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6 Best SONYMA Mortgage Lenders of 2024

SONYMA helps people achieve the dream of homeownership in the Empire State. See our picks of participating SONYMA lenders.

Barbara Marquand
By
Last updated on February 21, 2024
Edited by
✅ Fact checked and reviewed
Johanna Arnone
Edited by
✅ Fact checked and reviewed

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

  • 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.
  • Governed by NerdWallet's strict guidelines for editorial integrity.
NerdWallet's mortgage content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in home lending. Their work has appeared in The Associated Press, USA Today, The Washington Post, MarketWatch, Newsweek and many other national, regional and local publications. They have been cited in publications including The Wall Street Journal, and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.

Best SONYMA Mortgage Lenders

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
loanDepot

loanDepot: NMLS#174457

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on NerdWallet
Home loans overall
Best for fixer-uppers

620

5%

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on NerdWallet
Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

Top 3 most visited 🏆
Learn more
at Fairway Independent Mortgage
at Fairway Independent Mortgage
3.0
/5
Home loans overall
Best for customer satisfaction

620

3%

Caliber

Caliber: NMLS#15622

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on NerdWallet
3.0
/5
Home loans overall
Best for VA loans

620

3%

LEARN MORE
on NerdWallet
CrossCountry Mortgage

CrossCountry Mortgage: NMLS#3029

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on NerdWallet
3.0
/5
Home loans overall
Best for government-backed loans

620

3%

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on NerdWallet
PrimeLending

PrimeLending: NMLS#13649

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on NerdWallet
3.0
/5
Home loans overall
Best for fixer-uppers

620

3%

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on NerdWallet
loanDepot
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on NerdWallet
loanDepot

loanDepot: NMLS#174457

3.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

5%

Why We Like ItGood for: borrowers who are comfortable with an entirely online experience, and who want a one-stop shop for buying and selling.
Pros
  • Offers a variety of repayment terms.
  • Online loan calculator lets borrowers compare monthly payments and lifetime interest.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • No sample interest rates are provided.
  • Origination fees are on the higher end, according to the latest federal data.
  • Lender’s website does not have a live chat feature.
Read Full Review
Fairway Independent Mortgage
Learn more
at Fairway Independent Mortgage
at Fairway Independent Mortgage
Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers looking for a low-down-payment mortgage, renovation loan, or a specialized mortgage geared to medical professionals.
Pros
  • Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Mortgage rates for different types of loans aren't posted online.
  • Origination fees and mortgage rates are on the high side compared with other lenders, according to the latest federal data.
Caliber
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on NerdWallet
Caliber

Caliber: NMLS#15622

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: first-time home buyers, self-employed borrowers and those who may have credit challenges to overcome.
Pros
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Offers financial assistance, such as grants for down payments or closing costs, to first-time home buyers who qualify.
  • Supports military borrowers with extensive online resources and dedicated VA loan specialists.
Cons
  • No mortgage rates displayed online.
  • Room to improve overall digital experience: No online chat for customer service, and mobile app has poor ratings and reviews.
  • Doesn't offer home equity loans or lines of credit.
CrossCountry Mortgage
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on NerdWallet
CrossCountry Mortgage

CrossCountry Mortgage: NMLS#3029

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: non-traditional borrowers, first-time home buyers and borrowers who need to be approved fast.
Pros
  • Offers a wide range of loan types, including loans for manufactured homes, jumbo loans, government loans (FHA, VA and USDA), home equity loans and HELOCs.
  • Offers programs that make borrowing more accessible, including down payment grants.
  • Offers a FastTrack Credit Approval program, which allows borrowers who have undergone the full preapproval process to close on a loan in as little as seven days once they’ve made an offer.
Cons
  • Does not post rates online.
  • Both mortgage rates and fees are higher than average.
  • Doesn’t offer customer service via live chat.
PrimeLending
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on NerdWallet
PrimeLending

PrimeLending: NMLS#13649

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: those seeking to buy a fixer-upper, build a new home or make renovations.
Pros
  • Offers a broad selection of renovation loans to finance cosmetic upgrades or structural repairs.
  • Issues loan approval letters within 24 hours to borrowers who qualify.
  • Offers resources to connect eligible borrowers with closing cost and down payment assistance programs.
Cons
  • No online mortgage rates — you have to contact the lender for information.
  • Rates and fees are on the high side, according to the latest federal data.
  • Doesn't offer home equity loans or lines of credit.
Movement Mortgage
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on NerdWallet
Movement Mortgage

Movement Mortgage: NMLS#39179

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

National / regional

National

Why We Like ItGood for: borrowers seeking government-backed mortgages or loans for condos, home renovation or construction, especially if speed is an important factor.
Pros
  • Loans can be processed in as little as seven days, the lender says.
  • Offers renovation loans and home equity lines of credit.
  • Movement Boost program can help FHA borrowers with down payment and closing costs.
Cons
  • Borrowers cannot browse sample mortgage rates online.
  • Mortgage rates and fees are on the high side, according to the latest federal data.
  • Recent government regulatory action could affect consumer confidence.

More from NerdWallet

Last updated on February 21, 2024

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.

Lenders included on this page participate in SONYMA programs and have earned at least 3 stars in NerdWallet's home loans overall rating.

To recap our selections...

NerdWallet's Best SONYMA Mortgage Lenders of 2024

  • loanDepot: Best for fixer-uppers
  • Fairway Independent Mortgage: Best for customer satisfaction
  • Caliber: Best for VA loans
  • CrossCountry Mortgage: Best for government-backed loans
  • PrimeLending: Best for fixer-uppers
  • Movement Mortgage: Best for variety of loan types
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