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There are many routes you can take to reach your ideal home. You may be looking for a modest starter house – or to trade up to something with room to grow. Perhaps your dream is to buy a few acres of land and build from scratch. Or it could be that you’re happy right where you are, but want the extra income of a rental property.
Wherever you’re headed, MHV can make finding your way as easy as 1-2-3:
1. Apply for pre-qualification – Use MHV’s online prequalification application to find out how much house you can afford, and at no cost to you. (click here)
2. Find a home and agree on a purchase price
Things to consider when you go house shopping:
- school district
- size of home and property
- proximity to services
- commuting distance
- price of home in comparison to the area
- finding an attorney to review documentation
- finding an expert to inspect the home
3. Call your MHV Mortgage Originator to complete your application. You'll have an opportunity to lock in our great rates and then and we'll complete the processing of your request.
Visit our online Mortgage Center now or call 800.451.8373, ext. 3472 to schedule an appointment with a Mortgage Originator. Mortgage Originators are available to meet with you at any of MHV’s branches and can also be available for consultation at other locations should that be more convenient for your particular situation. MHV’s Mortgage Center is located at its main facility, Credit Union Center, 1099 Morton Boulevard, Kingston, NY. Commercial mortgages are also available at 800-451-8373 ext. 3175. A business services representative can help you determine some options and schedule an appointment.
Use the links below to find out about all the types of loans we offer, as well as some useful resources to help guide you in your decision-making.
- Fixed and Adjustable Rate Mortgages
- SONYMA Mortgages
- Building Lot Loans
- Construction Loans
- FHA Loans
- Home Equity Loans
- Lines of Credit
We know you have questions at the back of your mind, such as “How much can we afford?” Or “Am I eligible for any government programs?” Of course you want to be sure not to overlook any options. MHV's Mortgage Originators can answer your questions and put you into the right, affordable mortgage.
Visit our online Mortgage Center now or call 800.451.8373, ext. 3472 to schedule an appointment with a Mortgage Originator. Mortgage Originators are available to meet with you at any of MHV’s branches and can also be available for consultation at other locations should that be more convenient for your particular situation.
Click here to learn more about the Home Buying Process and free calculators that can help you figure out whether it's the right time to buy and how much of a monthly payment can you afford.
First Home Club
How would you like $7,500 toward the down payment or closing costs of your first home? Now the Government, and the First Home Club, make it possible.
MHV is participating with the Federal Home Loan Bank (FLHB) of New York to help qualified first-time home buyers with their down payment. For every $1 you save in a special account, $4 will be granted to you, up to the maximum of $7,500. All you have to save is $1,880 to qualify for the full $7,500.
Here’s what it takes:
- Meet income requirements (you can earn up to 80% of the applicable area median income)
- Live within the FHLB of New York’s lending region
- Be a first-time homebuyer (see definition below)
- Open a dedicated savings account and agree to save systematically for up to 18 months
- Qualify for mortgage financing
- Agree to execute a subordinate fHC retention agreement at closing
- Satisfy any outstanding liens, judgments or charge-offs.
Q: What does it mean to be a “First time homebuyer”? Do I qualify?
A: A first time homebuyer is defined as:
- A household that has never owned their own home
- A household that has not owned their own home for the past three years
- A single head-of-household who was recently displaced from their primary residence.
To enroll, contact the appropriate agency in your county.