Best Mortgage Lenders in New York 2026: Top 10 Ranked
New York's median home price is $415,000 — but NYC metro homes average $850K+. Finding the right lender saves you $31,000+ over 30 years. We ranked 10 NY mortgage lenders by rates, fees, jumbo loan options, and SONYMA first-time buyer programs. Rates from 6.09%. Compare in 60 seconds.
New York Mortgage Quick Facts (August 2026)
Top 10 New York Mortgage Lenders Compared
| # | Lender | Rate | Fees | Min Credit | Close Time | Best For | NY Presence |
|---|---|---|---|---|---|---|---|
| 1 | Rocket Mortgage | 6.09% | $1,200 | 620 | 21 days | Best overall — fastest close, fully digital | All 62 NY counties |
| 2 | Wells Fargo | 6.15% | $1,000 | 620 | 30 days | Best for jumbo loans up to $3M | 200+ NY branches |
| 3 | Chase Bank | 6.18% | $1,200 | 620 | 30 days | Relationship discount 0.125-0.25% off | 400+ NY branches |
| 4 | Better.com | 6.12% | $0 | 620 | 23 days | Lowest cost — $0 lender fees | Online only |
| 5 | SONYMA Lenders (HSBC) | 6.25% | $900 | 640 | 35 days | Best for first-time buyers (SONYMA DPA) | SONYMA-approved |
| 6 | Veterans United | 5.25% | $0 | 620 | 30 days | Best for VA loans ($0 down) | Online + NY offices |
| 7 | loanDepot | 6.20% | $1,000 | 620 | 25 days | Wide loan variety, strong refinance | 50+ NY loan officers |
| 8 | Bank of America | 6.22% | $1,000 | 620 | 30 days | Good jumbo rates for banking customers | 250+ NY branches |
| 9 | Guaranteed Rate | 6.15% | $800 | 580 | 25 days | Best for FHA (580 credit accepted) | 30+ NY loan officers |
| 10 | TD Bank | 6.20% | $950 | 620 | 30 days | Strong Northeast presence, good service | 150+ NY branches |
Rates as of August 3, 2026. 30-year fixed. Actual rates vary by credit score, LTV, and county.
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Get My NY Lender Quotes →SONYMA First-Time Buyer Programs in New York
SONYMA (State of New York Mortgage Agency) offers down payment assistance and below-market rates for first-time homebuyers. These programs can provide up to $15,000 in forgivable DPA — meaning significantly less out of pocket.
SONYMA Conventional Plus
3% down conventional loan with up to $15,000 DPA as a forgivable second mortgage. Forgiven after 10 years.
- • Max purchase price: $806,500 (most counties)
- • Income limit: $81,000-$166,000 (varies by county)
- • Must be first-time buyer (or not owned in 3 years)
- • 640+ credit score required
SONYMA FHA Plus
3.5% down FHA loan combined with up to $15,000 DPA. 580 credit accepted. Great for lower credit scores.
- • 3.5% down (DPA can cover part)
- • 580+ credit score
- • 43% max DTI
- • MIP required (can be removed via refi)
New York Jumbo Loans (Above $1.2M)
In NYC metro (Manhattan, Brooklyn, Queens, Westchester, Long Island), median home prices frequently exceed $800K. Jumbo loans are essential for many NY buyers. Here are the best jumbo lenders in New York:
| Lender | Max Jumbo | Rate | Min Down | Min Credit |
|---|---|---|---|---|
| Wells Fargo | $3,000,000 | 6.40% | 15% | 680 |
| Bank of America | $2,500,000 | 6.45% | 20% | 700 |
| Chase Bank | $2,000,000 | 6.50% | 20% | 700 |
| Rocket Mortgage | $2,000,000 | 6.55% | 15% | 680 |
New York Conforming Loan Limits by County (2026)
| County | Conforming Limit | FHA Limit | VA Limit |
|---|---|---|---|
| New York (Manhattan) | $1,209,750 | $1,149,825 | $1,209,750 |
| Kings (Brooklyn) | $1,209,750 | $1,149,825 | $1,209,750 |
| Queens | $1,209,750 | $1,149,825 | $1,209,750 |
| Nassau (Long Island) | $1,209,750 | $1,149,825 | $1,209,750 |
| Westchester | $1,209,750 | $1,149,825 | $1,209,750 |
| Suffolk (Long Island) | $1,209,750 | $1,149,825 | $1,209,750 |
| Erie (Buffalo) | $806,500 | $806,500 | $806,500 |
| Albany | $806,500 | $806,500 | $806,500 |
Limits as of 2026. Source: FHFA, HUD, VA. NYC metro counties exceed standard $806,500 limit.
Frequently Asked Questions
What are the best mortgage lenders in New York?
Rocket Mortgage (6.09%, best overall), Wells Fargo (best jumbo to $3M), Chase (relationship discounts, 400+ NY branches), SONYMA lenders (first-time buyer DPA up to $15K), Veterans United (VA $0 down). Compare 3+ lenders — NY rates vary by 0.5%.
What is the New York conforming loan limit in 2026?
Standard: $806,500. High-cost NYC metro counties (Manhattan, Brooklyn, Queens, Nassau, Suffolk, Westchester): $1,209,750. FHA: up to $1,149,825. VA: $1,209,750 (full entitlement). Above these = jumbo loan.
Does New York have first-time home buyer programs?
Yes — SONYMA offers Conventional Plus (3% down + up to $15K DPA), FHA Plus (3.5% down + DPA), Achieving the Dream (below-market rates), and Homes for Veterans (discounted rates). Income limits $81K-$166K by county.
How much down payment do I need to buy a house in New York?
Conventional: 3% down. FHA: 3.5% down. VA: 0% down. SONYMA: 3% + DPA grant up to $15K. On $415K median NY home: 20% = $83,000, 3.5% FHA = $14,525, SONYMA = potentially $0 out of pocket.
Are jumbo loans common in New York?
Yes — especially in NYC metro, Long Island, and Westchester where median prices exceed $800K. Best jumbo lenders: Wells Fargo ($3M), BofA ($2.5M), Chase ($2M), Rocket ($2M). Need 680+ credit, 15-20% down.
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