Frequently Asked Questions

It depends on what term you are looking for. We offer several different products. We offer fixed rate mortgages of terms from 30 years down to 7 years or less. We also offer fixed-Adjustable rate mortgages with the payment amortized over 30 years. We offer a 10-1 ARM, 7-1 ARM, and a 5-1 ARM. For example, if you apply for a 10-1 ARM the mortgage is fixed for the first ten years. On the eleventh year the mortgage automatically converts to a 1 year adjustable and can adjust up or down 2% maximum per year for the remainder of the term. The maximum rate the mortgage can ever go up is 6.500% above the initial rate you applied for. Chances are we have a program that will fit your needs. View our full listing of Mortgages Rates in Syracuse, NY here.

We do conventional mortgages only. We require at least 10% down. If you put between 10-19% down we add 1/4% to the rate instead. If you put 20% or more down, we consider the going rate we are offering.

Yes, we do. 

To qualify you must meet one of the following:

  1. Your gross annual income cannot exceed a certain amount.
  2. And/or the property you are looking to purchase has to be located in a low to moderate income area.

If you don't fall into one of these categories and can put 10% down - being a first time home buyer we will pay 2 of your closing costs for you. The two items we pay are 1) the NYS Mortgage Tax and 2) the bank attorney fee.

No, you can prepay your mortgage anytime.

You pay an application fee up front, out of pocket when you officially apply. The application fee consists of the appraisal, credit report, processing, and the flood determination fee, instant delivery fee, recording fees, NYS mortgage tax, and if you are escrowing taxes we would require an escrow deposit to be collected at closing as well. There would be an additional fee if you lock in the loan for more than 60 days, and if you are applying for a construction loan. Typically, you will pay costs of between 2% and 5% of the loan amount whether you are purchasing or refinancing your current home.

Points are optional at Geddes Federal Savings and Loan Association. You can pay up to three 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%.

Yes. Geddes Federal services all of its mortgage loans. We will service and hold your loan for the duration. What this means to you is if you ever have a question or issue you can call and speak to someone directly or stop in to see us. No 1-800 #s! We are a local lender. All your mortgage documents are held in-house, so there is no chance of information being misplaced.

  1. Being a local lender, we offer special features such as a prompt commitment letter-usually 7-10 business days.
  2. Customer Convenience-Local Orientation --  You are not a number to us.
  3. Flexibility-Non-Secondary market underwriting
  4. No title insurance for properties located within Onondaga County that are below $100,000.00.
  5. Low Documentation
  6. Known for superior customer service
  7. We don't sell your mortgage on the secondary market.

Yes. We offer Traditional, Roth, Educational, SEP and Variable. Read more about our Retirement Savings options here.

Yes, up to $250,000 per person through the FDIC.

Since 1933, no depositor has ever lost a penny of FDIC-insured funds.

Today, the FDIC insures up to $250,000 per depositor per FDIC-insured bank.

An FDIC-insured account is the safest place for consumers to keep their money.

Learn more about deposit insurance at

Yes, we do offer passbooks on regular Savings Accounts and Certificate of Deposit Accounts

Yes. We have one branch located in Limestone Commons, Seneca Turnpike in Manlius, NY.

Our Main Office is located in Westvale Plaza

Please stop into or use the convenient Drive Thru at one of our locations.

Appointments are also available at 315-468-6281.

Yes, we offer Online Banking.


  • Bill Pay
  • Balance inquiries
  • Account transfers
  • Remote Deposit Capture
  • Account history
  • E Statements
  • E Mortgage Statements

Yes, the Westvale Plaza Drive Thru is open on Saturdays from 9 am to 12 pm.

Yes, we offer a savings account for children under the age of 18 called the "Kids Club" Account

Depending on the type of checking account, no minimum balance applies. New Wave Checking-no minimum balance, NOW Checking- $250.00 minimum balance and Super NOW Checking-$2,500 minimum balance

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.

Yes, located at the Westvale Plaza location.