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Adirondack Funding Services NMLS# 12895

Ask a Mortgage Professional!          

Main Office:
254 State Route 22B
       Peru, NY 12972

             

Mailing Address:
254 State Route 22B
Peru, NY 12972

Phone: (518) 562-0055
Toll-Free: (877) 562-0055
After Hours: (518) 643-9995

Fax: (518) 562-0174


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.
 
USDA Guaranteed Rural Housing Program - No Down Payment Required
FHA Guaranteed Home Loan Program
Conventional Purchase & Renovation Program - Fixed Rate
FHA 203k Renovation Program - Purchase or Refinance
Manufactured Homes - Double-Wide and Single-Wide
Reverse Mortgage (Home Equity Conversion Mortgage - HECM)
VA Loan Program - No Down Payment Required
Conventional Purchase and Refinance Rehabilitation Program
Construction Loans - Residential
Conventional - 1- 4 unit Residential Onwer Occupied, Second Home and Investor Properties
Conventional - Jumbo Residential
Commercial - Purchase and Refinance

USDA Guaranteed Rural Housing Program - No Down Payment Required

Rural Housing Loans are guaranteed by the USDA's Rural Economic Development Agency.  Financing up to 100% of 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 6% of the sale price.  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 up to $112,350 based on geographic location and family size.

Term: 30 years  
 

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 530.  Call and ask for more details.

Term: 30 years   Maximum Amount: $271,050

Conventional Purchase & Renovation Program - Fixed Rate

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, second home or investment residential 1-4 unit property.  The borrower must retain an insured general contractor who will provide estimates for construction projects up to 50% of the completed 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: $417,000

FHA 203k Renovation Program - Purchase or Refinance

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: $271,050

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: $271,500
 

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


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. There are no minimum credit score or income requirements. 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. No credit score or income requirements.  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

VA Loan Program - No Down Payment Required

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 580.  Call us for more details.

Term: 30 years   Maximum Amount: $417,000
 

Seller concessions to pay your closing costs and prepaid items are allowed up to 6% of the sale price.  Ask your loan office how it works.


Conventional Purchase and Refinance Rehabilitation Program

Finance up to 100% of the property value in renovation costs.  Investor properties are eligible.  Low costs and low down payment requirements.  Contact us for current information


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: $417,000
 

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


Conventional - 1- 4 unit Residential Onwer Occupied, Second Home and Investor Properties

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 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: $417,000
 

 


Conventional - 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 $417,000.00 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 the North Country Region of New York.

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

Financing for owner-occupied and investment commercial properties up to 90% of purchase price or appraisal fair market value, whicher is less.  Loans are available as either fixed or adjustable rate financing depending on the type of property and the loan amount.