Online Account Access
Frequently Asked Questions
When you choose Geddes Federal as your local mortgage lender, you get local, responsive service from people who know your community and live in your community. When you have questions, or need assistance, your neighbors at Geddes know you and know how to help. If you're exploring your financing options, visit our Mortgage Loans page to learn more about available loan programs.
- We are rated five stars by Bauer Financial and have stood the test of time, providing banking services to our customers for over 75 years.
- We don't sell your mortgage on the secondary market.
- We have several products and programs designed to save you money, including a first time homebuyer program, a program for low to moderate income borrowers, and biweekly mortgage options to name a few.
- We don’t charge private mortgage insurance (PMI)!
- Customer Convenience and Local Service - You're our neighbor, not a number.
- We are known for superior customer service. Ask your friends and neighbors!
- We offer online banking & online mortgage applications and loan prequalifications for your convenience. Or, stop in! We would love to see you.
- Our Mobile App is convenient for when you are on the go!
- We have fraud protection programs in place to help keep your money safe.
- Rest easy at night because your savings are FDIC insured. The standard insurance amount is $250,000 per depositor, for each account ownership category.
Depending on the type of loan, you may need recent pay stubs, tax returns, bank statements, identification, employment information, and details about your assets and debts. Your loan representative will let you know exactly what is required for your application.
Mortgage pre-qualification begins with completing an application and providing financial information such as income, assets, employment history, and credit information. A pre-qualification helps you understand your home-buying budget and demonstrates to sellers that you're a qualified buyer. Geddes Federal's mortgage professionals can guide you through every step of the process.
Geddes Federal will never sell your loan, and holds all of its mortgage loans.
Many borrowers appreciate working with a lender that provides ongoing local support after closing.
Local servicing can make it easier to ask questions, make payments, and receive assistance from a team that understands your needs and community.
If you ever have a question or issue, you can call and speak to someone directly or stop in to see us. We are a local lender. All your mortgage documents are held in-house, so there is no chance of information being misplaced. Call us at (315) 468-6281.
Approval timelines vary depending on the loan type and the information required. Providing complete documentation and responding promptly to requests can help keep the process moving efficiently.
Before applying, it's helpful to review your credit, determine your budget, estimate your monthly payment, and gather financial documents. Speaking with a mortgage professional early in the process can help you understand available loan options and prepare for a successful home purchase.
The required down payment depends on the loan program you choose. Some mortgage options require less than 20%, making homeownership more accessible for qualified buyers. A mortgage specialist can help determine which loan program best fits your financial goals.
A home equity loan allows you to borrow against the equity in your home, receiving a lump sum with a fixed interest rate and monthly payments. Geddes Federal's home equity loans allow you to borrow up to 90% of your home's value minus your existing mortgage balance. The loan is secured by your home, often resulting in better interest rates than unsecured loans.
How much equity do I need to qualify for a home equity loan?
Qualification depends on several factors, including your available home equity, income, credit history, and existing debt. A lending specialist can review your financial situation and explain the options available to you.
Can I use a home equity loan for home renovations?
Yes. Home equity loans are ideal for major expenses like home renovations, debt consolidation, or education costs. Many homeowners use home equity loans to finance kitchen remodels, bathroom renovations, roofing projects, additions, or other home improvements. Using your home's equity can provide a cost-effective financing solution while investing in your property's value.
A home equity loan provides a lump sum with fixed payments, while a Home Equity Line of Credit (HELOC) works like a credit card, allowing you to borrow as needed up to your approved limit.
Geddes Federal offers fixed rate HELOCs and variable rate HELOCs, while our home equity loans provide payment predictability with fixed rates.
Many homeowners choose a home equity loan to consolidate higher-interest debt into one predictable monthly payment. Before making a decision, it's important to speak with a lending professional to determine whether this solution aligns with your financial goals.
Most home equity loans offer fixed interest rates, allowing borrowers to enjoy predictable monthly payments throughout the repayment period. Fixed-rate home equity financing can make budgeting easier compared to variable-rate borrowing options.
Yes. The standard insurance amount is $250,000 per depositor for each account ownership category. Since 1933, no depositor has ever lost a penny of FDIC-insured funds. Learn more about deposit insurance at https://edie.fdic.gov/index.html.
Geddes Federal Savings and Loan NEVER charges private mortgage insurance to its borrowers.
Yes, we do. If you have not owned a home in the last three years, you may qualify for up to $1,600 off your mortgage tax and attorney fee at closing, as well as other benefits. To learn more, please contact us at (315) 468-6281.
Yes! Our GeddeStart program is designed with low to moderate income borrowers in mind. Onondaga County residents who qualify may only require a 3% down payment for mortgages up to $200,000. Learn more about the GeddeStart program here.
Unlike some lenders, points are optional at Geddes Federal Savings and Loan Association. You can pay up two points. For example if you pay one point (equal to 1% of the loan amount) your rate is reduced by 1/4th%. If you choose to pay two points (equal to 2% of the loan) your rate is reduced by another 1/4th%.
- Have your payment automatically withdrawn from an account at Geddes Federal or another financial institution.
- Through our website – geddesfederal.com. Once you sign up for online banking, get your mortgage and account you are debiting set up, and you are good to go.
- Mail your payment to us.
- In person at a Geddes Federal branch. It's always great to see our customers.
- Use your online banking at another financial institution.
Our Main Office is located in Westvale Plaza, 2208 West Genesee Street, Syracuse. We also have a branch located in Limestone Commons at 240 West Seneca Street, Manlius NY. Please stop in or use our drive-thru at either of our locations.
Appointments are also available at (315) 468-6281.
Yes, we offer Online Banking.
Featuring:
- Bill Pay
- Balance inquiries
- Account transfers
- Remote Check Deposit
- Account history
- E Statements
- E Mortgage Statements
Also check out our easy to use Mobile App!
A certificate of deposit (CD) is a time deposit that offers higher interest rates in exchange for leaving your money untouched for a specified period. Geddes Federal's certificate of deposits include terms from 4 months up to 72 months with compounded daily interest posted quarterly.
CDs are ideal for funds you won't need immediate access to and want to earn higher interest than traditional savings accounts.
Yes! You may qualify for more than $250,000 in coverage at Geddes Federal if you own deposit accounts in different ownership categories. The most common account ownership categories for individual and family deposits are single accounts, joint accounts, revocable trusts accounts, and certain retirement accounts. Still confused? Why not stop in to one of our branches or give us a call and one of our friendly customer service representatives can help. (315) 468-6281
A Roth IRA uses after-tax dollars, grows tax-free, and offers tax-free withdrawals in retirement. Traditional IRAs use pre-tax dollars, provide current tax deductions, but withdrawals are taxed as income. Roth IRAs have no required minimum distributions, while traditional IRAs require distributions starting at age 73.
Construction loans fund your home building project from ground breaking to move-in day. At Geddes Federal, our construction loans offer one convenient closing for both construction and permanent financing, eliminating the need for separate loans. You can include land in the construction contract or use land you already own free and clear.
During construction, funds are released through draws based on percentage completion, and construction must be performed by an experienced contractor (though we may work with owner-builders). We offer both fixed and adjustable rate options with rates locked at application time, including a special 250-day rate lock for builder-financed construction. Our loans require no private mortgage insurance (PMI) and offer terms from 7-30 years depending on loan type.
Geddes Federal proudly serves customers within a 50 mile radius of our Syracuse, NY main office branch. Whether you’re looking for local checking and savings accounts, or loans, Geddes Federal is here to help our neighbors turn plans in to reality throughout Syracuse and surrounding Central New York communities, including Liverpool, Camillus, Baldwinsville, Cicero, Clay, Solvay, and other nearby areas.
Choosing the right loan depends on your financial goals, budget, and borrowing needs. Whether you're purchasing a home, refinancing, borrowing against your home's equity, or consolidating debt, a loan specialist can explain your options and help you make an informed decision.
Yes, the Westvale Plaza Drive Thru is open on Saturdays from 9 am to 12 pm. While the lobby is closed, customer service representatives and mortgage originators are available by appointment only.
Yes, located at both the Westvale Plaza location in Syracuse and the Limestone Commons location in Manlius.
Yes, we offer a savings account for children under the age of 18 called the "Kids Club" Account.
Yes. In addition to our two ATMs located at the Westvale Plaza office and one ATM at our Manlius Branch, we are members of the All Point Network. This provides our cardholders over 55,000 surcharge-free locations throughout the United States, Canada, Mexico, Puerto Rico, United Kingdom, and Australia.
An experienced local lending team understands the Central New York housing market and can provide personalized recommendations throughout the borrowing process. Working with professionals who are familiar with the local community helps ensure you receive guidance tailored to your unique financial needs.
We have several products and programs designed to save you money.