The Best Mortgage Lenders in Cleverdale, NY
Compare verified mortgage lenders serving Cleverdale, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cleverdale
Featured Mortgage Lenders
Adirondack Trust Company
Adirondack Trust Company
As the largest locally-owned community bank in the Capital Region, Adirondack Trust Company has served the Cleverdale and Lake George area for over a century. They consistently earn exceptional ratings for personalized service, competitive rates, and deep local market knowledge. Their mortgage specialists provide customized solutions for primary homes, vacation properties, and investment properties throughout the Adirondack region. With strong community ties and a reputation for reliability, they offer both in-person and digital mortgage services with local decision-making authority.
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Trustco Bank
Trustco Bank
Trustco Bank is a well-established regional bank with multiple branches serving the Cleverdale area and throughout New York. With over a century of experience, they offer competitive mortgage rates and personalized service for both purchase and refinance loans. Their local loan officers understand the unique aspects of Adirondack region properties, including vacation homes and waterfront properties. Trustco receives high marks for transparent communication, straightforward processes, and their commitment to keeping lending decisions local rather than outsourcing to national centers.
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Saratoga National Bank
Saratoga National Bank and Trust Company
Saratoga National Bank has deep roots in the Cleverdale and Lake George region, offering sophisticated mortgage products with the personal touch of a community bank. They specialize in serving the unique needs of the Adirondack market, including vacation properties and higher-value homes. Their mortgage team receives outstanding reviews for responsiveness, expertise with complex transactions, and competitive jumbo loan options. As a locally-managed institution with strong capital reserves, they can offer flexible underwriting and quick decision-making that national lenders often cannot match.
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Frequently Asked Questions
Common questions about mortgage lending in Cleverdale, NY
What are the typical down payment requirements for homes in Cleverdale, NY, given its market?
For Cleverdale's primarily single-family and seasonal homes, conventional loans typically require 5-20% down. However, given the area's popularity as a Warren County vacation destination, some lenders may require a higher down payment (e.g., 20-25%) for properties they classify as second homes or investment properties, which are common here. It's crucial to discuss your property's intended use with your lender upfront.
Are there any first-time homebuyer programs specific to Cleverdale or Warren County?
Yes, the **Sonyea State of New York Mortgage Agency (SONYMA)** programs are accessible to Cleverdale buyers. Particularly relevant is the Low Interest Rate Program, which can offer below-market rates, and the RemodelNY program, which could be useful for updating older Adirondack-style homes. You must meet income and purchase price limits, which are adjusted for the county.
How does Cleverdale's location near Lake George affect the mortgage process?
Lenders will require specific flood zone certifications for properties near the lake or other water bodies. This often mandates a separate flood elevation certificate and could require you to purchase flood insurance, which is an additional, mandatory cost factored into your monthly payment. This is a critical step in the appraisal and underwriting process for many Cleverdale properties.
What should I know about property taxes and escrow when getting a mortgage in Cleverdale?
Property taxes in the Town of Queensbury (where Cleverdale is located) are a significant consideration. Your lender will establish an escrow account to pay your town/county and school taxes. It's important to note that tax rates can vary, and reassessments may occur, so your monthly escrow payment could change annually. Budgeting for potential increases is wise.
Are jumbo loans common in Cleverdale, and what are the requirements?
Given the higher price points for lakefront and premium properties in Cleverdale, jumbo loans (exceeding $766,550 in most of Warren County for 2024) are relatively common. Requirements are stricter, often requiring excellent credit (FICO 740+), a down payment of 20% or more, and significant cash reserves (often 6-12 months of payments) post-closing.
Nearby Cities
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Why Choose a Mortgage Lender in Cleverdale?
Local Market Knowledge
Lenders who understand Cleverdale's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in New York.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Cleverdale and get competitive rates on your home loan.