Eligible Properties
Owner-occupied 1-4 unit residence, modular homes, and planned unit developments (PUDs).
Ineligible Properties
Second homes (including vacation homes); manufactured homes; condominiums; cooperative housing (co-ops); property used for agriculture, farming, or commercial enterprise; vacant land; investment property; and multi-family (5+ units).
Lending Area
Property must be located in Genesee, Livingston, Monroe, Ontario, Orleans, Seneca, Steuben, Wayne, Wyoming, and Yates Counties in the state of New York.
Loan Limits
Maximum loan amounts are listed below:
- Single Family: $472,030
- Two Family: $604,400
- Three Family: $730,525
- Four Family: $907,900
Mortgage Insurance
Typically requires upfront and monthly mortgage insurance.
Payment Due Date
Payment due date will be determined when the loan is disbursed.
Payment Options
No Prepayment Penalties
When you get a mortgage from ESL, you can pay it off at any time without worrying about any prepayment penalties.
Interest Rate APR (Annual Percentage Rate)
Rates subject to credit evaluation. Actual rates may vary. All rates are quoted based on a 60-day rate lock and are for properties located in upstate New York. Rates for longer rate locks may be higher.
Rate-Lock Options
The interest rate may float from time of application to a few business days prior to closing. Anytime during this float time period, the interest rate may be locked. FHA mortgage rates are quoted based on a 60-day rate lock. Extended rate lock options up to 180 days are available upon request.