MORTGAGE

A Residential Mortgage is a loan secured by real property through the use of a mortgage.

  • Property must be a 1 to 4 family dwelling
  • Minimum Loan Amount $25,000
  • Fixed Rate and Adjustable Rate Programs Available
  • Prequalification for purchase transactions available

COMMUNITY HOME MORTGAGE PROGRAM

Affordable financing option for home buyers meeting program criteria.

  • .25% rate reduction applied to any current 1st mortgage product
  • Owner Occupied, home purchase transaction only
  • Loan to value of up to 85%, NO PRIVATE MORTGAGE INSURANCE REQUIRED
  • Income limits apply1

FHLBNY HOME BUYER DREAM PROGRAM

  • $10,000 grant program offered through community-based, member lenders
  • Income limits apply1

Please visit https://www.fhlbny.com/community/housing-programs/hdp/ for more information.


RESIDENTIAL MORTGAGE RATES: Rates Effective as of  10/11/2023 

Mortgage Rates

Term APR3,5 Interest Rate2 Monthly Payments Per $1,0004

4 Monthly payments per $1,000 shown below includes principle and interest and does not include taxes and insurance, actual payment amount may be greater. Mortgage interest rates shown are for one to four-family owner-occupied primary residences with a loan to value of 80.00% or less.

Points
10 Year Fixed 7.023% 7.000% $11.61 0
15 Year Fixed 7.141% 7.125% $9.06 0
20 Year Fixed 7.388% 7.375% $7.98 0
3/1 ARM 6.134% 6.125% $6.08 0
5/1 ARM 6.510% 6.500% $6.32 0
7/1 ARM 6.760% 6.750% $6.49 0

Explore monthly mortgage payments with our Loan Calculator.

VIEW MORTGAGE FEE SCHEDULE HERE

1 Income that is less than 80% of the area median income, published annually

2 Rates are subject to change anytime.

3 APR is the annual percentage rate. It represents the cost of credit over the term of the loan expressed as an annual rate. The APR shown here is based on a loan amount of $120,000, stated interest rates and life of loan fees only. It does not take into account other loan specific finance charges you may be required to pay such as prepaid interest.

5 The 3/1 ARM is fixed for the first three years and adjusts annually thereafter, the 5/1 ARM is fixed for the first five years and adjusts annually thereafter, and the 7/1 ARM is fixed for the first seven years and adjusts annually thereafter. The rate on an ARM products will not increase or decrease by more than 2.00% annually and the rate will not increase or decrease more than 6.00% during the term of the loan.

All loans are subject to credit approval.

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