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Quicken Loans
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Rocket Mortgage
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Call Now Toll Free
(800) 762-5471
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First Internet Bank
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Call Now Toll Free
(855) 767-2424
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Hunt Mortgage Corporation
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Artisan Mortgage
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Mainstream Funding Network
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Cross State Funding
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Queen City Funding, Inc.
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Citizens Bank
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When you’re purchasing a home, a mortgage is typically a necessity. But finding the right lender and loan type can be difficult. Because rates and terms can vary from lender to lender, it’s important to compare a few options before settling on one to work with. Once you pick a lender, it’ll help you navigate your mortgage options to figure out which one makes the most sense for your situation. Not every lender will offer all of the options below, so make sure you choose one that offers what you need.
The median city of Buffalo house price is $105,695, according to Zillow, with prices anywhere between $10,000 for a fixer-upper to beautiful mansions near Soldier’s Circle that cost over $1 million. Overall, Buffalo at the time of publishing has an appreciating housing market with homes in all cost segments. Below are median home values at the time of publishing for popular Buffalo areas, according to Zillow:
What is the average mortgage rate in Buffalo?
According to data from the Federal Reserve Bank of St. Louis, the average 30-year fixed-rate mortgage rate is 2.99% at the time of publishing. This is a historically low rate.
How much is a mortgage in Buffalo?
The median price of a home in Buffalo is $105,695, according to Zillow. If you take out a 30-year, fixed-rate mortgage for $85,000 at a 3% interest rate, you would pay around $130,000 in total.
How do you get rid of PMI?
You can get rid of private mortgage insurance once you have at least 20% equity in the home. Once this happens, you can ask your lender to cancel your PMI. A lender is required to terminate PMI when your principal balance is at 78% of the original home value.
Quicken Loans |
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Quicken Loans, a leading U.S. mortgage lender, helps you choose a mortgage type based on your preferences for ease of qualification, loan flexibility, rate security and the amount of money down. Refinancing options are available. Quicken Loans services 99% of its loans, so you’ll work with the same company to make your payments and manage your loan. Apply online, or call to speak with a loan expert to get started. |
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Rocket Mortgage |
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Rocket Mortgage is an online loan experience from Quicken Loans. Buffalo customers can apply 24/7 at their own pace and get assistance anytime from the company’s Home Loan Experts. The company recommends applicants have a credit score of at least 580. Go beyond a pre-qualification letter to get Verified Approval, which helps you compete with cash offers. Refinancing options are also available from Rocket Mortgage. |
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Learn More (800) 762-5471 |
First Internet Bank |
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As an online lender, First Internet Bank provides customers with easy access to mortgage types including adjustable- and fixed-rate loans, jumbo loans, FHA loans and VA loans. Homeowners can also refinance their home or take out home equity loans and lines of credit with First Internet Bank. Customers receive hands-on guidance from its loan officers throughout the virtual process. At the time of publishing, First Internet Bank offers rates as low as 2.2%. |
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Learn More (855) 767-2424 |
Hunt Mortgage Corporation |
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Hunt Mortgage Corporation offers fixed-rate loans, FHA loans, VA loans, USDA loans and jumbo loans. It also provides specialty loans like nonwarrantable condo loans, 203(k) loans for renovations, HomeReady loans for low- to moderate-income buyers and an all-in-one loan program that helps eliminate large portions of interest costs. Mortgage consultants help throughout the homebuying process. Hunt Mortgage Corporation is located at 5400 Broadway St., Lancaster, NY 14086. |
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Artisan Mortgage |
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Artisan Mortgage is a mortgage broker offering a wide range of loan types, including FHA, VA, USDA, fixed-rate, adjustable-rate and jumbo loans. Other options include first-time homebuyer programs, debt consolidation, lines of credit and refinancing. Its broker comparison process can help borrowers get competitively low rates. Artisan Mortgage serves Buffalo from its headquarters on Long Island. |
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Mainstream Funding Network |
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Mainstream Funding Network provides borrowers with fixed-rate and jumbo mortgages. It also offers a variety of additional homebuying services, including debt consolidation, refinancing, escrow waivers, lines of credit, closing cost financing and relocation coordination. At the time of publishing, the rate on a 30-year, fixed-rate mortgage is 3.5%. Mainstream Funding Network is located at 5586 Main St., Williamsville, NY 14221. |
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Cross State Funding |
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Cross State Funding offers broker services for FHA loans, USDA loans, jumbo mortgages and VA loans. It specializes in VA loan funding. Flexible refinancing options are also available for homeowners. Borrowers are provided with the cell phone numbers of employees for access to support anytime. Cross State Funding operates at 416 Oliver St., North Tonawanda, NY 14120. |
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Queen City Funding, Inc. |
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Queen City Funding, Inc. offers fixed-rate, adjustable-rate, VA and FHA loans in Buffalo. Homeowners who want to maximize their monthly income can also take advantage of the company’s refinancing program. Programs are available for those with credit scores as low as 620. Down payments can be as low as 0%. Queen City Funding, Inc. operates at 1416 Sweet Home Road, Ste. 9B, Amherst, NY 14228. |
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Citizens Bank |
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Citizens Bank offers localized mortgage options for Buffalo residents. Customers can get financing to buy a home or build a new home, or they can refinance an existing loan to get lower rates. Get a 0.125% rate discount by setting up automatic payments from a Citizens Bank checking account. Buffalo customers can also use the bank’s new app to manage their loan. Citizens Bank has multiple branches in Buffalo, including one at 1893 Elmwood Ave., Buffalo, NY 14207. |
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