island
Featured Mortgage Lenders
Michael Cetera
CrossCountry Mortgage, LLC
CrossCountry Mortgage's Staten Island branch, led by experienced loan officer Michael Cetera, stands out as one of the highest-rated mortgage lenders serving the borough. With exceptional 4.9-star ratings across multiple platforms, this locally-operated branch combines the resources of a national lender with personalized community service. Specializing in Staten Island's unique real estate market, they offer competitive rates for conventional, FHA, and VA loans, with particular expertise in helping first-time homebuyers navigate the NYC housing landscape. Their team provides comprehensive guidance through the entire mortgage process, from pre-approval to closing.
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Michael J. Carbone
Investors Bank (now part of Citizens Bank)
With deep roots in the Staten Island community, this established banking institution (now operating as Citizens Bank following the merger) maintains one of the strongest local presences for mortgage lending. Michael Carbone and his team have built an outstanding reputation over two decades, earning consistent 4.8-star ratings for their personalized service and competitive mortgage products. They specialize in both purchase and refinance loans, with particular strength in construction lending and jumbo mortgages suited for Staten Island's diverse housing market. Their local underwriting and decision-making capabilities provide significant advantages for Staten Island homebuyers.
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Anthony V. Tola
Guaranteed Rate
Guaranteed Rate's Staten Island office, led by Anthony Tola, brings national lending power with local expertise to the borough's homebuyers. With strong 4.7-star ratings and extensive experience in NYC's complex real estate market, this team excels at navigating Staten Island's unique mortgage challenges. They offer a comprehensive range of loan products with particularly competitive jumbo and investment property financing options. Their digital mortgage platform combined with personalized local service provides an efficient, transparent experience that has earned them consistent praise from Staten Island homebuyers and real estate professionals alike.
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Frequently Asked Questions
Common questions about mortgage lending in Staten Island, NY
Are there any special mortgage programs or grants for first-time homebuyers specifically in Staten Island?
Yes, Staten Island 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 competitive rates and down payment assistance, and the NYC HomeFirst Down Payment Assistance Program, which provides up to $100,000 in a forgivable loan for eligible buyers in NYC, including Staten Island. It's crucial to work with a lender approved for these programs.
How do property taxes in Staten Island impact my mortgage qualification and monthly payment?
Staten Island has some of the highest property taxes in New York City, which significantly affects your debt-to-income (DTI) ratio and monthly escrow payment. Lenders will closely scrutinize the tax bill for your specific property, as rates can vary by neighborhood. It's essential to accurately account for these taxes when budgeting, as they can add hundreds of dollars to your monthly mortgage payment compared to other boroughs.
What is the typical down payment required for a single-family home in Staten Island's competitive market?
While conventional loans can require as little as 3-5% down, the competitive Staten Island market often necessitates a stronger offer. To be competitive, especially in desirable neighborhoods like Todt Hill or Great Kills, buyers should aim for a 20% down payment to avoid private mortgage insurance (PMI) and strengthen their offer in multiple-bid situations. Cash offers are also common, putting pressure on financed buyers.
Are there specific mortgage considerations for purchasing a multi-family home in Staten Island?
Absolutely. Purchasing a two- or three-family home, common in neighborhoods like Port Richmond or St. George, requires different financing, typically an investment property or multi-unit loan. Lenders will use projected rental income from the other units to help you qualify, but they often require a higher down payment (usually 15-25%) and may have slightly higher interest rates compared to a primary residence loan.
How do flood zones and insurance affect getting a mortgage in Staten Island?
Given Staten Island's extensive coastline, many homes are in FEMA-designated flood zones (especially in areas like South Beach, Midland Beach, and Tottenville). If your property is in a Special Flood Hazard Area, your lender will require you to purchase flood insurance as a condition of the mortgage. This mandatory insurance adds a significant annual cost that must be included in your monthly escrow payment and debt-to-income calculations.
Nearby Cities
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Why Choose a Mortgage Lender in Staten Island?
Local Market Knowledge
Lenders who understand Staten Island'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 Staten Island and get competitive rates on your home loan.