FIXED RATE MORTGAGES
A mortgage in which the monthly principal and interest payments remain the same throughout the life of the loan.
ADJUSTABLE RATE MORTGAGES
A mortgage having an interest rate that can change at designated intervals, based on a financial index.
Qualified members can apply through the credit union for mortgages offered by SONYMA (State of New York Mortgage Agency) to purchase owner-occupied one to four-family properties in New York State. These mortgages offer several benefits including below market interest rates, up to 97% financing, and flexible terms. Learn more about SONYMA here.
BUILDING LOT LOANS
We offer building lot loans in amounts up to $150,000. Up to 80% of the purchase price may be financed.
A short term loan that is used to finance the construction of a new home. During the term of the loan the lender makes payments to the builder as the work progresses and the borrower makes interest payments on only the funds that have been disbursed to the builder.
Loans that are insured by the Federal Housing Administration (FHA) used to purchase or refinace 1-4 unit properties. Some benefits include low down payment options and flexibility if you have less than perfect credit.