Why We Won't Sell Our Mortgage Loans
That is one of the advantages of using a mutual community bank like Geddes Federal Savings and Loan Association. We're owned by our depositors so we make decisions that are local and in the best interest of our customers. We don't sell our home loans, and here is what that means to you:
Advantages of Getting a Geddes Mortgage Loan
- You have the peace-of-mind that comes with knowing your home mortgage lender, and knowing that we will service your home lending needs for the life of your loan.
- Your payments can be made easily, either by local mail, bill pay or in person at one of our locations.
- Any problems may be resolved by a local phone call or a simple visit to one of our offices. In fact, the original personnel that assisted with your loan application may be the same person that answers any questions or provides assistance later on.
- If you are someone who prefers the premium service and peace-of-mind that comes from dealing with a local community financial institution, then Geddes Federal Savings and Loan Association is the place for you.
Home Loans From Our First Time Home Buyer Programs
If you're a first time home buyer, Geddes Federal Savings & Loan Association offers home loans to meet your unique needs. Our professional, knowledgeable and friendly staff are here to help you through this important milestone in your life.
Home Loans From the Geddes Start Program
The Geddes Start program is a first time home buyer program that helps new potential homeowners get home loans with favorable terms. The Geddes Start program makes home loans possible by reducing your up front costs associated with home ownership. Additionally, the Geddes Start program offers home loans with terms up to 30 years.
Is the Geddes Start program right for you?
Save With 15 Year Mortgage Rates
Geddes Federal Savings & Loan Association offers a 15 year mortgage featuring monthly payments with an APR of 3.582% and an interest rate of 3.500%. Our 15 year mortgage products also include a 3.626% APR with a 3.375% rate for a 15 year mortgage loan with bi-weekly payments.
Benefits of 15 Year Mortgage Loans
15 year mortgage loans can come with long term savings benefits. Because 15 year mortgage loans are half the term of a 30 year mortgage loan, you can save money in the long term by paying back your mortgage loan faster.
How Much Does A Mortgage Loan Cost?
How To Apply For Mortgage Loans
Download our Mortgage Application
Includes lists of documents needed to complete application process:
1. Signed purchase contract
2. Legal description of subject property (deed or existing survey)
3. Last two pay-stubs
4. If overtime or bonuses, provide last two years of W-2s
5. If self-employed, provide last two years of personal tax returns
6. If partnership or corporation, provide last two years of business returns
7. All current bank statements: checking, savings, investments, 401k, Ira’s, etc.
*Mortgage application fee - Please contact us for details.
*Add $50.00 for property located outside of Onondaga County.
Application fee includes: Appraisal fee, Flood certification fee, credit report(s) and loan processing.
*Additional fees will apply for closing costs.
If a refinance, provide all of the above except #1 and #2 need both the deed & survey.
Include last two paid property tax receipts and copy of current home owners policy.
**Please include the above with completed application and deliver in person or mail to Geddes Federal Savings, 2208 West Genesee St., Syracuse, New York 13219**
What exactly is a discount point?
One discount point is a fee equal to 1 percent of the loan amount. Example: for a $150,000 mortgage 1 point = $1,500.00. A lender can charge 1, 2 or more points.
Adjustable Rate Mortgage Loans
Adjustable rate mortgages (ARMs) are a good alternative mortgage for the customer who initially needs a smaller monthly payment or for the customer who hasn't moved up to their dream home. ARMs usually have rates lower than the fixed-rate mortgage.
- 10/1 ARM, 7/1 ARM, 5-1 ARM-
- Rate is fixed up to the 10 years, 7 years or 5 years.
- After that the rate is based on a 1 year ARM
- Fast turnaround on application
- No points, no application fees, no pre-payment penalty fees
- Owner-occupied property only
- Protective rate caps
- Competitive Rates
Mortgage Loan Originators
Christy Krzywda - Manlius Branch
Valerie Cushman - Manlius Branch
If you need a mortgage loan, email one of the above mortgage loan originators, or contact us.