The Best Mortgage Lenders in White Plains, NY
Compare verified mortgage lenders serving White Plains, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in White Plains
Featured Mortgage Lenders
Michael J. Carbone
Westchester Mortgage
Westchester Mortgage is a highly-rated local mortgage brokerage with deep roots in the White Plains community. With over two decades of experience, they specialize in serving Westchester County homebuyers with personalized service and competitive rates. Their team of experienced loan officers provides expert guidance through the entire mortgage process, particularly strong with jumbo loans and first-time homebuyer programs. The company maintains exceptional customer satisfaction ratings and is known for their responsive communication and local market expertise.
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Rye Mortgage
Rye Mortgage Company
Serving White Plains and the greater Westchester County area, Rye Mortgage Company has built an outstanding reputation for handling complex mortgage scenarios and high-value properties. They excel in jumbo loans and construction financing, making them a top choice for luxury home buyers in the White Plains market. Their team of seasoned professionals provides white-glove service with a focus on competitive pricing and streamlined processing. With two decades of local lending experience, they understand the unique dynamics of the Westchester County real estate market.
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Jonathan Lerner
GFI Mortgage Company
GFI Mortgage Company maintains a strong physical presence in White Plains with a dedicated local team serving the Westchester County area. They are particularly noted for their expertise in government-backed loans (FHA and VA) while also offering competitive conventional and jumbo products. The White Plains branch has established itself as a reliable resource for both purchase and refinance transactions, with a focus on educational guidance throughout the mortgage process. Their commitment to transparent communication and competitive rates has earned them excellent customer reviews and repeat business.
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Frequently Asked Questions
Common questions about mortgage lending in White Plains, NY
Are there any special first-time homebuyer programs available specifically for White Plains, NY?
Yes, the City of White Plains offers the HOME Homebuyer Program, which provides down payment and closing cost assistance to eligible first-time homebuyers purchasing a home within city limits. This is a forgivable loan program, and applicants must meet income limits and complete a homebuyer education course. This local program can be layered with New York State programs like SONYMA for maximum benefit.
How do Westchester County property taxes impact the mortgage qualification process in White Plains?
White Plains has notably high property taxes, which are a significant component of your monthly housing payment. Lenders will carefully calculate your debt-to-income ratio (DTI) including these taxes, which can sometimes limit your purchasing power compared to other areas. It's crucial to get a precise tax estimate for any property you're considering, as taxes can vary even between neighborhoods in the city.
What is the typical down payment required for a condo in White Plains, given its many high-rise buildings?
For a conventional loan on a condo in White Plains, you can typically expect a minimum down payment of 10-15%, which is often higher than for a single-family home. Lenders have stricter requirements for condo projects, scrutinizing the building's finances, owner-occupancy rates, and insurance. Some downtown high-rises are approved by FHA, which could allow for a 3.5% down payment if you meet eligibility requirements.
Does White Plains have any local incentives for purchasing energy-efficient homes or making green improvements?
While there isn't a city-specific mortgage product, White Plains homeowners can leverage New York State's Energy Research and Development Authority (NYSERDA) programs. These include financing for energy audits and upgrades, which can be bundled into an Energy Improvement Mortgage (EIM). This allows borrowers to finance cost-effective energy improvements without impacting their loan qualification, a smart move given Westchester's high utility costs.
How competitive is the jumbo loan market in White Plains, given its high home prices?
The jumbo loan market in White Plains is very active and competitive due to the high median home price, with many national and regional lenders offering products. Rates for jumbo loans (loans exceeding $1,149,825 in 2024) are often very close to, or sometimes even lower than, conforming loan rates in this market. However, lenders will require stronger financial profiles, including excellent credit, significant reserves, and thorough income verification.
Nearby Cities
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Why Choose a Mortgage Lender in White Plains?
Local Market Knowledge
Lenders who understand White Plains'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 White Plains and get competitive rates on your home loan.