First-Time Homebuyer Loan | Glens Falls National Bank

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First-Time Homebuyer Loan

We offer a loan designed specifically for first-time homebuyers. Our program features low down-payment requirements and tons of cost-savings for you!

What Are the Advantages?

  • Only 3% Down: Our program features low down-payment requirements.
  • Rate Discount: Take advantage of our special low rates.
  • Waived Fees: We waive fees and origination charges.
  • No PMI or Government Guarantee Fees: We'll cover the private mortgage insurance (PMI).
  • Up to $19,500 for down payment or closing costs: The Homebuyer Dream Program™ is available for eligible homebuyers.

Who Qualifies?

To meet our qualifications for the First-Time Homebuyer Loan, you must:

  • Provide a 3% minimum down payment (includes affordable housing grants)
  • Live in the property as your primary residence (can be one- or two-family home)
  • Must buy a home in our service area
  • Meet a minimum credit score
  • Meet the income limit (80% or less of the area median income) or buy a home in a low- or moderate-income tract

Let’s Get Started

We’ll look at all of your options together and get the process started. Email or call one of of our mortgage professionals to start the conversation and get a personalized quote.

Roadmap to Closing

If you're considering heading down the path to homeownership for the first time, be sure to take a look at our Roadmap to Closing.