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6 Best New York City Mortgage Lenders of 2022

Looking for a New York City mortgage lender? We've researched the city’s top lenders, selecting the best in five categories.

NerdWallet
By
Last updated on January 6, 2022

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  • 50+ mortgage lenders reviewed and rated by our team of experts.
  • 40+ years of combined experience covering mortgages and financial topics.
  • Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
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Best New York City Mortgage Lenders

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

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at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Home loans overall
Best for co-op lenders

620

1%

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Bethpage Federal Credit Union

Bethpage Federal Credit Union: NMLS#449104

Learn more
at Bethpage Federal Credit Union
at Bethpage Federal Credit Union
4.5
/5
Jumbo loans
Best for jumbo loans & co-op lenders

660

10%

Learn more
at Bethpage Federal Credit Union
at Bethpage Federal Credit Union
PNC

PNC: NMLS#446303

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on NerdWallet
5.0
/5
Jumbo loans
Best for jumbo loans & ARMs

680

5%

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on NerdWallet
TD Bank

TD Bank: NMLS#399800

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on NerdWallet
5.0
/5
HELOCs
Best for home equity lending & ARMs

620

3%

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on NerdWallet
Bank of America

Bank of America: NMLS#399802

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on NerdWallet
4.0
/5
Home loans overall
Best for low down payments

660

5%

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on NerdWallet
Chase

Chase: NMLS#399798

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on NerdWallet
3.5
/5
Home loans overall
Best for low down payments & home equity lending

620

3%

LEARN MORE
on NerdWallet
Rocket Mortgage, LLC
Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

1%

Why We Like ItGood for: FHA borrowers and others short on down payment cash, as well as home buyers who value convenience over low fees.
Pros
  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Offers the option to work with loan officers by phone if desired.
  • Largest FHA lender in the nation.
Cons
  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.
  • Doesn't offer home equity lines of credit.
Read Full Review
Bethpage Federal Credit Union
Learn more
at Bethpage Federal Credit Union
at Bethpage Federal Credit Union
Bethpage Federal Credit Union

Bethpage Federal Credit Union: NMLS#449104

4.5
Min. credit score

660

Min. down payment

10%

Why We Like ItGood for: borrowers seeking a solid selection of mortgages, low rates and the community-minded business model of a credit union.
Pros
  • Has a fully online mortgage application and a highly rated mobile app.
  • Offers financing for co-ops, a type of home that’s common on the East Coast.
  • FHA rates and fees are on the low side, according to the latest federal data.
Cons
  • In-person service available only on Long Island, New York.
  • Doesn’t offer renovation, construction-to-permanent or USDA loans.
  • Customized rates not available online.
PNC
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on NerdWallet
PNC

PNC: NMLS#446303

5.0
National / regional

National

Min. down payment

5%

Why We Like ItGood for: borrowers with low to moderate incomes or limited down payments, as well as home buyers seeking mortgages in higher-priced regions of the nation.
Pros
  • Offers several low-down-payment loan options, including FHA, VA, USDA and the PNC Community Loan.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Mortgage rates are lower than the industry average, according to the latest federal data.
  • Jumbo loans available with 5% down payment.
Cons
  • Doesn't offer renovation mortgages or home equity loans.
  • In-person service is not available in every state.
  • You’ll have to create an account or supply personal data to get answers by phone.
TD Bank
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TD Bank

TD Bank: NMLS#399800

National / regional

Regional

Max LTV

89.90

Min. credit score

620

Why We Like ItGood for: Borrowers on the East Coast seeking to tap into home equity with a rate discount, especially if there is no time crunch.
Pros
  • Publishes a sample HELOC rate online.
  • Offers a fixed-rate payment option.
  • Available for second homes and investment properties.
Cons
  • $50 annual fee, waived for lines of credit below $50,000.
  • Available only in states on the East Coast.
  • Early termination fee charged if the line is closed within two years.
Bank of America
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on NerdWallet
Bank of America

Bank of America: NMLS#399802

4.0
Home loans overall
NerdWallet rating
Min. credit score

660

Min. down payment

5%

National / regional

National

Why We Like ItGood for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit.
Pros
  • Offers down payment and closing cost assistance programs.
  • May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Doesn't offer renovation or construction-to-permanent mortgage loans.
  • Must enroll in online banking to access Home Loan Navigator.
  • Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
Chase
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on NerdWallet
Chase

Chase: NMLS#399798

3.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: conventional borrowers and those interested in loans with low down payment requirements.
Pros
  • Offers two proprietary loans with low down payment requirements.
  • Provides customizable sample rates.
  • Receives high marks for customer satisfaction, according to JD Power and Zillow.
Cons
  • Borrowers must apply for prequalification before accessing a full online application.
  • Origination fees are higher than average, according to the latest federal data.
  • Borrowers may be frustrated with the lender’s website experience.

» MORE: See the best New York state mortgage lenders

Local mortgage lenders in New York City

Some New York experiences are iconic, like folding your pizza slice so the pointy end doesn't sag toward the ground, dripping grease on your shoes. If you're looking for local New York flavor in a mortgage, these lenders are based in or near New York City and have offices in at least some of the boroughs. They are among the highest-volume lenders in the city. NerdWallet has not reviewed these lenders.

  • 3 branches in Brooklyn, 3 in Manhattan, 3 in Queens, serving all 5 boroughs.

  • Mortgages for one- to four-family units, condos and co-ops.

  • Focuses on Chinese-American communities, with staffers who are fluent in English as well as Cantonese, Mandarin and multiple Chinese dialects including Fujianese.

  • Certified by the U.S. Treasury as a Community Development Financial Institution, working in a market niche that is underserved by traditional financial institutions.

  • 1 office in the Bronx, 2 in Brooklyn, 1 in Manhattan, 1 in Queens.

  • Offers fixed-rate and adjustable-rate mortgages as well as FHA, VA and construction loans.

  • Specializes in mortgages for foreign nationals and nonresident aliens.

  • Prepares preapproval letters for buyers to present with offers on homes.

  • 1 office in Manhattan, 1 in Queens.

  • Offers FHA and VA loans and an array of fixed-rate and adjustable-rate mortgages for purchases and refinances.

  • Offers loans to international college graduates enrolled in Optional Practical Training, and non-permanent residents may borrow up to 90% loan to value.

  • Accepts alternative income documentation.

  • 2 offices in Queens.

  • Offers mortgages for various dwelling types, including condos and co-ops.

  • Mortgages with down payment as low as 3% for low- to moderate-income borrowers.

  • Offers home purchase-renovation loans under FHA 203(k) and Fannie Mae HomeStyle programs.

  • Finances jumbo loans up to $2 million.

More from NerdWallet

Last updated on January 6, 2022

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 City Mortgage Lenders of 2022

  • Rocket Mortgage, LLC: Best for co-op lenders
  • Bethpage Federal Credit Union: Best for jumbo loans & co-op lenders
  • PNC: Best for jumbo loans & ARMs
  • TD Bank: Best for home equity lending & ARMs
  • Bank of America: Best for low down payments
  • Chase: Best for low down payments & home equity lending
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