Mortgages

Annual Percentage Rates valid as of May 22, 2018

Everyone dreams of owning their own home, and as your financial partner, we are here to help you realize your dream. From a mortgage to help you buy your first home, to the mortgage that will help you buy your dream home, we have a variety of products with rates and terms to meet your needs. Finding the right mortgage loan is as important as finding the right house. That is why we personally help you select the loan that will fit your needs and your lifestyle.

To fit all your needs we offer a variety of mortgage options.

Fixed Rate Mortgages
A fixed rate mortgage has a consistent interest rate and monthly payments that may never change. This is a great option for those planning to stay in their home for a long time and who want to minimize the effects of rising interest rates on their mortgages.

  • 15, 20, 25, 30 year fixed terms with fixed monthly payments
  • Only 5% down payment required
  • Low closing costs
  • Bi-weekly mortgages
  • 1-4 unit owner-occupied
  • No pre-payment penalties
  • Locally approved

Struggling to save for a home of your own? Just can't set aside enough from your current pay? Our First Home Club offers qualified members up to $7,500 in matching funds toward the purchase of your first home. Check out our First Home Club.

What's My Payment?

Fixed Annual Percentage Rate (APR) is subject to change without notice and is based on a $100,000 mortgage, zero points and 20% down payment for 30 years. One to four family, owner occupied properties. Minimum loan $75,000. Maximum loan $453,100. Maximum LTV 95% with mortgage insurance. Maximum term 30 years. Purchase or refinance. Low minimum down payment. No pre-payment penalty.

Apply Now

Bi-weekly payment options
Save thousands of dollars in interest and take years off your mortgage with a bi-weekly mortgage. Bi-weekly savings are achieved by simply paying half of your monthly mortgage payment every 14 days. By the end of a year you would have paid the equivalent of one extra monthly payment. This additional amount accelerates your loan payoff by going directly against your loan's principal.

  Bi-weekly Payments Monthly Payments
Mortgage amount $200,000 $200,000
Interest rate 4.500% 4.500%
Mortgage term 25.7 years 30 years
Payment $506.78 $1,013.57
Total interest $137,574 $164,814
Interest savings $27,240  

Adjustable Rate Mortgages (ARMS)
Adjustable rate mortgages begin with a low, fixed rate and then adjust upward or downward after the initial term. These loans are ideal if you need a larger loan amount but want to keep your payments lower initially.

  • 5/1, 3/1 and 1 year adjustable rate mortgages
  • Only 5% down payment required
  • Low closing costs
  • 1-4 unit owner-occupied
  • No pre-payment penalties
  • Locally approved

 

Annual Percentage Rate (APR) is subject to change without notice and is based on a $100,000 mortgage, zero points and 20% down payment for 30 years. One to four family, owner occupied properties. Minimum loan $75,000. Maximum loan $453,100. Maximum LTV 95% with mortgage insurance. Maximum term 30 years. Purchase or refinance. Low minimum down payment. No pre-payment penalty.

Apply Now

When you are ready to finance, simply call a Mortgage Originator at (518) 393-1326 and press 3 to start your mortgage. We're here to help make your lending experience smooth and efficient.


Easy Street Flex-Mortgage

Refinance your existing mortgage to be mortgage-free in 5 to 12 years. Pay off other high interest debt or tuition expenses. Our Easy Street Flex-Mortgage  product provides protection against rising interest rates with a low fixed rate.

  • Competitive fixed rates with choice of terms from 5 to 12 years
  • Borrow up to 80% of the value of your home
  • Pay no closing costs except for NYS mortgage tax
  • No Title Insurance
  • No Attorney Fee
  • No Appraisal Fee
  • No Recording Fee
  • No Points
  • Cash Back Option
  • Fast approval by friendly & professional staff trained to make your loan process easy

What's My Payment?

Apply Now

Fixed Annual Percentage Rate (APR). Must be primary residence and first lien only. This offer is good for refinance only. Existing First New York real estate loans are eligible with $50,000 of new money. Loan-to-value (LTV) must be 50% or less to received listed APR. Actual rate may vary and rates are subject to change without notice. Other rates and terms are available. $50,000 minimum and $453,100 maximum. New York State mortgage tax is required and paid by the borrower. Title insurance may be required. The remaining closing costs paid by First New York on behalf of the borrower will be charged back and added to the payoff amount of the loan if the mortgage is paid and closed within three years of closing. Closing costs are estimated at $200-$600.

Apply for an Easy Street Flex-Mortgage by phone at (518) 393-1326 and press 3, or stop by any First New York Branch.

Home Mortgage Disclosure Act Notice. The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at First New York FCU, Lending Department, 2 Wall Street, Albany, NY regarding the locations where HMDA data may be inspected.

First New York Federal Credit Union NMLS# 477178