The Best Mortgage Lenders in Stony Point, NY
Compare verified mortgage lenders serving Stony Point, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Stony Point
Featured Mortgage Lenders
Michael DeRosa
Homestead Funding Corp.
Homestead Funding Corp. is a highly-rated regional mortgage lender with strong presence throughout the Hudson Valley, including Stony Point. With nearly 30 years in business, they've built an exceptional reputation for personalized service and competitive rates. Michael DeRosa and his team specialize in helping Rockland County homebuyers navigate the mortgage process with expertise in various loan programs. Their high customer satisfaction ratings reflect their commitment to making the home financing experience smooth and transparent.
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Lisa Marino
Valley National Bank
Valley National Bank has been serving the Rockland County community for decades with a strong local branch presence near Stony Point. As an established FDIC-insured institution, they offer competitive mortgage rates and a wide range of lending products. Lisa Marino and their mortgage team are known for their expertise in local market conditions and personalized approach to home financing. Their long-standing community presence and comprehensive banking services make them a trusted choice for Stony Point residents.
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John Carbone
Preferred Empire Mortgage Company
Preferred Empire Mortgage Company is a well-established local mortgage lender serving Rockland County and the broader Hudson Valley region. With over 20 years in business, they've developed strong relationships with real estate professionals throughout the area, including Stony Point. John Carbone and his team are recognized for their responsive service and expertise in various loan programs, particularly for first-time homebuyers and those seeking specialized financing options. Their local market knowledge and commitment to customer service make them a top choice in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Stony Point, NY
Are there any special mortgage programs for first-time homebuyers in Stony Point, NY?
Yes, Stony Point homebuyers can access New York State programs like the SONYMA Achieving the Dream loan, which offers competitive interest rates and down payment assistance. Additionally, Rockland County offers the HOME Program, which provides down payment and closing cost assistance to eligible buyers purchasing within the county, including Stony Point. It's wise to work with a local lender familiar with these layered opportunities.
How do property taxes in Stony Point impact my mortgage qualification and payments?
Stony Point, located in Rockland County, has property tax rates that are above the national average, which significantly affects your debt-to-income ratio and monthly escrow payment. Lenders will closely scrutinize this, and you may qualify for a lower purchase price than in lower-tax areas. It's crucial to get a precise tax estimate for any property and factor it into your overall budget early in the process.
What is a typical down payment needed for a home in Stony Point's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), competitive offers in Stony Point's market often come with strong down payments. However, many buyers successfully use conventional loans with 3-5% down or FHA loans with 3.5% down. Given the median home price, saving for a larger down payment can make your offer more attractive and reduce your monthly costs.
Does Stony Point's location in a FEMA flood zone affect my mortgage?
Yes, if the property is located in a designated Special Flood Hazard Area (like parts near the Hudson River or tributaries), your lender will require flood insurance as a condition of the mortgage. This mandatory policy will be included in your monthly escrow payment and can add a significant cost, so verifying flood zone status during your inspection period is essential for an accurate budget.
Are there local credit unions or banks in Stony Point that offer competitive mortgage rates?
Yes, local institutions like Hudson Valley Credit Union and Provident Bank have a strong presence in Rockland County and often offer competitive rates and personalized service for Stony Point residents. They may have special programs or more flexibility for local buyers. It's highly recommended to get quotes from both these local lenders and larger national banks to find the best overall terms for your situation.
Nearby Cities
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Why Choose a Mortgage Lender in Stony Point?
Local Market Knowledge
Lenders who understand Stony Point'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 Stony Point and get competitive rates on your home loan.