The Best Mortgage Lenders in Glens Falls, NY
Compare verified mortgage lenders serving Glens Falls, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Glens Falls
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong regional presence in the Glens Falls area through its Albany office. Known for competitive rates and a digital-first approach, they offer a wide range of loan products and have built a reputation for excellent customer service and fast closings. Their high ratings stem from transparent processes, personalized support from local loan officers, and efficient online tools, making them a preferred choice for homebuyers in upstate New York.
Loan Types:
LoanDepot
LoanDepot, LLC
LoanDepot is a highly regarded national lender serving Glens Falls with a local Albany office, offering a variety of mortgage options and emphasizing technology-driven solutions. They are praised for their competitive rates, flexible loan programs, and responsive customer service. With numerous positive reviews highlighting smooth application processes and knowledgeable staff, LoanDepot has established itself as a reliable option for both first-time and experienced homebuyers in the region.
Loan Types:
New American Funding
New American Funding, Inc.
New American Funding is a well-established mortgage lender with a strong presence in the Glens Falls area through its Albany branch. They are recognized for their commitment to diversity, community involvement, and offering tailored loan solutions, including programs for low-to-moderate income borrowers. High customer satisfaction ratings reflect their dedication to personalized service, competitive rates, and efficient processing, making them a trusted partner for home financing in upstate New York.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Glens Falls, NY
Are there any special first-time homebuyer programs available in Glens Falls, NY?
Yes, the New York State Homes and Community Renewal (HCR) offers the Achieving the Dream program, which provides down payment assistance of up to $15,000 for eligible first-time buyers in Glens Falls. Additionally, the SONYMA Low Interest Rate Mortgage program is popular locally and offers competitive rates with low down payment options, which is beneficial given the city's median home prices.
How do property taxes in Glens Falls impact my mortgage affordability?
Warren County, which includes Glens Falls, has property tax rates that are above the national average, which can significantly affect your total monthly payment. When getting pre-approved, lenders will calculate your debt-to-income ratio including these taxes, so it's crucial to budget for them. Consulting with a local loan officer can help you understand the exact tax impact on homes in specific neighborhoods.
What is the typical down payment needed for a home in Glens Falls' competitive market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many local buyers successfully purchase homes with 3-5% down using conventional loans, or 3.5% with an FHA loan. Given the relatively affordable market compared to larger metro areas, saving for a down payment is more achievable here, but being prepared with at least 5% can make your offer more competitive in sought-after neighborhoods.
Are there specific mortgage considerations for buying a historic home in Glens Falls?
Yes, Glens Falls has several historic districts, like the Downtown Historic District. Financing a historic home may require a specialized appraisal and could involve stricter inspection requirements for older electrical, plumbing, or foundations. Some renovation loans, like the FHA 203(k), can be particularly useful here to finance both purchase and approved upgrades while preserving historic character.
How do seasonal employment trends in the Glens Falls area affect mortgage qualification?
The local economy has seasonal elements tied to tourism in the Adirondacks. If your income is seasonal or commission-based (e.g., in hospitality, construction, or healthcare at the local hospital), you'll typically need a two-year history of that income to qualify for a mortgage. A local lender familiar with the area's economic cycles can best guide you on documenting this variable income effectively.
Nearby Cities
Explore mortgage lenders in cities near Glens Falls, NY
Why Choose a Mortgage Lender in Glens Falls?
Local Market Knowledge
Lenders who understand Glens Falls'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 Glens Falls and get competitive rates on your home loan.