The Best Mortgage Lenders in Summit, NY
Compare verified mortgage lenders serving Summit, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Summit
Featured Mortgage Lenders
Michael Del Priore
Guaranteed Rate
Guaranteed Rate is one of the nation's largest retail mortgage lenders with a strong local presence in the Hudson Valley region. Michael Del Priore and his team serve Summit and surrounding areas with exceptional digital mortgage technology combined with personalized service. They're renowned for competitive rates, fast closings, and a streamlined online application process. With numerous industry awards and thousands of 5-star reviews nationally, they offer comprehensive loan options including specialized programs for first-time homebuyers in upstate NY communities.
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Tompkins Community Bank Mortgage Department
Tompkins Community Bank
As a established community bank serving the Finger Lakes and Southern Tier regions, Tompkins Community Bank has deep roots in upstate New York with mortgage specialists who understand the local Summit area market. They offer personalized mortgage counseling and competitive rates with the stability of a nearly 200-year-old institution. Their mortgage team provides exceptional local underwriting and decision-making, with special expertise in rural properties and USDA loans that are particularly relevant for the Summit area. Customers consistently praise their responsive service and local expertise.
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NEXA Mortgage - Hudson Valley Team
NEXA Mortgage, LLC
NEXA Mortgage operates throughout upstate New York with experienced loan officers serving the Summit area. They leverage relationships with over 180 lenders to find the best rates and terms for each borrower's unique situation. Specializing in both traditional and non-traditional loan scenarios, they're particularly strong with self-employed borrowers and investment properties. Their local mortgage professionals understand the specific challenges and opportunities of the upstate NY real estate market, providing tailored solutions with exceptional customer service ratings across multiple review platforms.
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Frequently Asked Questions
Common questions about mortgage lending in Summit, NY
Are there any special mortgage programs for first-time homebuyers in Summit, NY?
Yes, Summit homebuyers can access New York State's SONYMA (State of New York Mortgage Agency) programs, which are popular in rural areas like ours. These include the Low Interest Rate Program and the Achieving the Dream Program, which offer competitive rates, down payment assistance, and flexible credit requirements specifically designed to help buyers in less densely populated counties.
How do property taxes in Schoharie County impact my mortgage affordability in Summit?
Schoharie County property taxes are generally lower than the New York state average, which is a significant advantage for your monthly mortgage payment. However, taxes can vary between towns, so it's crucial to get an accurate estimate for the specific property. Your lender will factor these into your debt-to-income ratio, and the favorable rates here can help you qualify for a slightly higher loan amount.
What should I know about getting a mortgage for a rural or acreage property in Summit?
Financing properties with significant land (over 5-10 acres) often requires a "non-conforming" or rural loan product, as many standard programs have acreage limits. Local lenders familiar with Schoharie County are essential, as they understand USDA Rural Housing loan eligibility for the area and can properly appraise unique properties that may include barns or outbuildings.
Are mortgage rates in Summit, NY different from rates in major New York cities?
While national rates set the baseline, local market competition can cause slight variations. In Summit, you may find that regional banks and local credit unions, like Trustco Bank or NBT Bank, which have a strong presence in the Capital Region and Schoharie County, sometimes offer very competitive rates or relationship discounts to attract business in this smaller market.
What is the biggest appraisal challenge when getting a mortgage in a small town like Summit?
The primary challenge is finding comparable sales ("comps") due to low transaction volume and unique properties. An appraiser may need to look at sales from a wider geographic area, which can sometimes affect the valuation. Using a lender with strong local expertise is critical, as they can ensure the appraiser has proper context for the rural market.
Nearby Cities
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Why Choose a Mortgage Lender in Summit?
Local Market Knowledge
Lenders who understand Summit'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 Summit and get competitive rates on your home loan.