TODAY’S MORTGAGE RATES

15 Year Fixed Rate

4.125%

Interest Rate

4.244%

APR*
30 Year Fixed Rate

4.625%

Interest Rate

4.875%

APR*
5 Year Adjustable Rate

3.625%

Interest Rate

5.073%

APR*
10 Year Adjustable Rate

4.125%

Interest Rate

4.808%

APR*
View More Rates

Rates Current as of 1/23/2019

CHOOSE THE RIGHT MORTGAGE

Fixed Rate Mortgage

A Fixed Rate (Conventional) Mortgage has monthly principal and interest payments that remain the same throughout the life of the loan (unless property taxes, insurance premiums or homeowners/condo association fees change). It is recommended for those that do not want their loan to fluctuate with market rates.

Adjustable Rate Mortgage (ARM)

An ARM has an interest rate that can change at designated intervals throughout the life of the loan. These rate changes are based on a financial index, and when these changes occur your monthly payment may increase or decrease. Most ARMs will have a lower interest rate than a Fixed Rate Mortgage. An ARM is recommended for those who want to take advantage of lower initial payments, those that expect to move before any rate increases, or for those who expect their income to rise.

State of New York Mortgage Agency
(SONYMA)

SONYMA provides low interest mortgages to low- and moderate-income home buyers throughout New York State. This Mortgage offers several benefits including low interest rates, low down payment requirements, flexible underwriting guidelines, and down payment assistance. This Mortgage is recommended for first time home buyers.

Not Sure Which One? Request a Call from a Mortgage Expert

YOUR NEXT HOME ADVENTURE STARTS IN 5 SIMPLE STEPS

1

Get Prepared

There are a few ways you can get prepared. We’ll guide you through some considerations before you apply.

2

Calculate

Use our calculator to determine your monthly payment.

3

Pre-Qualify

Getting pre-qualified will tell you how much you can borrow so you can shop for your new house with confidence.

4

Find a Home

An MHV Mortgage Expert can help recommend a trusted Real Estate Agent to help you find and negotiate the price for your new dream home.

5

Final Walkthrough & Closing

The closing is the last step in buying and financing a home. At your closing appointment, the Mortgage is finalized and the title of the house is transferred to you. You officially become a home owner!

Step 1

PREPARE FOR YOUR ADVENTURE

Save for a Down Payment

A down payment is the difference between the purchase price of the property and the mortgage loan amount. It is deducted from the total amount of your Mortgage and represents the equity or your ownership in the house. Down payment requirements vary depending on the type of Mortgage. For many shoppers, saving up a 20% down payment is not easy, but it can have many financial benefits and save you thousands of dollars in the long run. MHV offers financing options up to 97%.

Get Prepared: Set up an automated savings plan to make it easier to build toward your down payment goal. Automate savings by taking a portion of your paycheck and having it directly deposited into your savings account.

Credit Score

Your credit score is a mathematical assessment of the likelihood you will repay what you borrow. It is based on the information in your credit report, which tracks how well you pay and manage bills. Creditors typically check your score when deciding whether or not to approve your loan application. Scores range from 300 to 850, with a higher score being indicative of less risk.

Get Prepared: We recommend you check your credit report before applying for your Mortgage by visiting www.annualcreditreport.com.

Bonus: Your membership includes complimentary access to Financial Counselors that can review your credit report as well as answer questions about credit scoring, building a strong credit history and correcting any inaccuracies that appear. To speak with a counselor, call toll-free 888.456.2227.

Homeownership Guide

Finding, Buying & Financing Your New Home

Download our free guide, “Your Journey to Homeownership”, to provide you with the knowledge you need to start on the path to homeownership. Whether you’re buying your first or second home, we’ll guide you through the process so you can feel confident and empowered to get started.

Download Guide

Step 2

CALCULATE YOUR MORTGAGE PAYMENT

The PMI rate will vary based on credit score, down payment and other criteria.

STEP 3

PRE-QUALIFY FOR YOUR MORTGAGE

Getting a pre-qualification proves that you’ve already lined up financing and have the ability to go through with the sale, which makes you a more attractive buyer to sellers.

STEP 4

MEET THE MHV MORTGAGE TEAM

 
With over 100 years of combined experience, our Mortgage experts will help guide you through the entire Mortgage process and recommend a trusted Realtor.
Photo of

Don Spiro

845.332.5856

Visit my Website

Branches Covered:
Kingston, Saugerties & Woodstock
NMLS #515614

Photo of

Bill Walsh

914.474.5194

Visit my Website

Branches Covered:
Red Hook, Rhinebeck,
LaGrange & Poughkeepsie
NMLS #454307

Photo of

Denise Quinn

845.522.3844

Visit my Website

Branches Covered:
Middletown & Fishkill
NMLS #454310

Photo of

Tim Zwart

845.594.9056

Visit my Website

Branches Covered:
Newburgh & Port Ewen
NMLS #454311

Photo of

SEAN DYKHOUSE

845.208.1377

Visit my Website

Branches Covered:
Highland & Hurley Ave.
NMLS #184229

STEP 5

FINAL WALKTHROUGH & CLOSING

 

Before closing, it is recommended that you do a final walkthrough of the home to ensure its condition has not changed and that any features that were supposed to be included in the sale are still in place. On the closing day, the Mortgage is finalized and the title of the house is transferred to you.

Here are some tips:

Ask questions until you feel comfortable with everything.

Determine who will conduct
your closing, the location,
time and date.

Ask the person who will conduct
your closing what to expect
at closing.

Ensure you’ve received your
Closing Disclosure three business
days before closing.

Arrange your payment for the
amount due at closing via wire
transfer or bank check.

Confirm how your property taxes
and homeowner’s insurance will
be paid each year.


Take all the time you need. You have a right to read and understand your closing documents, no matter how long it takes.

SEE WHAT THE MID-HUDSON VALLEY HAS TO SAY ABOUT US

They are very helpful and they offer very professional service. Every time I have a question about anything, it gets handled quickly and efficiently.

Sheila F.

MHV has easy access to local branches, extended hours teller machines, competitive rates on loans and mortgages, and easy loan application process. Good quality of service!

Matthew B.

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Or Call us at 845.336.4444

Frequently Asked Questions

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Rates, terms and conditions subject to change without notice. All loans subject to credit approval.

*APR=Annual Percentage Rate. All loans subject to approval. Rates, terms, and conditions are subject to change.