Best of
Best SONYMA Mortgage Lenders of 2019
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SONYMA programs help first-time home buyers in New York achieve their goal. These are some of the best SONYMA lenders, as determined by NerdWallet.
National / Regional
National
Min. Down Payment
3%
Pros
- Low down payment options.
- Discounts for Citibank customers.
- Looks at alternative credit data like rent history and child support payments.
- Available in all 50 states.
Cons
- Charges a mortgage application fee.
- Did not disclose origination fees, which may vary.
- Can't complete loan online.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
Pros
- Offers digital income, asset and employment verification.
- Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
- One of the nation’s most active lenders of FHA and VA loans.
Cons
- Published mortgage rates include up to three points of prepaid interest and fees.
- Does not offer home equity loans or lines of credit.
Min. Credit Score
550
Min. Down Payment
3%
Pros
- A wide variety of loan types.
- Low credit score requirements for government-backed loans.
- A wealth of educational material on its website.
- Licensed in all 50 states.
Cons
- Mortgage application can't be tracked online.
- Charges origination fees on some loans.
- Limited branch locations.
National / Regional
National
Min. Down Payment
3%
Pros
- A robust suite of loan products.
- Licensed in all 50 states.
- Close in as little as 10 days using the Fairway app.
Cons
- Limited branch locations.
- Mortgage rates not posted on website.
Summary of Best SONYMA Mortgage Lenders of 2019
| Lender | Best For | National/Regional | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Citibank Mortgage | traditional lending | National | 3% | Read review |
loanDepot at loanDepot | nonbank loan products | National | 3.5% | at loanDepot |
 HomeBridge | government-backed loans | National | 3% | Read review |
 Fairway | customer service | National | 3% | Read review |
| Lender | Best For | National/Regional | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Citibank Mortgage | traditional lending | National | 3% | Read review |
loanDepot at loanDepot | nonbank loan products | National | 3.5% | at loanDepot |
HomeBridge | government-backed loans | National | 3% | Read review |
Fairway | customer service | National | 3% | Read review |
More SONYMA participating mortgage lenders
These lenders are among the highest-volume SONYMA participating mortgage companies in New York state. The lenders have not been reviewed by NerdWallet.
Citizens Bank
- Over 100 loan officers in New York state.
- Earn an interest rate discount with automatic payments from your Citizens Bank checking account.
- A dedicated loan officer walks you through the loan process.
M&T Bank
- Based in Buffalo with a long history in New York: It was established in 1892.
- An online application offers “instant preapprovals.”
- Personalized interest rates are available after providing basic information.
HSBC Mortgage Services
- Offices in metro New York City and Long Island.
- The matched savings program offers up to $7,500 in financial assistance to first-time home buyers.
- International borrowers have access to a mortgage services program.
SEFCU Mortgage Services
- Headquartered in Albany, with branches in Lagrangeville and North Syracuse.
- An online application allows you to stop anytime and start where you left off later.
- After submitting a loan application, you can check your loan status online.
Last updated on July 2, 2019
Methodology
To recap our selections...
NerdWallet's Best SONYMA Mortgage Lenders of 2019
- Citibank Mortgage: Best for traditional lending
- loanDepot: Best for nonbank loan products
- HomeBridge: Best for government-backed loans
- Fairway: Best for customer service
