Mortgage Lenders and Brokers in Saratoga Springs, New York

Who Lends in Saratoga Springs, NY

Independent mortgage companies closed 37 percent of home loans in Saratoga Springs, New York in 2025, banks 45.8 percent and credit unions 17.2 percent. Homestead Funding Corp. was the largest mortgage company, Arrow Bank NA the largest bank and SEFCU Services, LLC the largest credit union. Among lenders headquartered in New York, Arrow Bank NA led with 39 loans.

How to Read This List

A high approval share with a small median loan usually points to a lender comfortable with first time and FHA borrowers. A large median loan with conventional and jumbo programs points to a move up and jumbo specialist. The health grade says whether a bank or credit union is financially sound; it says nothing about service, which is what the reviews below are for.

Attorneys customarily handle closings in New York. State mortgage recording tax of 0.5 percent plus a 0.25 percent special additional tax (paid by the lender on one to six family homes) and 0.25 percent more in the MCTD counties; in New York City the combined rate is 2.05 percent under $500,000 and 2.175 percent at or above, of which the borrower effectively pays 1.8 or 1.925 percent. State transfer tax is $2 per $500 plus a 1 percent mansion tax on homes of $1 million or more; NYC adds its own 1 to 1.425 percent RPTT. A CEMA (consolidation, extension and modification agreement) assigns the old mortgage to the new lender so recording tax is paid only on new money, and is standard practice for refinances and many purchases.