The Best Mortgage Lenders in Yorkville, NY
Compare verified mortgage lenders serving Yorkville, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Yorkville
Featured Mortgage Lenders
Adirondack Bank
Adirondack Bank
Adirondack Bank is a locally-owned community bank with over a century of service in the Utica area, including Yorkville. Known for personalized mortgage solutions, competitive rates, and deep community ties, they consistently receive high customer satisfaction ratings for their responsive service and wide range of loan products. Their established reputation and local expertise make them a top choice for homebuyers seeking reliable financing.
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GPO Federal Credit Union
GPO Federal Credit Union
GPO Federal Credit Union is a member-owned institution highly rated for its exceptional customer service, low fees, and community-focused approach. Serving Yorkville and the broader Oneida County region, they offer a comprehensive suite of mortgage options with flexible terms. Their strong local presence and commitment to member satisfaction ensure personalized support throughout the homebuying process.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong reputation for fast, efficient processing and competitive rates. They have local loan officers serving the Yorkville area, providing personalized service and a wide array of loan products. High customer ratings reflect their reliability, transparency, and dedication to making the mortgage experience smooth and accessible for homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Yorkville, NY
What are the typical down payment requirements for homes in Yorkville, NY, given its market?
For Yorkville's competitive market, where median home prices are often above the Utica metro average, a 20% down payment is common to avoid private mortgage insurance (PMI). However, many local lenders offer conventional loans with as little as 3-5% down, and FHA loans with 3.5% down are popular for first-time buyers targeting more affordable properties in the area.
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Yorkville?
Yes, the New York State Homes and Community Renewal (HCR) offers the "Achieving the Dream" program, providing down payment assistance up to $15,000 for eligible first-time buyers in Oneida County, which includes Yorkville. Additionally, the "SONYMA Low Interest Rate" program offers competitive rates and low down payment options specifically for New York State residents.
How do property taxes in Yorkville impact my mortgage qualification and monthly payment?
Property taxes in Yorkville and Oneida County are a significant factor, typically ranging from 2.5% to 3.5% of a home's assessed value. Lenders will include these taxes in your debt-to-income ratio calculation, and your monthly mortgage payment will include an escrow for taxes, which can add several hundred dollars to your payment compared to areas with lower tax rates.
What should I know about getting a mortgage for one of Yorkville's older, historic homes?
Financing older homes in Yorkville often requires a thorough home inspection, as lenders may have stricter appraisal requirements for properties with aging systems (like plumbing or electrical). An FHA 203(k) renovation loan can be a valuable tool here, allowing you to finance both the purchase price and the cost of necessary repairs into a single mortgage.
Are USDA rural development loans available for homes in Yorkville, NY?
While Yorkville itself is a densely populated village and generally does not qualify, certain outlying areas within the Yorkville postal code or nearby towns in Oneida County may be eligible for USDA loans, which offer 100% financing. It's crucial to check the USDA eligibility map with your lender, as specific property locations can determine qualification for this zero-down-payment program.
Nearby Cities
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Why Choose a Mortgage Lender in Yorkville?
Local Market Knowledge
Lenders who understand Yorkville'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 Yorkville and get competitive rates on your home loan.