Mortgages
Looking to put down your roots or make a move in Ithaca, Syracuse, Auburn or Cortland?
We understand. After all, we’ve been your neighbor for a long time. The home buying and mortgage process can sometimes be a bit challenging, but we’re here to make it a bit easier. Whether you’re a first-time homebuyer just getting started, or you know the real estate market like the back of your hand, we’ll help get you through the process.
APPLY / PREQUALIFY ONLINE FIND LOAN OFFICER
Looking for Options? Let’s get Started
Hoping to build your dream home? Sometimes the right house isn’t out there and you just need to build your vision. We can help! One loan - with one closing and fewer fees - does it all from start to finish. Funds are allocated during the construction period. The loan then converts to a permanent mortgage when construction is completed.
Need something different? Let’s explore!
Community One
Worried about not having 20% to put toward a down payment? We understand – the world’s changing.
- reduced fees,
- low down payment options,
- maximum financing for eligible borrowers,
- doesn’t require private mortgage insurance.
FHA
Federal Housing Administration (FHA) loans offer flexibility for a borrower who may not realize they can qualify for a mortgage.
- enjoy a variety of payment terms,
- do not pay pre-payment penalties,
- have lower credit scores,
- and only put down a 3.5% down payment.
Home One
If you’re just starting out on your own and are concerned about saving for a down payment, Home One from Freddie Mac can help.
- We understand that saving up huge sums of money in this day and age can be difficult, but that doesn’t mean you can’t be a responsible borrower.
- Home One can make home ownership possible with only a 3% down payment for eligible for single family homes, including townhouses and condos.
- This program has no geographic or income restrictions and is subject to other qualifying guidelines.
Home Possible®
Whether we like it or not, some parts of Ithaca and beyond are on the pricier side. However, it is where we call home!
- Through our partnership with Freddie Mac, Home Possible® mortgages offer low down payments for low- to moderate-income homebuyers.
- The program offers 3%-5% down payment options,
- flexible down payment sources,
- term flexibility,
- refinance options,
- income flexibility and more.
SONYMA (State of New York Mortgage Agency)*
As a participating SONYMA Lender, we offer the Low Interest Rate and Achieving the Dream mortgage programs.
- Both programs offer competitive rates with maximum financing for 1-4 family properties and manufactured homes.
- In addition, SONYMA will provide qualified borrowers with a down payment assistance loan of the greater of $3,000 or 3% of the Purchase Price up to a maximum of $15,000.
- SONYMA’s down payment assistance loan requires no down payment, is interest free and is forgiven after 10 years.
USDA
We partner with the United States Department of Agriculture (USDA) to offer USDA loans. Basically, a USDA loan is special type of a zero down payment mortgage that eligible homebuyers in rural areas can get through a partnership between the United States government and their local bank.
- These loans help low- or moderate-income people buy, repair a home in a rural area.
- For eligible buyers, they feature great benefits such as 100% financing with no down payment and competitive rates.
VA
Did you or are you currently serving our country in the Armed Forces? You may be eligible for a VA loan to buy your dream home. Veterans, currently active members in any military branch, and surviving military spouses are welcome to apply for a VA loan.
- Benefits include no down payments or pre-payment penalties.
- And guess what? No private mortgage insurance is required!
| Term | Rate | point as a % | annual percentage rate Rate (APR) as a % - (e) | monthly Payment in Dollars - (e) |
|---|---|---|---|---|
| Conforming Fixed Rates | ||||
| 30 Year | 3.000% | 0 | 3.073% | $421.60 |
| 15 Year | 2.375% | 0 | 2.503% | $660.92 |
| Jumbo Fixed Rates | ||||
| 30 Year | 3.125% | 0 | 3.145% | $4,283.75 |
| 15 Year | 2.500% | 0 | 2.532% | $6,667.89 |
| Monthly payment on conforming fixed assumes a loan amount of $100,000. Jumbo fixed assumes a loan amount of $1,000,000. Rates are subject to change without notice, and subject to credit approval. APR assumes a 20% down payment. Rates quoted for owner occupied properties only. Additional rates and charges may apply for other property types. Homeowners Insurance is required. Flood Insurance may be required. (e) is estimate. Consult a tax advisor regarding interest deductibility. Additional products are available. Contact the mortgage department for details. | ||||
Requests for information and Notices of Error, including Qualified Written Requests.
If you wish to request information or assert an error relating to the servicing of your mortgage loan, including any Qualified Written Requests, you must use the address below and include your name, your mortgage loan account number, property address and a statement of either the information you are requesting or the error you believe has occurred:
Loan Servicing
P.O. Box 6569
Ithaca, NY 14851
