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Adirondack

Funding

Services

NMLS #12895

 

Apply Online Now!

OR

Call today to speak with a licensed Mortgage Professional!

Phone:

(518) 562-0055

 

Fax:

(518) 562-0174

 

Toll-Free:

(877) 562-0055

 

After Hours:

(518) 643-9995

 

  Main Office    

254 State Route 22B 

Peru, NY 12972

 

Email:

loans@adirondackfunding.com

 

Adirondack Funding Services offers a wide variety of loan programs to serve the needs of individuals and families in today's modern, fast paced world.  Our staff of mortgage professionals have what it takes to handle your purchase, refinancing, renovation or construction needs quickly and smoothly.  As an independent mortgage brokerage agency since 1991, we offer our clients the best competitive rates and most extensive selection of options from the leading mortgage lenders in the industry.  We specialize in providing solutions on all types of residential, investment, mixed-use and commercial properties.  See our "Product Details" or contact a mortgage loan originator directly for more information.
 
VA Loan Program - No Down Payment
USDA Rural Housing Program - No Down Payment
FHA Guaranteed Home Loan Program
CONVENTIONAL - Residential
Manufactured Homes - Double-Wide and Single-Wide
203k RENOVATION Program
VA RENOVATION PROGRAM (NEW)
Conventional RENOVATION Program
CONSTRUCTION Loans - Residential
VA ONE-TIME CLOSE CONSTRUCTION
FHA ONE-TIME CLOSE CONSTRUCTION
USDA ONE-TIME CLOSE CONSTRUCTION
REVERSE MORTGAGE (Home Equity Conversion Mortgage - HECM)
JUMBO Residential
COMMERCIAL - Purchase and Refinance
SOON TO COME

VA Loan Program - No Down Payment

No down payment is required for applicants who are VA Loan Eligible.  Adirondack Funding Services is an approved VA Loan Originator with direct access to the VA Loan System Website.  We will obtain your VA Loan Eligibility Certificate online immediately with a copy of your DD-214.  Credit scores as low at 500.  Call us for more details.

Term: 30 years   Maximum Amount: $424,200
 

Seller concessions to pay your reasonable closing costs and prepaid items are allowed up to full appraised value of the property or the contract sale price, whichever is lower.  Ask your loan office how it works.


USDA Rural Housing Program - No Down Payment

Rural Housing Loans are guaranteed by the USDA's Rural  Development Agency.  Financing up to full appraised value is available on single family owner-occupied residential properties.  No minimum cash is required from the homebuyer, with no limits on gift funds and seller paid closing cost concessions up to full value property.  These loans  feature low fixed rates, 30 year terms with very low monthly mortgage insurance premiums. Homebuyers qualify under liberal credit requirements and family income limits.  Income limits range from $78,200 up to $126,200 based on geographic location and family size.

Term: 30 years   Maximum Amount: $275,665
 

Adirondack Funding Services has extensive experience with the USDA Section 502 Rural Housing Guaranteed Loan Program (RHP).  Adirondack Funding was the very first independent mortgage company in New York to offer this program in the early 90's.  RHP has grown rapidly in popularity due to the low upfront cash requirements, great fixed interest rates, low mortgage insurance premiums and easy qualifying guidelines.  Be sure to ask how this loan program can benefit you.


FHA Guaranteed Home Loan Program

These loans are guaranteed by the Federal Housing Administration (FHA).  They allow prospective homebuyers to qualify with lower down payments and more liberal credit qualifying requirements.  Available in both 15 or 30 year terms, loans are allowed for purchases and refinancing debt.  Credit Scores as low as 580.  Call and ask for more details.

Term: 30 years   Maximum Amount: $275,665

CONVENTIONAL - Residential

Conventional Fixed Rate Mortgage Loans are the most common type of mortgage transactions available to most consumers.  They are available for 10, 15, 20, 25 and 30 year terms.  The Government Sponsored Enterprises (GSE's), commonly referred to as Fannie Mae and Freddie Mac, have made the source of funds and home financing products affordable for American families.  They do so by attracting capital from the public investment markets by selling high quality mortgage backed securities (bonds) and then making capital available to banks and mortgage companies.  These loans feature low fixed or adjustable rates and require good credit, employment stability and low debt ratios compared to other available loan types.

Adirondack Funding Services offers a full line of Conventional Mortgage Loan programs.  These loans may be used for purchase, construction or refinance of 1-4 unit residential properties which may be both owner-occupied primary residences, second (vacation) homes or owned as investment rental property.

Term: 30 years   Maximum Amount: $424,200
 

 


Manufactured Homes - Double-Wide and Single-Wide

VA, FHA and Conventional loan programs on Manufactured Homes.  Credit scores as low as 580.  Renovation projects also available.

Term: 30 years   Maximum Amount: $275,665
 

Manufactured homes built after July 1, 1976 or later with permanent or slab foundation installation with owned land.


203k RENOVATION Program

This program allows a homebuyer or homeowner to purchase a home or refinance a current mortgage while making home improvements and complete general repair projects on any owner-occupied residential 1-4 unit property.  The borrower must retain an insured general contractor who will provide estimates for construction projects up to $35,000.00.  On larger projects, such as building an addition or which require structural repairs and improvements require retaining an approved HUD certified consultant to complete a project plan with cost estimates.  This project plan then is used to provide project specifications and guidelines when shopping for a local contractor.  Ask Adirondack Funding how this program can help you find the right house and get needed improvements done quick and easy.

Term: 30 years   Maximum Amount: $275,665

VA RENOVATION PROGRAM (NEW)

This program allows a veteran homebuyer or homeowner to purchase a home or refinance a current mortgage while making home improvements and complete general repair projects on any owner-occupied residential 1-4 unit property.  The borrower must retain an insured general contractor who will provide estimates for construction projects up to $35,000.00.  Ask Adirondack Funding how this program can help you find the right house and get needed improvements done quick and easy.

Term: 30 years   Maximum Amount: $424,100

Conventional RENOVATION Program

This program allows a homebuyer or homeowner to purchase a home or refinance a current mortgage while making home improvements and complete general repair projects on any owner-occupied or second home 1-4 unit property or single-family residential investment property.  The borrower must retain an insured general contractor who will provide estimates for construction projects up to 50% of the completed appraised value.  On projects, such as building an addition or which require structural repairs and improvements require retaining an approved HUD certified consultant to complete a project plan with cost estimates.  This project plan then is used to provide project specifications and guidelines when shopping for a local contractor.  Ask Adirondack Funding how this program can help you find the right house and get needed improvements done quick and easy.

Term: 30 years   Maximum Amount: $424,200

CONSTRUCTION Loans - Residential

New construction loans are available for owner-occupied primary residences and second homes.  Projects may be completed by an insured general contractor or be self-built by qualified individuals.  Financing available up to 90% of the total cost of building and land.  Generally, construction projects must be completed within twelve months from closing.  Payment of interest is billed monthly on the balance for amounts advanced.  Construction loans are converted to permanent mortgage financing upon completion.

Term: 30 years   Maximum Amount: $424,100
 

Contractor-built, family-built and qualified self-built projects are welcomed.  We do stick built, modular, manufactured and log constructed homes.


VA ONE-TIME CLOSE CONSTRUCTION

VA Guaranteed new construction loans are available for primary owner-occupied residential one to four family homes.  Projects must be completed by an insured general contractor   Financing available up to full amount of the total cost of building, construction and land.  Generally, construction projects must be completed within twelve months or less from closing.  Payment of construction soft costs and construction interest is included in the total contract price  Construction loan and permanent mortgage financing are closed as a single transaction to lower overall closing costs.

Term: 30 years   Maximum Amount: $424,100
 
Call 518-562-0055 or 877-562-0055 for more information. Apply on-line by creating individual secure password protected account on the "Home Page" of this website. Press "Getting Started"

FHA ONE-TIME CLOSE CONSTRUCTION

FHA Guaranteed One-Time Close Construction loans are available for primary owner-occupied residential one to four family homes.  Projects must be completed by an insured general contractor   Financing available up to 96.5% of the total cost of building, construction and land.  Generally, construction projects must be completed within twelve months or less from closing.  Payment of construction soft costs and construction interest is included in the total contract price  Construction loan and permanent mortgage financing are closed at the same time to lower overaqll closing costs.

Term: 30 years   Maximum Amount: $275,665

USDA ONE-TIME CLOSE CONSTRUCTION

USDA Guaranteed One-Time Close Construction loans are available for primary owner-occupied residential single-family homes.  Projects must be completed by a pre-approved and insured general contractor   Financing available up to full amount of the total cost of building, construction and land.  Generally, construction projects must be completed within twelve months or less from closing.  Payment of construction soft costs and construction interest is included in the total contract price  Construction loan and permanent mortgage financing are closed as a single transaction to lower overall closing costs.

Term: 30 years   Maximum Amount: $276,665

REVERSE MORTGAGE (Home Equity Conversion Mortgage - HECM)
This program allows individuals age 62 or older to use the equity in their home to supplement their monthly income, obtain cash to consolidate debts or make home improvements or even purchase a new home without ever worrying about making another loan payment for life. The amount available depends solely on your age and the appraised value of the property. You will always still own your home. However, if you do decide to move or must go into a nursing home you can sell the property anytime and pay off the mortgage amount. Of course, as long as you own the home you still are responsible for paying the property taxes and hazard insurance premiums. And when the house goes to your estate, your heirs have the option to keep the home in the family by paying off the mortgage or sell it. In any event, they are never required to pay anything. The Federal Housing Administration guarantees this amazing loan program which originally was created by the Reagan Administration with the intent to help seniors stay in their homes for as long as they wanted or needed.   Call 518-562-0055 for more answers to your questions or information and to find out how much cash is available to you.
Maximum Amount: $625,000

JUMBO Residential

These programs are for higher value residential properties used as a primary residence or a second/vacation home.  The loan amounts range from $424,201.00 to $3,000,000.00. 

Term: 30 years   Maximum Amount: $3,000,000

COMMERCIAL - Purchase and Refinance

Commercial loans are available on most types of properties and business purposes.  Adirondack Funding specializes in meeting the unique challenges of small businesses throughout New York State.

Term: 30 years   Maximum Amount: $3,000,000
 

Financing for owner-occupied and investment commercial properties.  Loans are available as either fixed or adjustable rate financing depending on the type of property and the loan amount.


SOON TO COME
Term: 30 years   Maximum Amount: $424,200