Geddes Federal Savings and Loan Association specializes in offering mortgage products to suit your needs. We provide specialized programs for first-time homebuyers and borrowers with low to moderate incomes, as well as fixed and adjustable rate mortgages. Additionally, Geddes Federal does not charge Private Mortgage Insurance, which could mean potential savings for our valued borrowers.
While we do offer a standard monthly payment option, we also offer various biweekly payment alternatives. Opting for biweekly payments could reduce your interest expenses paid over the life of your loan compared to a mortgage with similar terms paid monthly. Also, paying your mortgage biweekly may allow you to pay it off sooner than you would a comparable mortgage with monthly payments. Geddes Federal helps make homebuying easy, contact us today to consult with one of our Loan Professionals to find a mortgage near Manlius NY that's right for you.
Fixed Rate Mortgages vs. Adjustable Rate Mortgages near Manlius NY
Fixed Rate Mortgages provide the benefit of stability as your interest rate will remain the same throughout the life of your loan. Having a fixed rate mortgage can be very advantageous when interest rates may rise due to economic uncertainty, and it gives homeowners peace of mind that their monthly/biweekly payment will stay the same for the long term.
Adjustable Rate Mortgages (ARMs) are beneficial for customers that need lower monthly payments initially as your rate for the initial fixed-rate period is usually lower than comparable fixed rate mortgages. This is especially helpful for homeowners that plan to move or refinance in the near future, as they can take advantage of the lower interest rates without the long-term commitment. The initial fixed-rate period of an ARM can be 5, 7, or 10 years, which could lead to significant short-term savings for borrowers. After the initial fixed-rate period, the rate is based on a 1 year ARM. It's important to note that ARM rates are influenced by market conditions, so your monthly payment could decrease if interest rates were to drop during the adjustable rate period of your mortgage. Many ARMs come with protective rate caps that limit how much your interest can increase during each adjustment period, providing some protection against rapid rate hikes.
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Community Financial Institution
At Geddes Federal, we service all of our mortgage loans. What does that mean for you?
- Peace of mind that comes with knowing your local home mortgage lender that will be servicing your mortgage for the life of the loan
- If you have any issues with your mortgage loan, you can give us a local phone call or visit one of our convenient branches. If possible, you may be helped by the original personnel that assisted you with your loan application
- Payments made easy by local mail, bill pay, auto debit or in person at a local branch
Convenient Banking in Manlius NY
Geddes Federal has the mortgage rates you need provided by the staff you can trust. Visit our Manlius Branch for convenient service and get your questions answered by a dedicated staff of local banking professionals.
Manlius Branch
240 West Seneca Street (Route 173)
Manlius, NY 13104
Mailing Address:
P.O. Box 280
Manlius, NY 13104
Phone: 315-468-6281 ext. 5907 or 5961
Fax: 315-682-4021
24 Hour ATM Available
Lobby Hours:
Monday - Thursday
9:00 AM - 4:00 PM
Friday
9:00 AM – 5:00 PM
Drive Thru Hours:
Monday - Thursday
8:00 AM - 4:00 PM
Friday
8:00 AM – 5:00 PM
Find a Mortgage Rate that works for your budget:
Special:
12 Year Monthly - 0 Points - 20% Down. Interest Rate 6.625%. APR 6.770% Example-For a $100,000.00 loan amount, annual percentage rate of 6.770% 1-143 principal and interest payments of $1,008.50. One final payment of $1,008.45. Total Finance Charges of $46,533.47. Total of payments, $145,223.95. The payments do not include taxes and insurance, the actual payment obligation may be higher.
30 Year Bi-Weekly - 0 Points - 20% Down. Interest Rate 7.250%. APR 7.340% Example-For a $100,000.00 loan amount, annual percentage rate of 7.340% 1-610 Bi-weekly principal and interest payments of $341.09 One final payment of $305.33. Total Finance Charges of $109,413.31. Total of payments, $208,370.23 The payments do not include taxes and insurance, the actual payment obligation may be higher.
25 Year Bi-Weekly - 0 Points - 20% Down. Interest Rate 7.000%. APR 7.097% Example-For a $100,000.00 loan amount, annual percentage rate of 7.097% 1-533 Bi-weekly principal and interest payments of $353.39 One final payment of $235.37. Total Finance Charges of $89,625.73 Total of payments, $188,592.24. The payments do not include taxes and insurance, the actual payment obligation may be higher.
25 Year Monthly - 0 Points - 20% Down. Interest Rate 7.125%. APR 7.210% Example-For a $100,000.00 loan amount, annual percentage rate of 7.210% 1-299 principal and interest payments of $714.78. One final payment of $709.19. Total Finance Charges of $115,779.03. Total of payments, $214,428.41. The payments do not include taxes and insurance, the actual payment obligation may be higher.
20 Year Bi-Weekly - 0 Points - 20% Down. Interest Rate 6.875%. APR 6.986% Example-For a $100,000.00 loan amount, annual percentage rate of 6.986% 1-441 Bi-weekly principal and interest payments of $383.91. One final payment of $383.00. Total Finance Charges of $70,716.01. Total of payments, $169,687.31. The payments do not include taxes and insurance, the actual payment obligation may be higher.
20 Year Monthly- 0 Points - 20% Down. Interest Rate 6.875%. APR 6.973% Example-For a $100,000.00 loan amount, annual percentage rate of 6.973%, 1-239 principal and interest Payments of $767.82. One final payment of $764.53. Total Finance Charges of $85,603.58 Total of payments, $184,273.51. The payments do not include taxes and insurance, the actual payment obligation may be higher.
15 Year Monthly- 0 Points - 20% Down. Interest Rate 6.750% APR 6.871% Example-For a $100,000.00 loan amount, annual percentage rate of 6.871%. 1-179 principal and interest payments of $884.91. One final payment of $884.74. Total Finance Charges of $60,603.42. Total of payments, $159,283.63. The payments do not include taxes and insurance, the actual payment obligation may be higher.
15 Year Bi-Weekly- 0 Points - 20% Down. Interest Rate of 6.750% APR 6.887%. Example for a $100,000.00 loan amount, annual percentage rate 6.887%, 1-340 Bi-weekly principal and interest payments of $442.46. One final payment of $369.52. Total Finance Charge of $51,829.82. Total of payments $150,805.92. The payments do not include taxes and insurance, the actual payment obligation may be higher.
12 Year Monthly-0 Points - 20% Down. Interest Rate of 6.625% APR 6.770%. Example for a $100,000.00 loan amount, annual percentage rate 6.770%, 1-143 principal & interest payments of $1,008.50. One final payment of $1,008.45. Total Finance Charge of $46,533.47. Total of payments $145,223.95. The payments do not include taxes and insurance, the actual payment obligation may be higher.
10 Year Monthly 0 Points - 20% Down. Interest Rate of 6.500% APR 6.668%. Example for a $100,000.00 loan amount, Annual percentage rate 6.668%. 1-119 principal & interest payments of $1,135.48. One Final payment of $1,135.44. Total Finance Charge of $37,556.81. Total of payments $136,257.56. The payments do not includes taxes and insurance, the actual payment obligation may be higher.
7 Year Monthly 0 Points - 20% Down. Interest Rate of 6.500% APR 6.730%. Example for a $100,000.00 loan amount, annual percentage rate of 6.730%. 1-83 principal & interest payments of $1,484.95. One final payment of $1,484.28. Total Finance Charge of $26,034.38. Total of payments $124,735.13. The payments do not include taxes and insurance, the actual payment obligation may be higher.
10-1 ARM 0 Points - 20% Down. Interest rate of 7.125%. APR 7.441%. Example for a $100,000.00 loan amount, annual percentage rate of 7.441%. 1 - 120 principal and interest payments of $673.72. 121 -359 principal and interest payments of $713.19 One final payment of $709.03. Total Finance Charge $153,358.46. Total of payments $252,007.84. The payments do not include taxes and insurance, the actual payment obligation may be higher. The interest rate and monthly payment amount may vary after the first 120 months. ARM loans are variable rate loans; Interest rates and payments may increase after consummation.
7-1 ARM 0 Points, - 20% Down. Interest rate of 7.000%. APR 7.481%. Example for a $100,000.00 loan amount, annual percentage rate of 7.481%. 1 - 84 principal and interest pay $665.31. 85 - 359 principal and interest pay $715.85. One final payment of $715.33. Total Finance Charge $154,800.46 Total of payments $253,460.12. The payments do not include taxes and insurance, the actual payment obligation may be higher. The interest rate and monthly payment amount may vary after the first 84 months. ARM loans are variable rate loans; Interest rates and payments may increase after consummation.
5-1 ARM 0 Points, - 20% Down. Interest rate of 6.875%. APR 7.533%. Example for a $100,000.00 loan amount, annual percentage rate of 7.533%. 1- 60 principal and interest payments of $656.93.
61 - 359 principal and interest payments of $717.78. One final payment of $714.34. Total Finance Charge $156,076.43. Total of payments $254,746.36. The payments do not include taxes and insurance, the actual payment obligation may be higher. The interest rate and monthly payment amount may vary after the first 60 months. ARM loans are variable rate loans; Interest rates and payments may increase after consummation.