The Best Mortgage Lenders in Stillwater, NY
Compare verified mortgage lenders serving Stillwater, New York. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Stillwater
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its competitive rates, exceptional customer service, and extensive loan options. With a strong local presence in the Capital District, they have consistently high ratings for their personalized approach and efficiency in processing mortgages for homebuyers in Stillwater and surrounding areas. Their team of experienced loan officers ensures a smooth and transparent process, making them a trusted choice in the region.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is renowned for its innovative digital mortgage platform and competitive pricing, offering a seamless online experience combined with local expertise. They have a dedicated office in Albany that serves the Stillwater area, with high customer satisfaction ratings for their responsive service and wide range of loan products. Their commitment to technology and customer care makes them a preferred lender for many homebuyers in Upstate New York.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage stands out for its community-focused approach and efficient loan processing, with a reputation for excellent customer service and competitive rates. Serving Stillwater and the broader Capital Region, they offer personalized mortgage solutions and have a strong track record of supporting local homebuyers. Their dedication to giving back to the community and providing straightforward, honest advice has earned them high praise and loyalty from clients.
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Frequently Asked Questions
Common questions about mortgage lending in Stillwater, NY
What are the typical mortgage rates and closing costs for a home in Stillwater, NY?
Mortgage rates in Stillwater are generally aligned with national averages, but closing costs in New York State are among the highest in the country. You can expect to pay between 2% to 5% of the home's purchase price in closing costs, which includes state-specific transfer taxes and mortgage recording taxes. Working with a local lender familiar with Saratoga County can help you get accurate estimates and potentially find ways to reduce some fees.
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Stillwater?
Yes, first-time homebuyers in Stillwater can access several programs. The New York State Homes and Community Renewal (HCR) offers the Achieving the Dream program, which provides down payment assistance. Additionally, the SONYMA (State of New York Mortgage Agency) offers low-interest mortgages with low down payment options, which are particularly helpful in Saratoga County's competitive market.
How does Stillwater's proximity to the Saratoga Race Course and GlobalFoundries impact the mortgage process?
This proximity creates a strong, stable housing market with consistent demand, which lenders view favorably. However, it also means appraisals can be challenging due to rapidly shifting comparable sales, especially during the summer racing season. It's crucial to work with an appraiser and lender experienced in the local market to ensure a smooth valuation process for your loan.
What should I know about property taxes and flood insurance when getting a mortgage in Stillwater?
Stillwater has a village and town tax structure, and property taxes are a significant consideration for mortgage affordability. Furthermore, due to the town's location along the Hudson River and near the Saratoga National Historical Park, certain properties may be in FEMA-designated flood zones. Your lender will require a flood certification, and if needed, flood insurance, which will be factored into your monthly mortgage payment.
Are USDA rural housing loans available for homes in Stillwater, NY?
Yes, parts of Stillwater are eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This can be a major advantage for eligible buyers looking at properties in the more rural sections of the town. You should check the USDA eligibility map for the specific property address, as the village center may not qualify, but many surrounding areas do.
Nearby Cities
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Why Choose a Mortgage Lender in Stillwater?
Local Market Knowledge
Lenders who understand Stillwater'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 Stillwater and get competitive rates on your home loan.