Best 20 Mortgage Lenders in New York (2025 Guide)

Buying a home in New York, whether it’s a co-op in Brooklyn, a colonial in Westchester, or a starter home in Buffalo, usually starts with one big decision: which lender will finance it. With hundreds of banks, credit unions, and online lenders competing for your business, finding the right one can feel overwhelming. That’s why we put together this guide to the best mortgage lenders in New York, covering everything from big national banks to regional New York institutions and digital-first lenders.

In this article, you’ll learn how to evaluate lenders, what loan types are common in New York, what current rate trends look like, and which 20 companies consistently stand out for service, loan variety, and borrower satisfaction. Whether you’re a first-time buyer in Queens or refinancing a home upstate, this guide will help you narrow your search quickly.

How We Chose the Best Mortgage Lenders in New York

New York’s housing market is unusual. Prices in New York City bear little resemblance to prices in Rochester or Syracuse, and that variation affects which lenders are the best fit for different buyers. To build this list, we looked at several factors:

• Loan variety: Conventional, FHA, VA, USDA, jumbo, and co-op/condo-specific loans, since New York has a large co-op housing stock that many lenders don’t finance.
• Licensing and local presence: Every lender listed is licensed to originate mortgages in New York State and has experience with the state’s unique closing processes, including mortgage recording tax.
• Rate competitiveness: We compared publicly available rate data and lender-reported averages relative to national benchmarks.
• Customer service and technology: Online application experience, responsiveness, and borrower reviews from sources like the Consumer Financial Protection Bureau complaint database.
• Credit flexibility: Minimum credit score requirements and down payment options, since New York’s median home prices push many buyers toward jumbo territory, especially in the metro area.

With those criteria in mind, here are the 20 mortgage lenders worth putting on your shortlist.

Best 20 Mortgage Lenders in New York

1. Rocket Mortgage

Rocket Mortgage remains one of the largest mortgage originators in the country, and it has a strong footprint in New York. Its fully digital application process, combined with phone and chat support, appeals to buyers who want speed without giving up guidance. Rocket offers conventional, FHA, VA, and jumbo loans, along with a rate-lock feature that lets borrowers lock in a rate for up to 90 days.

Best for: Tech-savvy borrowers who want a fast, mostly online process with solid customer support.

2. Better.com

Better.com built its brand on eliminating loan officer commissions, which it says allows for lower fees and quicker turnaround times. The platform is entirely online, with an emphasis on speed, transparency in pricing, and no lender fees. It’s a strong option for straightforward conventional purchases and refinances, though borrowers who want in-person meetings may find it limiting.

Best for: Digitally comfortable borrowers focused on minimizing closing costs.

3. Chase Bank

Chase is one of the most active mortgage lenders in New York City and the surrounding suburbs, in part because of its extensive branch network. Chase offers a relationship discount for existing customers with qualifying deposit accounts, along with a DreaMaker loan aimed at low- and moderate-income buyers. Its co-op financing options are particularly useful in New York City, where many buildings require lender approval.

Best for: Existing Chase customers and NYC co-op buyers.

4. Bank of America

Bank of America offers a wide menu of mortgage products, including its Affordable Loan Solution mortgage, which allows down payments as low as 3% with no mortgage insurance in some cases. The bank also has a Preferred Rewards program that can shave points off your rate if you maintain qualifying balances. Its digital tools are solid, and its branch presence throughout New York State makes in-person support easy to find.

Best for: Buyers who want a big-bank relationship with rate discount perks.

5. Wells Fargo

Wells Fargo has scaled back its mortgage business in recent years but remains a major lender in New York, particularly for conventional and jumbo loans. It offers a yourFirst Mortgage program for buyers with limited savings, requiring as little as 3% down. Wells Fargo’s online tracking tools make it easier to monitor your application status compared to some competitors.

Best for: Jumbo loan borrowers who want a national bank with deep resources.

6. Citibank

Citibank’s HomeRun mortgage program is designed for buyers with moderate incomes, offering down payments as low as 3% without requiring private mortgage insurance. Citibank has a long history in New York City real estate and understands the co-op and condo approval process well. Existing Citi relationship customers may also qualify for a relationship-based rate reduction.

Best for: Moderate-income buyers who want to avoid PMI.

7. CrossCountry Mortgage

CrossCountry Mortgage has grown quickly across the country, including in New York, largely by offering a wide range of niche loan products alongside standard conventional and government-backed loans. The company is known for flexibility with self-employed borrowers and those with non-traditional income documentation. Its loan officers tend to offer more personalized service than some of the larger banks.

Best for: Self-employed borrowers and those needing flexible underwriting.

8. loanDepot

loanDepot combines an online application with access to human loan consultants, which appeals to borrowers who want a hybrid experience. The lender offers a lifetime guarantee program that reduces fees on future refinances with the company. loanDepot handles FHA, VA, conventional, and jumbo loans, and it’s generally competitive on rates for borrowers with strong credit.

Best for: Borrowers who plan to refinance again down the road.

9. Guaranteed Rate

Guaranteed Rate is a Chicago-based lender with a significant New York presence, especially in the New York City metro area. It’s known for a fast digital process paired with dedicated loan officers, plus a wide range of loan products, including renovation loans and physician loans. Its rate transparency tools let borrowers see estimated pricing before formally applying.

Best for: Borrowers who want online convenience with dedicated local support.

10. PNC Bank

PNC offers a

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full suite of mortgage products, including conventional, FHA, VA, USDA, and jumbo loans, backed by the resources of one of the nation’s largest banks. New York borrowers can access PNC’s Home Insight Planner tool, an online calculator that lets users see real, personalized rates and estimated closing costs before formally applying. PNC also offers a low-down-payment program for qualifying low-to-moderate income borrowers, which can be especially helpful in high-cost markets like NYC.

Best for: Borrowers who want big-bank resources paired with useful digital rate transparency tools.

11. Citibank

Citibank is headquartered in New York City and has deep roots in the local housing market. The bank offers rate discounts to relationship customers who maintain qualifying deposit or investment balances, plus a HomeRun Mortgage Program designed for low-to-moderate-income borrowers that requires as little as 3% down and doesn’t require private mortgage insurance. Citibank’s loan officers are well-versed in the condo, co-op, and multi-family financing that’s common throughout NYC.

Best for: Existing Citi customers and co-op or condo buyers in New York City.

12. Flagstar Bank

Flagstar is one of the largest mortgage originators in the country and offers an extensive menu of loan products, including construction loans, renovation loans, and jumbo financing for New York’s expensive metro markets. It underwrites many of its own loans, which can speed up decision-making, and it services a large share of the loans it originates, giving borrowers continuity long after closing.

Best for: Borrowers seeking construction or renovation financing.

13. Homebridge Financial Services

Homebridge is a nonbank lender with a strong presence in New York’s non-agency and jumbo loan space. It offers portfolio loan options for borrowers who don’t fit conventional guidelines, including bank statement loans for self-employed applicants and asset depletion loans for retirees with significant investments but limited monthly income.

Best for: Borrowers who need alternative documentation loan options.

14. CrossCountry Mortgage

CrossCountry Mortgage has expanded rapidly and operates several branches across New York State. The company is known for quick turnaround times and a wide range of specialty programs, including physician loans, jumbo loans, and renovation financing. Local loan officers often have the flexibility to structure creative solutions for complex financial situations that larger banks might reject.

Best for: Borrowers with unique financial profiles who need creative loan structuring.

15. Guild Mortgage

Guild Mortgage brings decades of experience and a suite of down payment assistance programs to New York homebuyers. Its Homebuyer Advantage program allows buyers to lock in a rate before they’ve even found a home, which can be a real advantage in New York’s competitive market. The lender also emphasizes financial education, offering budgeting tools and homeownership counseling to first-timers.

Best for: First-time buyers who want rate protection while house hunting.

16. Movement Mortgage

Movement Mortgage is known for fast turnaround times, often closing loans in as little as seven business days for qualified borrowers. It offers conventional, FHA, VA, USDA, and renovation loans, and its mobile app allows borrowers to track their loan status in real time. Movement also donates a portion of its profits to community initiatives, which appeals to socially conscious borrowers.

Best for: Borrowers who need to close quickly, such as those competing in bidding wars.

17. Better Mortgage

Better Mortgage is a fully digital lender with no loan officer commissions, which can translate into lower fees for borrowers who are comfortable managing most of the process online. Better offers a fast pre-approval process and can lock in rates for extended periods, which is valuable in a rising rate environment. Customer support is primarily online and phone-based rather than in-person, so it suits tech-savvy borrowers who don’t need face-to-face meetings.

Best for: Digitally savvy borrowers who want a no-commission, streamlined process.

18. Bank of America

Bank of America offers a broad menu of mortgage products along with its Preferred Rewards program, which provides interest rate discounts and reduced fees to clients who maintain qualifying banking and investment balances. Its Community Homeownership Commitment includes down payment and closing cost grants in certain New York neighborhoods, making it worth investigating for eligible borrowers in Buffalo, Rochester, and parts of NYC.

Best for: Existing Bank of America customers and borrowers eligible for down payment grants.

19. NBT Bank

NBT Bank is a regional bank headquartered in upstate New York, serving communities across the Mohawk Valley, Southern Tier, and North Country regions. Because it’s locally based, NBT loan officers often have firsthand knowledge of smaller upstate housing markets that larger national lenders may not focus on as closely. The bank also offers portfolio lending options that give it more flexibility on unique properties, such as rural homes or land with acreage.

Best for: Buyers in upstate and rural New York communities.

20. Municipal Credit Union (MCU)

Municipal Credit Union is one of New York City’s largest credit unions, offering mortgage products to members with a focus on personalized service and competitive member rates. Credit unions like MCU often carry lower fees than traditional banks because they operate as not-for-profit institutions and pass savings back to their members. Membership eligibility is fairly broad, covering many New York City employees, residents of certain boroughs, and family members of existing members.

Best for: New York City residents who qualify for membership and want credit union rates and service.

How to Choose the Best Mortgage Lender in New York

With so many strong options on this list, narrowing down the right lender comes down to matching a company’s strengths with your specific financial situation. Here’s how to approach the decision methodically.

Compare Rates and APR, Not Just Advertised Numbers

The interest rate a lender advertises isn’t the full picture. Always compare the Annual Percentage Rate (APR), which factors in lender fees and gives a more accurate sense of the loan’s true cost. Get Loan Estimates from at least three lenders on the same day, since rates can shift daily, and compare them side by side.

Evaluate Loan Types and Specialty Programs

Not every lender offers every loan type. If you’re a veteran, prioritize lenders with strong VA loan experience. If you’re buying a co-op in Manhattan, make sure the lender actually underwrites co-op share loans, since not all do. Self-employed borrowers should look for lenders offering bank statement loans, while first-time buyers should ask about down payment assistance and grant programs.

Factor in Fees and Closing Costs

Origination fees, underwriting fees, application fees, and third-party costs can add thousands of dollars to your total. New York also has unique closing costs, including a mortgage recording tax that can be significant on larger loans. Ask each lender for a full breakdown so you’re comparing total cost, not just rate.

Assess Customer Service and Responsiveness

A slightly higher rate from a lender with excellent communication and a smooth process can be worth it, especially in New York’s fast-moving real estate market where delays can jeopardize a deal. Read recent customer reviews, ask friends or your real estate agent for recommendations, and pay attention to how quickly a loan officer responds to your initial inquiries, since that’s often a preview of what’s to come.

Consider Local Market Expertise

Lenders with New York-specific experience understand quirks like co-op board requirements, condo financing rules, flip taxes, and the state’s mortgage recording tax. This local knowledge can prevent costly surprises and delays during underwriting.

New York-Specific Mortgage Considerations

New York’s mortgage process has a few quirks that borrowers in other states don’t typically encounter. Understanding these upfront can save you time, money, and frustration.

Mortgage Recording Tax

New York charges a mortgage recording tax on most home loans, and the rate varies by location and loan amount. In New York City, this tax can be over 1.8% of the loan amount for loans above $500,000, which adds a substantial cost at closing that borrowers in many other states simply don’t face.

CEMA Loans

A Consolidation, Extension, and Modification Agreement, commonly called a CEMA loan, allows certain refinancing borrowers to avoid paying the mortgage recording tax again on the portion of the loan that’s already been taxed. This can result in meaningful savings, but not all lenders handle CEMA transactions smoothly, so it’s worth asking directly if you’re refinancing.

SONYMA Programs

The State of New York Mortgage Agency (SONYMA) offers low-interest loans and down payment assistance to eligible first-time buyers, particularly those with moderate incomes. Some of the lenders on this list, along with many local credit unions, participate in SONYMA programs, which can be a valuable option worth exploring before committing to a conventional loan.

Co-op vs. Condo Financing

Financing a co-op in New York City is different from financing a condo or single-family home. Co-op loans are technically secured by shares in a corporation rather than real property, and not every lender is set up to underwrite these loans. If you’re buying a co-op, confirm your lender has direct experience with co-op board packages and building-specific requirements before you fall in love with an apartment.

Property Taxes and Flood Zones

Property taxes vary enormously across New York State, and high property tax bills in some counties can affect how much loan you qualify for since they’re factored into your debt-to-income ratio. Additionally, buyers in coastal areas of Long Island, Staten Island, and parts of NYC should ask about flood zone designations early, since flood insurance requirements can add real ongoing cost to homeownership.

2025 Mortgage Rate Trends in New York

Mortgage rates in 2025 continue to be shaped by Federal Reserve policy, inflation trends, and the broader bond market, and New York borrowers generally see rates that track close to national averages with slight regional variation based on loan size and property type. Jumbo loans, which are common in high-cost areas like Manhattan, Brooklyn, and Westchester County, sometimes carry different pricing than conforming loans, occasionally lower when a lender is trying to attract high-balance borrowers.

Borrowers should expect rates to fluctuate based on credit score, down payment size, loan type, and overall market conditions. Locking in a rate once you’re comfortable with the terms is generally wise, since waiting for a marginally better rate can backfire if the market moves the other direction. Many of the lenders above offer rate lock extensions or float-down options, which are worth asking about if you expect delays in your closing timeline.

Tips for Getting the Best Mortgage Rate in New York

• Improve your credit score before applying. Even a 20 to 40 point increase can move you into a better pricing tier.
• Save for a larger down payment. Putting down 20% or more helps you avoid private mortgage insurance and often unlocks better pricing.
• Shop multiple lenders within a short window. Credit bureaus typically treat multiple mortgage inquiries within a 14 to 45 day period as a single inquiry for scoring purposes.
• Ask about discount points. Paying points upfront can lower your rate, which may make sense if you plan to stay in the home long term.
• Consider your loan term carefully. A 15-year mortgage carries a lower rate than a 30-year mortgage, though monthly payments are higher.
• Get pre-approved, not just pre-qualified. A full pre-approval carries more weight with sellers in New York’s competitive market and gives you a clearer, verified rate estimate.

If you’re also working through other debts before applying for a mortgage, it can help to get your overall financial picture in order first. Lenders weigh your total monthly obligations carefully, so paying down high-interest balances can improve both your approval odds and your rate.

Frequently Asked Questions

What credit score do I need to get a mortgage in New York?

Most conventional lenders look for a credit score of at least 620, though some FHA-backed loans allow scores as low as 580 with a 3.5% down payment, and certain lenders will go even lower with compensating factors. The best rates are typically reserved for borrowers with scores above 740.

How much are closing costs in New York?

Closing costs in New York typically run between 2% and 5% of the loan amount, though the state’s mortgage recording tax pushes costs higher than in many other states, especially in New York City. Total closing costs on a $500,000 home purchase can easily reach $15,000 to $25,000 once the mortgage recording tax, title insurance, and other fees are included.

Is it better to use a big bank or a local lender in New York?

Neither option is universally better. Big banks often offer relationship discounts and a wide range of products, while local lenders and credit unions may offer lower fees and more personalized service, along with better familiarity with regional quirks like co-op financing or upstate rural properties. The right choice depends on your priorities and the complexity of your specific transaction.

Can I get a mortgage in New York with a low down payment?

Yes. FHA loans allow down payments as low as 3.5%, VA loans allow qualifying veterans to buy with 0% down, and several conventional programs, including some offered by Citibank and Guild Mortgage on this list, allow as little as 3% down for qualifying borrowers. SONYMA programs also offer down payment assistance for eligible first-time buyers.

How long does it take to close on a mortgage in New York?

Most mortgages in New York close within 30 to 45 days from application to closing, though this can vary based on loan complexity, appraisal scheduling, and how quickly you supply requested documentation. Lenders like Movement Mortgage advertise faster timelines for straightforward, well-documented applications, while co-op purchases in NYC often take longer due to board approval requirements.

Final Thoughts

New York’s mortgage market is as diverse as the state itself, spanning dense urban co-ops in Manhattan, suburban single-family homes in Westchester, and rural properties in the North Country. The 20 lenders covered in this guide represent a strong cross-section of national banks, regional players, online lenders, and credit unions, each with distinct strengths depending on your credit profile, property type, and priorities.

Before you commit to any lender, take the time to gather Loan Estimates from at least three options, ask pointed questions about fees and loan programs specific to New York, and make sure your chosen lender has real experience with your property type, whether that’s a co-op, condo, or single-family home. Taking these extra steps upfront can save you thousands of dollars and considerable stress throughout the homebuying process.