October 16, 2025
Shopping for a home in Catskill can feel exciting and overwhelming at the same time. You want a monthly payment that fits, a loan that matches your timeline, and a plan that works with local taxes and insurance. In this guide, you’ll learn the most common mortgage options for Catskill buyers, how local factors like flood zones and mortgage taxes affect your budget, and practical next steps to get pre-approved with confidence. Let’s dive in.
Catskill sits in a Hudson Valley market that stayed competitive through 2024. Reports show Greene County’s median sale price around the mid-$300Ks, with Catskill hovering near $360K, alongside limited inventory. You’ll see most purchases fall under conforming loan limits, with some fixer-uppers and rural properties opening doors to special programs. Review recent Hudson Valley pricing trends in the regional housing summary to set expectations for your price range. This annual report highlights the region’s 2024 trajectory.
Conventional loans work well if you have solid credit and at least a small down payment. Many buyers qualify with 3 to 5 percent down, and private mortgage insurance is removable once you meet the lender’s equity rules. For most Catskill homes, the current conforming limit should cover your purchase price. If you plan updates, ask about conventional renovation options and how they price versus FHA rehab loans.
FHA loans are popular with first-time and flexible-credit buyers. The minimum down payment is 3.5 percent with qualifying credit, and mortgage insurance applies. FHA loans are for primary residences and have county loan limits; Greene County’s 1-unit FHA limit for 2025 is at the floor level, which fits many Catskill homes. Review basic FHA requirements before you apply at FHA’s overview.
If you are a veteran, active-duty service member, or eligible surviving spouse, explore VA financing. VA loans often require no down payment, do not carry monthly PMI, and offer competitive terms for primary residences. You will need a Certificate of Eligibility and to review the funding fee rules. Learn more through VA home loan resources.
Parts of Greene County qualify for USDA Rural Development loans, which can offer 0 percent down for eligible buyers. You must meet income limits and the property must be in an eligible location. Many addresses around Catskill may qualify, but each home is address-specific. Check eligibility using the USDA property lookup tool.
New York’s State of New York Mortgage Agency (SONYMA) offers first-time buyers fixed-rate programs with optional down payment help. Options like Achieving the Dream and Low Interest Rate can pair with Down Payment Assistance Loans and other features. Income and purchase price limits apply, and some programs require homebuyer education. Start with the SONYMA programs page to see what fits you.
Buying a Catskill fixer-upper? FHA 203(k) combines purchase and renovation into one loan, and it comes in Limited and Standard versions depending on the scope of work. You’ll need contractor bids and a post-renovation appraisal, and some projects require a 203(k) consultant. Read how 203(k) works at HUD’s 203(k) page.
Catskill includes river and creek corridors where some addresses fall in FEMA Special Flood Hazard Areas. If a home is in a mapped flood zone, lenders typically require flood insurance, which affects your monthly escrow and debt-to-income ratios. Ask your lender or attorney for a flood determination early. Local watershed resources can help you understand area flood risks, including the Catskill flood analysis portal.
Your monthly payment will include property taxes. New York’s STAR program can reduce the school tax portion for eligible homeowners in the Town of Catskill, which can improve your monthly affordability. Review the current Basic and Enhanced STAR exemption amounts on the NYS Department of Taxation site.
New York charges a mortgage recording tax that combines a state portion with possible county add-ons. Greene County has authorization for an additional mortgage recording tax, so the exact rate can vary by ordinance. This fee is a percentage of your loan amount and can be a meaningful closing cost. For background on how the tax works, see this overview of New York’s mortgage recording tax, then ask your lender or title company for a Catskill-specific quote.
Ready to talk through your options, neighborhoods, and the best path to pre-approval? Reach out to the local team that closes homes of every style and price point across the Hudson Valley. Connect with Angela Lanuto for a clear plan and a confident start.
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