The Best Mortgage Lenders in Yorktown Heights, NY
Compare verified mortgage lenders serving Yorktown Heights, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Yorktown Heights
Featured Mortgage Lenders
GuardHill Financial Corp
GuardHill Financial Corp
GuardHill Financial Corp is a highly-regarded mortgage lender with over two decades of experience serving Westchester County, including Yorktown Heights. They are praised for their competitive rates, personalized service, and deep community involvement. With a team of seasoned loan officers, they excel in guiding clients through various loan options, ensuring a smooth and reliable home financing process. Their strong reputation is built on consistent customer satisfaction and a commitment to local homebuyers.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is a nationally recognized lender with a robust local presence in Westchester County, effectively serving Yorktown Heights. Known for their efficient processing, extensive loan products, and knowledgeable staff, they have earned high marks for customer service and reliability. Their ability to offer competitive rates and tailored solutions makes them a trusted choice for homebuyers seeking a seamless mortgage experience in the region.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-tier lender with nearly three decades of experience, renowned for its exceptional customer service and competitive rates in the New York market, including Yorktown Heights. They are highly rated for their community engagement, client-focused approach, and wide array of loan options. Their expert team provides comprehensive guidance, making them a premier option for reliable and satisfying mortgage solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Yorktown Heights, NY
Are there any special first-time homebuyer programs available specifically for Yorktown Heights, NY?
Yes, Westchester County offers the "Homes for Heroes" program, which provides down payment assistance and closing cost grants to eligible first-time buyers in Yorktown Heights. Additionally, New York State's SONYMA program offers low-interest mortgages with down payment assistance, which is particularly helpful in Westchester's high-cost market.
How do property taxes in Yorktown Heights impact my mortgage qualification and monthly payment?
Yorktown Heights has notably high property taxes, typical of Westchester County, which can significantly affect your debt-to-income ratio and monthly payment. Lenders will carefully scrutinize this, and it's common for your monthly escrow payment for taxes to be as high as your principal and interest, so budget accordingly.
What is the typical down payment required for a mortgage on a single-family home in Yorktown Heights?
Given the higher median home prices in Yorktown Heights, a 20% down payment is often recommended to avoid private mortgage insurance (PMI) and secure better rates. However, many local lenders offer conventional loans with down payments as low as 5-10%, and FHA loans with 3.5% down, though these come with specific requirements and costs.
Are jumbo loans common for mortgages in Yorktown Heights, and what should I know about them?
Yes, jumbo loans are very common in Yorktown Heights as home prices frequently exceed the conforming loan limits set for Westchester County ($1,149,825 for 2024). These loans typically require stronger credit scores (often 700+), larger down payments (usually 10-20% minimum), and more extensive reserve requirements compared to conventional loans.
How does the competitive Westchester County real estate market affect the mortgage process in Yorktown Heights?
The competitive market often leads to bidding wars and all-cash offers, making mortgage financing contingencies less attractive to sellers. To compete, you'll need a strong pre-approval from a reputable local lender, potentially a shorter inspection contingency, and you may consider waiving the mortgage contingency only if you are extremely confident in your approval.
Nearby Cities
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Why Choose a Mortgage Lender in Yorktown Heights?
Local Market Knowledge
Lenders who understand Yorktown Heights'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 Yorktown Heights and get competitive rates on your home loan.