Yes: in New York, mortgage loan officers need a state license issued by the New York State Department of Financial Services (DFS). You can check a name yourself on NMLS Consumer Access.
Mortgage loan officers in New York: what buyers ask
What first-time buyer programs does New York offer?
In New York, SONYMA, the state mortgage agency, adds a 0% down payment loan of 3% of the price, up to $15,000, to any of its mortgages. In New York City, HPD's HomeFirst program lends up to $100,000 to first-time buyers earning up to 120% of area median income.
What does an FHA loan require?
FHA loans need 3.5% down with a 580 credit score. Upfront mortgage insurance is 1.75% and the annual premium is 0.55% at 96.5% LTV.
Check a mortgage loan officer yourself
- License required · New York State Department of Financial Services (DFS)
- Titles you will see: Mortgage loan originator
- Check a name yourself: NMLS Consumer Access (we could not open this search page ourselves)
The 5 sectors of New York City
Manhattan · The Bronx · Brooklyn · Queens · Staten Island