Eligible Properties
Owner-occupied 1-4 unit residence, condominiums, modular homes, Planned Unit Developments (PUDs), or second homes.
Ineligible Properties
Manufactured homes; 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.
Mortgage Insurance
Mortgage insurance is required if the Loan-to-Value Ratio (LTV) is over 80%.
Payment Due Date
Payment due date will be determined when the loan is disbursed.
Payment Options
No prepayment penalties
Rate Lock Details
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. Conventional mortgage rates are quoted based on a 45-65 day rate lock.
Discount Points
Points may be paid to reduce the interest rate. Contact a mortgage originator today to learn more.
Premium Points
Premium points are used to lower out-of-pocket closing cost expenses. They are a credit toward closing costs in exchange for a slightly higher rate on a purchase or refinance.