A mortgage loan program is the rulebook a loan follows: who insures or buys it, how large it can be and what you need to qualify. The main choices for Long Island buyers and homeowners are conventional and jumbo loans, FHA and VA loans and refinances, while bridge, DSCR and reverse mortgages serve narrower situations. Which one fits depends on your goal, credit, savings and the property.
- In 2026 the one-unit conforming limit in Nassau and Suffolk is $1,209,750; larger loans are jumbo loans.
- FHA’s 2026 one-family limit in both counties is $1,249,125, and VA sets no loan limit with full entitlement, though lender approval still applies.
- I offer private down payment assistance programs available through lenders I work with; terms and eligibility vary by program and lender, and not everyone will qualify.
Loans for buying a home
Many buyers qualify for several of these, so price them side by side. Looking at a co-op? The lender reviews the building as well as you, and the board has its own approval; my guide to co-op loans on Long Island covers both.
Home purchase loans
The path from preapproval to closing on a Nassau or Suffolk home: the contract, the appraisal and New York closing costs. First-time buyersFirst-time home buyer guide
Who counts as a first-time buyer, the loans that fit, closing costs, STAR, a 90-day plan and the documents to gather before you apply. First-time buyersDown payment assistance
Private programs available through lenders I work with, not state or county programs: how they work, who may qualify and what to confirm first. BuyingConventional and jumbo loans
Loans outside government programs: conforming loans follow Fannie Mae and Freddie Mac rules, and jumbo rules vary by lender. Government-insuredFHA loans
Federal Housing Administration insurance, credit score minimums HUD describes as lower than most conventional loans, and room for gifts and approved assistance. Government-backedVA loans
For eligible veterans, service members and certain surviving spouses, starting with your Certificate of Eligibility.Loans for current homeowners
Options built on the home and equity you already have. Refinancing? My refinance timeline shows each step, from application to your first new payment.
Refinance and cash-out
Rate-and-term and cash-out refinances on Long Island and in New York City, FHA Streamline and VA IRRRL options, and how a CEMA may reduce New York mortgage recording tax. Home equityReverse mortgages
How a HECM, the only federally insured reverse mortgage, works for owners 62 and older on Long Island and in New York City: required counseling, the taxes, insurance and upkeep you must keep paying, and when the loan comes due. Plus jumbo reverse loans for homes above the HECM limit, which aren’t federally insured.This page is not from HUD or FHA and was not approved by HUD or any government agency.
Loans for investors
Rentals and renovation projects are underwritten differently from a home you live in.
Investment property and fix-and-flip
1–4 family rentals, multifamily and mixed-use buildings, and short-term renovation loans on Long Island and in New York City, and what lenders look for in each. InvestorsDSCR loans
For rentals you won’t live in: how lenders may weigh the debt-service coverage ratio, a property’s cash flow divided by its debt service.Special situations
Timing and credit history can shape your options as much as the house does.
Bridge loans
Buying your next home on Long Island or in New York City before the current one sells: how bridge financing or a home equity line can fill the gap, and how lenders count both housing costs. CreditLow credit score
A low credit score, a past bankruptcy or foreclosure, or credit report errors: which programs can work with a 600 score, how waiting periods work, how to dispute mistakes for free and how to spot credit repair scams.How your pay counts, by job
How you’re paid shapes how a lender counts your income. Each guide below covers one way of getting paid: what counts, what needs a track record and what to have ready.
Nurses and hospital staff
Three 12s, overtime, shift differentials, per-diem and travel pay, and buying on a new-grad offer letter. TeachingTeachers
How a 10-month salary is counted, why tenure usually isn’t required, and closing before your first paycheck. Union tradesUnion members
Hiring-hall W-2s from several contractors, winter layoffs, step raises, union dues and what your annuity fund can do. First respondersPolice, firefighters and EMTs
Academy and probation pay, overtime and shift differential, and what a pension can and can’t do for your down payment. Self-employedSelf-employed and 1099 income
Own a business or paid on a 1099? How lenders count your income after write-offs, what to have ready, and bank statement and 1099 loans.Long Island numbers that shape every program
These local figures decide which program a loan falls into. Closing costs come on top, including the New York mortgage recording tax; your Loan Estimate and closing attorney show the exact amounts.
- Conforming limit. $1,209,750 for one unit in 2026, below the $1,249,125 national high-cost ceiling. FHFA publishes the next year’s limits in late November.
- FHA limit. $1,249,125 for a one-family home in both counties. My county-by-county loan limits page has both limits for one to four units.
Prices decide which of those lines a purchase crosses. Per OneKey MLS, the August 2026 single-family median was $911,000 in Nassau and $760,000 in Suffolk; my page of Nassau and Suffolk home prices by month has the trend. This page doesn’t quote rates; see what moves mortgage rates, test a payment with the mortgage payment calculator, or find how much house you can afford on Long Island.
Areas I serve
From Long Beach to Southold, I can compare these programs for you.
Nassau County mortgages
Hempstead, North Hempstead and Oyster Bay, plus Glen Cove and Long Beach. One county department assesses every parcel; grievances go to the Assessment Review Commission. County guideSuffolk County mortgages
Ten towns, from Babylon and Huntington east to Southampton and Southold. Each town’s assessor sets assessments, so assessment and grievance questions start there.How to choose: who each program generally fits
A starting point, not a rule: every program is subject to eligibility, credit and property approval.
| Program | Generally fits |
|---|---|
| Conventional (conforming) | Solid credit and savings, with a loan within the $1,209,750 one-unit limit |
| Jumbo | Larger loans; rules vary by lender, and the cost may be higher |
| FHA | Buyers still building credit or savings, including with gifts or approved assistance |
| VA | Eligible veterans, service members and certain surviving spouses |
| Down payment assistance | Buyers who meet a private program’s rules, through lenders I work with; terms and eligibility vary by program and lender |
| Refinance or cash-out | Owners replacing their loan or borrowing against equity |
| Reverse mortgage (HECM) | Owners 62 or older living in the home who can keep up with taxes, insurance and upkeep |
| Investment property or fix-and-flip | Investors buying rentals, mixed-use buildings or flips |
| DSCR | Investors financing a rental they won’t live in |
| Bridge | Owners buying before they sell who can carry both homes |
| Low credit score | Borrowers rebuilding after bankruptcy, foreclosure or credit report errors |
How I help you compare
I arrange loans with the lenders I work with, so I can compare programs across them for you. More about how I work.
- Start with your goal. Your plans, timeline, income, savings and credit. My mortgage document checklist shows what to gather for pre-approval.
- Narrow the field. Two or three programs, each with a tested monthly budget.
- Get preapproved. Useful, but not a guaranteed loan offer or a commitment, and it doesn’t tie you to one lender. It takes only a soft credit check, so your credit score isn’t affected.
- Compare Loan Estimates. Choose once you have official Loan Estimates, with your own attorney reviewing the contract, as the New York Attorney General recommends.
Frequently asked questions
What are the 2026 mortgage loan limits on Long Island?
For 2026, Nassau and Suffolk share a $1,209,750 conforming limit for one unit and a $1,249,125 FHA limit for a one-family home. Conventional loans above the conforming limit are jumbo loans. With full entitlement, VA sets no loan limit, though the lender still has to approve the loan.
Are you a mortgage lender?
No. I'm a loan officer with Scott Capital Group. I don't make or fund loans; I arrange them with the lenders I work with and compare their programs for you.
Is a preapproval the same as a loan approval?
No. The CFPB says prequalification and preapproval letters state the most a lender is willing to lend under certain assumptions, and neither is a guaranteed loan offer. Getting one also doesn't commit you to that lender.
Can I buy my next home before I sell my current one?
Possibly, if you can qualify while carrying both homes. A bridge loan or a home equity line on your current home can cover the gap. The CFPB cautions that a HELOC lender may freeze or limit draws if your home's value falls significantly, and that falling behind could cost you your home. Both are subject to approval.
Can I get a mortgage after a bankruptcy or foreclosure?
Possibly. FHA and Fannie Mae set waiting-period guidelines measured from events such as a bankruptcy discharge or a completed foreclosure, and lenders may add their own rules. Meeting a waiting period doesn't by itself mean approval. Start by checking your free credit reports at AnnualCreditReport.com.
Sources
- Loan limits: FHFA, FHFA Announces Conforming Loan Limit Values for 2026; FHFA, 2026 conforming loan limits, full county list (spreadsheet); FHFA, Conforming Loan Limit Values FAQs; HUD, FHA Mortgage Limits lookup (FHA Forward, CY2026, Nassau and Suffolk, NY).
- Conventional and jumbo: CFPB, Conventional loans; CFPB, What is a jumbo loan?.
- FHA and VA: HUD, FHA Myths v Facts; HUD, Mortgagee Letter 2023-05; VA.gov, Eligibility for VA home loan programs; VA.gov, VA home loan limits; VA.gov, Interest Rate Reduction Refinance Loan.
- Refinance and New York taxes: New York State Senate, NY Tax Law §255 and NY Tax Law §253.
- Reverse mortgages: HUD, FHA Reverse Mortgage for Seniors (HECM); CFPB, Can anyone take out a reverse mortgage loan?.
- Investors and bridge financing: OCC, Comptroller’s Handbook, Commercial Real Estate Lending (glossary); Fannie Mae, Selling Guide B3-4.3-14, Bridge/Swing Loans; Fannie Mae, Selling Guide B3-6-06, Qualifying Impact of Other Real Estate Owned; CFPB, What is a home equity line of credit (HELOC)?.
- Credit: Fannie Mae, Selling Guide B3-5.3-07, Significant Derogatory Credit Events; HUD, Single Family Housing Policy Handbook 4000.1; FTC, Free Credit Reports; CFPB, How do I dispute an error on my credit report?; FTC, Fixing Your Credit FAQs.
- Preapproval and buying: CFPB, What’s the difference between a prequalification letter and a preapproval letter?; CFPB, Get a preapproval letter; New York State Attorney General, Homeowners.
- Local market and counties: OneKey MLS, Footprint Round-Up, September 22, 2026 (August 2026 data); Nassau County, Popular Annual Financial Report FY2024; Nassau County, What the Department of Assessment Does; Nassau County, Assessment Review Calendar; Suffolk County, Towns and Villages; Suffolk County Real Property Tax Service Agency, FAQs.
This page is general information, not a commitment to lend or a rate quote. Loan programs, limits and requirements change and are subject to eligibility, credit and property approval, and lender underwriting. Kevin deNeergaard, NMLS #2450179; Scott Capital Group, NMLS #876527. Registered Mortgage Broker – NYS Department of Financial Services. All mortgage loans arranged with third-party providers. Equal Housing Opportunity.