9 Best New York Mortgage Lenders of 2020

If you’re looking for a mortgage in New York, you have many lenders to choose from. These are some of the best lenders — across the state, in the city or upstate.

If you're looking for a mortgage in New York, there are a lot of factors to consider, and offerings can vary significantly. Whether you're looking for an online-only lender that allows you to apply from the comfort of your bedroom, a lender with programs specifically for first-time home buyers or a mortgage company willing to work with less-than-perfect credit, there are plenty of options for New Yorkers.

NerdWallet has picked some of the best lenders in New York in a variety of categories to help you decide where to apply for your mortgage.

» MORE: Compare local New York mortgage lenders These national lenders displayed in the table have been reviewed by NerdWallet and are some of the highest-volume — and highest-rated — mortgage providers in New York State.

NerdWallet has picked some of the best lenders in New York in a variety of categories to help you decide where to apply for your mortgage.

Summary of Best New York Mortgage Lenders of 2020

Lender	NerdWallet Rating	Minimum Credit Score	Minimum Down Payment	Learn More
Quicken Loans: NMLS#3030 Learn more at Quicken Loans	4.5 /5 Best for first-time home buyers	620	3%	Learn more at Quicken Loans
Citibank: NMLS#412915 Read review	5.0 /5 Best for first-time home buyers & face-to-face service	N/A	3%	Read review
Rocket Mortgage: NMLS#3030 Learn more at Rocket Mortgage	4.5 /5 Best for online mortgage lenders	620	3%	Learn more at Rocket Mortgage
Guaranteed Rate: NMLS#2611 Read review	5.0 /5 Best for online mortgage lenders	620	3%	Read review
SunTrust: NMLS#2915 Read review	4.0 /5 Best for refinancing	620	3%	Read review
Chase: NMLS#399798 Read review	4.5 /5 Best for refinancing	620	3%	Read review
Bank of America: NMLS#399802 Read review	5.0 /5 Best for face-to-face service	620	3%	Read review
Network Capital: NMLS#11712 Learn more at Network Capital	3.5 /5 Best for borrowers with weaker credit	620	3%	Learn more at Network Capital
HomeBridge: NMLS#6521 Read review	3.5 /5 Best for borrowers with weaker credit	620	3%	Read review

Learn more

at Quicken Loans

Quicken Loans: NMLS#3030

4.5

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

Learn more

at Quicken Loans

Why we like it

Ideal choice for convenience and quick-response customer service. Quicken Loans provides just about all the services your neighborhood lender does — with online convenience.

Pros

Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch.
Instantly verifies employment and income for more than 60% of working Americans.
Offers custom fixed-rate loan terms that are between eight and 30 years.
Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%.

Cons

Quicken Loans doesn't offer home equity loans or HELOCs.
If you’re a “look me in the eye” type of customer, you’re out of luck.
Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.

Read Full Review

Read review

Citibank: NMLS#412915

5.0

NerdWallet rating

National / Regional

National

Min. Down Payment

Read review

Why we like it

Good for: Borrowers wanting to compare mortgage rates online for a variety of loan options.

Pros

Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.
Provides customizable mortgage rates on its website.
Offers low rates and fees compared with other lenders.

Cons

Charges a mortgage application fee.
Requires help from a mortgage loan officer to complete the loan application online.

Read Full Review

Learn more

at Rocket Mortgage

Rocket Mortgage: NMLS#3030

4.5

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

Learn more

at Rocket Mortgage

Why we like it

Ideal for anyone who appreciates smartphone app service, support and time savings. Rocket Mortgage offers a fully digital home loan experience with a large variety of mortgage products.

Pros

The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.
With your authorization, accesses asset statements from 98% of U.S. financial institutions.
Tells you the loan amount you’ll qualify for within minutes.
Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.

Cons

Doesn't offer home equity loans or HELOCs.
If you’re a “look me in the eye” type of customer, you’re out of luck.
Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.

Read Full Review

Read review

Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

Read review

Why we like it

Good for borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

Offers the ability to securely upload and digitally sign loan documents.
Displays detailed sample rates for many of its loan products.

Cons

Doesn't offer home equity loans or lines of credit.

Read Full Review

Read review

SunTrust: NMLS#2915

4.0

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

Read review

Why we like it

Ideal for borrowers with fair credit or better. SunTrust, now a part of Truist Financial Corp., offers a variety of customer service options.

Pros

Offers a complete online suite of mortgage application tools and loan tracking.
Provides customer service in its physical locations, online, via chat and by phone.
Offers wide variety of loan options, including a loan program for licensed medical professionals

Cons

Customized rates not available on website without starting an application.
Branches limited to mostly the Southeast.

Read Full Review

Read review

Chase: NMLS#399798

4.5

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

Read review

Why we like it

Good for borrowers who want to choose among a wide array of mortgage types from a bank with offices in more than half the states that charges below-average origination fees.

Pros

Allows electronic submission and tracking of loan documents.
Carries a wide variety of mortgage types and products.
Generally offers good rates and charges reasonable fees.

Cons

Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.
You have to speak with a home loan advisor to complete the application.

Read Full Review

Read review

Bank of America: NMLS#399802

5.0

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

Read review

Why we like it

Ideal for borrowers who prefer a traditional bank. Bank of America offers a wide array of mortgages and online account management tools. It also has first-time home buyer loans with low down payments and no mandatory mortgage insurance.

Pros

Allows borrowers to apply entirely online.
Offers down payment and closing cost assistance programs.
May give existing customers a discount on mortgage lender origination fees.

Cons

Does not offer renovation loans.

Read Full Review

Learn more

at Network Capital

Network Capital: NMLS#11712

3.5

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

Learn more

at Network Capital

Why we like it

Ideal for cost-conscious borrowers looking for a lender with no origination fees and online convenience with mortgage banker assistance.

Pros

Charges no lender fees.
A good selection of loan products, including all government-backed mortgages.
Offers jumbo loans up to $3 million.

Cons

Offers no home equity products.
Doesn't lend in all states.

Read Full Review

Read review

HomeBridge: NMLS#6521

3.5

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

Read review

Why we like it

Good for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate.

Pros

Offers a full array of mortgage products, including government and renovation loans.
Has loans for most purposes, including purchase, refinance and jumbo mortgages.
Online portal keeps borrowers up-to-date on the loan application's progress.

Cons

Doesn't post interest rates on its site.
Doesn’t offer home equity loans or lines of credit.

Read Full Review

Local mortgage lenders in New York state

If you want to include a local lender or two in your search for the best mortgage, these New York state lenders are among the highest-volume mortgage makers in the city as well as in upstate New York. The following lenders have not been reviewed by NerdWallet.

NEW YORK CITY

United Mortgage

Headquartered in Melville, Long Island, and licensed in more than two dozen states.
Among its many loan programs are mortgages for investment properties and vacation homes.
You can begin the mortgage process by completing a profile form and a call.

GuardHill Financial Corp.

Preapprovals delivered in writing within 24 hours.
Headquartered in New York City.
Has extensive educational material on its website.

Meadowbrook

New York-based, with locations along the East Coast and licensed in 13 states.
Offers renovation loans that can be used to purchase and improve a fixer-upper.
Issues condo, co-op, government-backed, conventional and jumbo loans.

FM Home Loans

Established in 1991 and based in Brooklyn.
Offices in Brooklyn, Manhattan, the Bronx, Queens and Pomona, New York, as well as California, Connecticut, Florida and New Jersey.
Begin preapproval and check loan status online.

» MORE: See more New York City mortgage lenders

UPSTATE NEW YORK

Empower Federal Credit Union

Serves central New York as well as eight counties in New York state.
Follows the not-for-profit model of a credit union.
Besides typical purchase and refinance mortgages, also finances manufactured homes.

Premium Mortgage Corp.

A “Rochester Top 100” business and leading mortgage lender in Buffalo 11 years in a row.
Also has offices in Syracuse and Albany.
An online application form gets the process started.

Homestead Funding Corp.

Headquartered in Albany, with offices throughout the Eastern seaboard.
Assists borrowers with state bond programs in New York, Connecticut, Florida and North Carolina.
New construction loans can have rate locks up to 265 days.

1st Priority Mortgage

An online application takes about 20 minutes to complete.
The Physician Plus loan program is aimed at medical professionals with high student debt.
Offices in Buffalo, Binghamton/Southern Tier, the Capital Region, the Ithaca area, Rochester and Syracuse.

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best New York Mortgage Lenders of 2020

Quicken Loans: Best for first-time home buyers

Citibank: Best for first-time home buyers & face-to-face service

Rocket Mortgage: Best for online mortgage lenders

Guaranteed Rate: Best for online mortgage lenders

SunTrust: Best for refinancing

Chase: Best for refinancing

Bank of America: Best for face-to-face service

Network Capital: Best for borrowers with weaker credit

HomeBridge: Best for borrowers with weaker credit