Home financing in Warren County.

Home financing is any loan or assistance program that helps you purchase, refinance, or improve a residential property. In Warren County, the most common paths are:

**Conventional mortgages** — loans made by banks or credit unions that follow guidelines set by Fannie Mae or Freddie Mac. These typically require a credit score of 620 or higher and a down payment of at least 3–5%.

**FHA loans** — insured by the Federal Housing Administration, these allow down payments as low as 3.5% and are more forgiving of lower credit scores. They are a popular choice for first-time buyers in Glens Falls and surrounding towns.

**USDA Rural Development loans** — parts of Warren County outside the Glens Falls metro qualify for USDA loans, which can offer zero-down-payment financing to income-eligible buyers. Rural areas around Warrensburg, Chestertown, and Bolton Landing may qualify.

**VA loans** — available to veterans and active-duty service members with no down payment required.

**ITIN-based mortgages** — if you do not have a Social Security number, some local lenders and CDFIs will accept an Individual Taxpayer Identification Number (ITIN) in its place. This is a real and legal option — see Section 4 for local lenders who offer it.

**Hard money / private loans** — short-term loans from private investors, sometimes used by small real-estate investors for fix-and-flip projects. These carry higher rates and are not recommended for primary home purchases.

The right option depends on your income, credit history, immigration status, and whether the property is a primary residence, rental, or seasonal home. A local lender or housing counselor can help you figure out which path fits your situation — without any obligation to apply.

Warren County's economy is shaped by tourism, healthcare, construction, and small retail. Many residents are self-employed tradespeople, seasonal workers, or dual-income households with variable pay — all of which affect how lenders review your application.

**If you are a solo contractor or self-employed:** Lenders will typically ask for two years of tax returns and a profit-and-loss statement. Your qualifying income is usually an average of your net income over those two years, not your gross revenue. If you recently became self-employed, some lenders may require additional documentation or a co-borrower.

**If you work seasonally:** Warren County's tourism industry — ski resorts, Lake George summer tourism — means many residents have seasonal income patterns. FHA and USDA loans both have provisions for seasonal workers, provided you can show a two-year history in the same type of work.

**If you use an ITIN instead of a Social Security number:** You can still qualify for a mortgage. Some local credit unions and CDFI lenders in the region have programs specifically designed for ITIN borrowers. Your residency status does not disqualify you from borrowing.

**Income limits for assisted programs:** New York State programs such as SONYMA (State of New York Mortgage Agency) set income limits by county.

For Warren County, SONYMA's limits generally fall between $85,000 and $120,000 depending on household size and program.

Property purchase price limits also apply — check current figures at the SONYMA website or with a participating lender.

**Small investors:** If you are purchasing a 2–4 unit property, you may still qualify for FHA or conventional financing — provided you intend to live in one of the units. Pure investment properties typically require 20–25% down and a higher credit score.

Gathering your documents early makes the process much smoother. Here is what most lenders in Warren County will ask for:

**For all borrowers:**

- Government-issued photo ID (passport, driver's license, or consular ID card)

- Social Security number OR ITIN (Individual Taxpayer Identification Number)

- Two most recent pay stubs (if employed)

- Two years of W-2s or 1099s

- Two years of federal tax returns (all pages)

- Two to three months of bank statements (all accounts, all pages)

- Proof of any other income (rental income, child support, Social Security, etc.)

**For self-employed borrowers or solo contractors:**

- Two years of personal AND business tax returns

- Year-to-date profit-and-loss statement (a CPA can prepare this)

- Business license or registration documents

- 12–24 months of business bank statements

**For the property:**

- Purchase agreement (once you have one)

- Information on any current mortgages if refinancing

- HOA documents if the property is in a homeowners association

**If using an ITIN:**

- ITIN letter from the IRS

- Additional identification (passport, foreign national ID)

- Longer credit or rental history may be requested

Tip: Keep your documents organized in one folder — physical or digital. Some lenders in Warren County work with housing counselors who can review your documents with you before you formally apply, at no cost.