Wed. Mar 3rd, 2021

Feel in a New York state of mind? Now might be a good time to buy, as New York has recently seen a decrease in new mortgage loans. Empire State has 8.3 million housing units Homemade at a rate of 53.8%, according to the US Census Bureau 2017 American Community Survey.

The median housing price in the state is $ 314,500, with a national average price of $ 217,600. But many counties have fewer than intermediaries, so expectations can vary depending on where you plan to buy.

US News’ Best New York Mortgage Lenders

Best for Fair Credit

Flagstar provides banking and lending products in every state. Lenders can choose from traditional or government-backed mortgages, such as FHA, VA and the US Department of Agriculture loans, and opt for adjustable-rate mortgages. Other options include home equity loans and lines of credit.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Jumbo, Refinance and USDA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

Best counter

  • Offers a wide selection of mortgage and home equity loans

  • Offers certain mortgages that do not require a down payment

  • Allows borrowers to apply for online loans

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Best for va loan

Giants United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, DC, and specializes in VA loans. In 2019, Veterans United Home Loan generated the largest VA loan in the nation.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
  • Minimum FICO Credit Score: Is 660
  • Maximum loan amount: $ 1.5 million
  • Better Business Bureau Rating: A +

Best counter

  • No military service required

  • No minimum loan amount determined

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Best for bad credit

Carrington Mortgage Services produces a range of mortgages, including refinances, available to borrowers nationwide. The company, which provides traditional and government-backed mortgages, has funded $ 22 billion in home loans since 2011.

Before you apply

  • Mortgage Type: ARM, Conventional, FHA, Home Equity Loans and Halo, Jumbo, Refinance, USDA and VA
  • Minimum FICO Credit Score: 500
  • Maximum loan amount: $ 2.5 million
  • Better Business Bureau Rating: A +

Best counter

  • Accepts applicants with a credit score of at least 500

  • Offers traditional loans with less than 3% payment

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Best for product selection

Guild Mortgage, established in 1960, specializes in home loans and serves lenders around the country. The complete lender of products includes traditional and government-backed mortgages and home equity loans.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: Different
  • Better Business Bureau Rating: A +

Best counter

  • Receives strong customer service rating from Better Business Bureau

  • Offers a wide range of mortgage products

  • Offers exclusive mortgage programs for first time buyers and manufactured homebuyers

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Best for low APR

New American Funding is a national mortgage lender with a wide variety of home loan options. The lender has processed more than $ 27 billion in mortgages.

Before you apply

  • Mortgage Type: ARM, Cash-Out Refinancing, Traditional, FHA, Halos, Jumbo, Reverse, USDA and VA
  • Minimum FICO Credit Score: 500
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

Best counter

  • Offers several mortgage options, including low and low-down payment loans

  • Offers fixed or adjustable rate mortgages

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Best for online service

Caliber Home Loans of Coppell, Texas offers nationwide mortgages including traditional, refinance, jumbo and adjustable rate loans. The government-backed options are FHA, USDA and VA. Caliber has been in business since 2008 and focuses solely on home loans.

Before you apply

  • Mortgage Type: Traditional, FHA, Jumbo, Refinance, USDA and VA
  • Minimum FICO Credit Score: 580
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: a

Best counter

  • Homebuyer offers programs for the first time

  • FICO accepts mortgage applicants with credit scores as low as 580

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Best without any down payment

Alliant Credit Union is a non-profit financial cooperative that serves customers in all states except Maryland. Borrowers can take out traditional, jumbo, refinance and home equity loans.

Before you apply

  • Mortgage Type: Traditional, first time homebuyers, hallows and refinancing
  • Minimum FICO Credit Score: 620
  • Maximum loan amount: $ 2.5 million
  • Better Business Bureau Rating: A +

Best counter

  • Issues no down-payment mortgages for first time homebuyers with excellent credit

  • FICO offers mortgages to borrowers with credit scores as low as 620

  • Allows for a loan-to-income ratio of up to 50% for some loan programs

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Best for low cost

Chase, one of the largest banks in the country, offers mortgage and refinance loans to qualified borrowers. Home equity loans and HELOC are also available.

Before you apply

  • Mortgage Type Offered: ARM, Traditional, FHA, Jumbo, Refinance and VA
  • Minimum FICO Credit Score: 620
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

Best counter

  • Accepts up to 3% down payment

  • Receives high marks from Better Business Bureau

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Best for low down payment

PNC Bank is one of the largest US banks, serving more than 8 million customers in all 50 states. PNC offers most types of mortgages.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, First Time Homebuyer Program, Home Equity, Halo, Jumbo, Refinance, USDA and VA
  • Minimum FICO Credit Score: Unpublished
  • Maximum loan amount: $ 5 million
  • Better Business Bureau Rating: A +

Best counter

  • Offers many types of mortgages

  • Provides no or low-down mortgage

  • An online home ownership cost appliance supply

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What are the mortgage rates in New York?

Average interest rate for a 30 year fixed rate Customizing Mortgage in New York 2.87%.

House interest rates Range from 2.5% Service 3.75% in New York.

What are today’s mortgage rates?

By locking in a low mortgage rate today, you can save thousands over the life of your loan. Compare your mortgage rate offers with national average trends.

Loan type

Rate of this week

Last week rate

30-Year Fixed Rate Mortgage 2.87% 2.9%
15-Year Fixed Rate Mortgage 2.34% 2.38%
30-Year Fixed-Rate Jumbo Mortgage 2.89% 2.93%
5/1 ARM 2.99% 3.03%
5/1 Jumbo ARM 2.86% 2.85%

* Rates for January 1, 2021

mortgage calculator

Is your dream home within reach? US News’ mortgage calculator will show you how much home you can buy.

What are some New York homebuyer events?

New York homebuyers can seek the help of down payments and closing costs, as well as lower interest rates and lower down payment requirements with programs from the Down Statement of New York Mortgage Agency.

  • available to: First time homebuyers or eligible military veterans and homebuyers purchase a target area.
  • Income Range: Different from county (see) SonyMA Earnings Limit) Belongs to.
  • First time homebuyers only? No.
  • Loan Options: 30-Year Fixed Rate Mortgage.
  • Benefit: Lower payments up to 3% are required when lower interest rates and down payment assistance of up to 3% are available.

  • available to: First time homebuyers or eligible military veterans and homebuyers purchase a target area.
  • Income Range: Different from county (see) SonyMA Earnings Limit) Belongs to.
  • First time homebuyers only? No.
  • Loan Options: 30-Year Fixed Rate Mortgage.
  • Benefit: Provides the need for payments as low as 3% with competitive interest rates and down payment assistance of up to 3% available.

  • available to: Low-income New York homebuyers.
  • Income Range: Income must be less than or equal to 80% Area average income.
  • First time homebuyers only? No.
  • Loan Options: 30-Year Fixed Rate Mortgage.
  • Benefit: There is no down payment requirement for single-family homes and is available for new purchases and refinancing.

  • available to: New York Homebuyers using a SONYMA Mortgage Program.
  • Income Range: Different from county (see) SonyMA Earnings Limit) Belongs to.
  • First time homebuyers only? No.
  • Payment and closing cost assistance: The program lends up to 3% of the purchase price (up to $ 15,000) or $ 3,000, whichever is higher. The loan is forgiven after 10 years, but if you sell or refinance your home you may have to repay the loan within the first 10 years.

Find the best mortgage lenders by state

Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising clients of US News. Advertising ideas can influence offers that appear on the site, but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.

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