The Best Mortgage Lenders in Washingtonville, NY
Compare verified mortgage lenders serving Washingtonville, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Washingtonville
Featured Mortgage Lenders
Michael DeRosa
NRL Mortgage
Michael DeRosa at NRL Mortgage is one of the highest-rated mortgage professionals in the Hudson Valley region, serving Washingtonville and surrounding Orange County communities. With over two decades of experience and nearly 200 excellent reviews, he's known for exceptional customer service, competitive rates, and guiding clients through complex mortgage scenarios. His team specializes in all major loan types and is particularly praised for first-time homebuyer programs and seamless closing processes.
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Hudson Valley Credit Union
Hudson Valley Credit Union
As one of the most established financial institutions in the region, Hudson Valley Credit Union has been serving Washingtonville residents for decades. With multiple branches throughout Orange County, they offer competitive mortgage rates for members and exceptional local service. Their mortgage team provides personalized guidance through the entire home financing process, and they're particularly strong on construction loans and first-time buyer programs with local market expertise.
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Tompkins Community Bank
Tompkins Community Bank
Tompkins Community Bank (formerly The Vanguard Bank) has deep roots in the Hudson Valley with over 185 years of community banking experience. Their mortgage division serves Washingtonville with local decision-making and personalized service. They're known for competitive conventional and government loan programs, construction financing expertise, and maintaining strong relationships with local real estate professionals. The bank consistently receives high marks for responsive communication and smooth closing processes.
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Frequently Asked Questions
Common questions about mortgage lending in Washingtonville, NY
What are the typical down payment requirements for a home in Washingtonville, given its market?
For most conventional loans in Washingtonville, a 20% down payment is standard to avoid private mortgage insurance (PMI), but many local lenders offer programs with as little as 3-5% down. Given the village's median home price, a lower down payment program can be crucial for first-time buyers. It's also wise to explore if the property qualifies for USDA loans, as some areas on the outskirts of the village may be eligible for zero-down financing.
Are there any specific first-time homebuyer programs or grants available for Washingtonville, NY?
Yes, Orange County, where Washingtonville is located, offers the "Welcome Home Orange County" program, which provides down payment and closing cost assistance to eligible first-time buyers. Additionally, New York State's SONYMA (State of New York Mortgage Agency) programs are widely accessible here, offering low interest rates, down payment assistance, and flexible credit requirements specifically tailored for New York residents purchasing in eligible areas like Washingtonville.
How do property taxes in Washingtonville impact my mortgage qualification and monthly payment?
Washingtonville is within the Town of Blooming Grove, which has property tax rates that are moderately high for the region. Lenders will carefully factor these taxes into your debt-to-income ratio during qualification. It's not uncommon for the monthly escrow payment for taxes and insurance to add several hundred dollars to your principal and interest payment, so budgeting for this is essential when determining how much house you can afford locally.
What type of home appraisal challenges are common in the Washingtonville area?
Appraisals in Washingtonville's mixed housing stock—from historic village homes to newer subdivisions—can sometimes be challenging due to finding comparable sales ("comps"). The limited inventory and unique properties may lead to appraisal gaps, where the appraisal comes in below the purchase price. Working with a lender familiar with the local Orange County market is key, as they can ensure the appraiser has proper local expertise.
Does living in Washingtonville make me eligible for any special mortgage products due to its location?
Washingtonville's location does offer some advantages. While not a federally designated "rural" area for USDA loans in the village core, nearby areas may qualify. More notably, as part of the Mid-Hudson Valley region, buyers may be eligible for certain regional economic development or community revitalization loan programs aimed at attracting residents to Orange County. A local mortgage broker can best identify any targeted, location-specific incentives.
Nearby Cities
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Why Choose a Mortgage Lender in Washingtonville?
Local Market Knowledge
Lenders who understand Washingtonville'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 Washingtonville and get competitive rates on your home loan.