Best of

Best SONYMA Mortgage Lenders of 2019

NerdWalletJuly 2, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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.

Citibank Mortgage

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National / Regional 
National 

Min. Down Payment 
3% 


Why we like it

Ideal for first-time home buyers or those with weaker credit. Citibank Mortgage, a large-scale lender with a full menu of home loan products, offers low down payment options and considers alternative credit data.

Rating and Review

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.

Read Full Review
Logo

at loanDepot

loanDepot

Logo
Min. Credit Score 
620 

Min. Down Payment 
3.5% 

at loanDepot


Why we like it

Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.

Rating and Review

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.

Read Full Review

HomeBridge

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Min. Credit Score 
620 

Min. Down Payment 
3% 


Why we like it

Ideal for borrowers who prefer an online experience. Homebridge offers a variety of home loan options and an online application.

Rating and Review

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.

Read Full Review

Fairway

Logo
National / Regional 
National 

Min. Down Payment 
3% 


Why we like it

Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.

Rating and Review

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.

Read Full Review

Summary of Best SONYMA Mortgage Lenders of 2019

LenderBest ForNational/RegionalMinimum Down PaymentLearn More
Citibank Mortgage

Citibank Mortgage

traditional lending

National

3%

Read review
loanDepot

loanDepot

at loanDepot

nonbank loan products

National

3.5%

at loanDepot

HomeBridge

HomeBridge

government-backed loans

National

3%

Read review
Fairway

Fairway

customer service

National

3%

Read review
LenderBest ForNational/RegionalMinimum Down PaymentLearn More
Citibank Mortgage

Citibank Mortgage

traditional lending

National

3%

Read review
loanDepot

loanDepot

at loanDepot

nonbank loan products

National

3.5%

at loanDepot

HomeBridge

HomeBridge

government-backed loans

National

3%

Read review
Fairway

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.

» MORE: See the best New York mortgage lenders

Last updated on July 2, 2019

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best SONYMA Mortgage Lenders of 2019