Warren County NY: Home Mortgage & Refinance Options, Including USDA Mortgage Eligibility
Warren County offers homeowners a diversity of options, from urban lofts to historic village homes, from lakeside estates to rugged mountain cabins nestled amid the Adirondack Mountains. Home to the beautiful 32-mile long Lake George, popular ski resorts such as Gore Mountain, and a wealth of hiking and biking trails, the area truly offers four seasons of activities for both residents and visitors alike.
USDA Mortgage Availability in Warren County
Due to the county’s diversity, homeowners may find several mortgage options available, including USDA loans, depending on location. You can check specific addresses on the USDA.gov site here.
Tucked into the county’s southeast corner is the city of Glens Falls, a small and friendly metropolitan area that retains much of the charm that earned the city its title of “Hometown U.S.A.” during the 1940s. An energetic downtown boasts shops, restaurants, pubs and theatres with repurposed garment factories providing wonderful commercial and residential loft spaces. Tree-lined neighborhoods feature rows of historic homes with their quintessential front porches and small-town appeal.
Queensbury, to the north of Glens Falls, is where you’ll find shopping malls and outlets, big box stores, and restaurant franchises, as well as many popular and well-tended suburban neighborhoods. Much of Queensbury is also ineligible for USDA Mortgages.
Travel farther north and you enter the scenic foothills of the Adirondacks and the charismatic village of Lake George. Other towns and villages along the county’s charming byways and highways include Bolton Landing, Brant Lake, Chestertown, Lake Luzerne, North Creek and Warrensburg. This large portion of Warren County is fully eligible for USDA mortgages, providing potential homeowners with a wealth of choices for both small village and rural living.
Other Government Mortgages Available in Warren County
While parts of Warren County may be ineligible for USDA mortgages, Maple Tree Funding can help potential and existing homeowners with other mortgage or refinance options, including government-assisted mortgages:
FHA Loans
Insured by the Federal Housing Administration, FHA Mortgages are popular among Warren County’s first time homebuyers for their reduced down payment and lower rates.
VA Loans
Available to qualifying veterans, service members, and their spouses, VA Mortgages can often get you more favorable terms than conventional mortgages. The first step to obtaining a VA mortgage in Warren County is to determine if you’re eligible to participate.
Additional Warren County Mortgage Options
There are also a variety of non-government home loan options available for those interested in purchasing homes in Warren County. Here are a few:
Conventional Mortgages
The most popular type of mortgage, nearly 50% of all mortgages issued are conventional mortgages. We have access to dozens of mortgage bankers to find the best mortgage rates and loan programs for your specific needs.
Conforming Mortgages
Borrowers whose loan size and debt-to-income ratio meet the specific criteria of conforming loans enjoy lower interest rates, which means lower monthly mortgage payments and less money spent over the life of the loan in interest.
Non-Conforming Mortgages
If you don’t qualify for a conforming mortgage, non-conforming home loans are available to individuals borrowing greater amounts or likely with a down payment of less than 20%.
Jumbo Mortgages
A type of non-conforming loan, jumbo home mortgage loans are available in Warren County for borrowers needing a mortgage exceeding the maximum conforming loan limit for a single-family home. Multi-unit properties may have different limits.
Let Us Help You Secure Your NY Mortgage in Warren County
Maple Tree Funding is licensed to originate loans throughout New York State and can help you discover all the options available, based on the location you are interested in as well as your financial profile.
Unlike local banks which are limited to only the mortgage and loan programs they personally provide, Maple Tree works with dozens of lenders. This gives us the ability to find the most competitive rates on the market for your particular circumstances, whether it’s a government-sponsored loan or a fixed-rate mortgage. We’ve even successfully helped those with bad credit achieve their dreams of owning a home.
Contact Maple Tree for a free consultation to help you understand what mortgage options are available to you. Or, give us a call at 518-782-1202 and get started on the path to home ownership today!