We're Here to Help (315) 735-8571

Mortgage Loans

Affordable Home Financing

First Source offers standard home loans as well as our own specialized mortgage programs. We have a systematic process we’ve developed to make your experience easy and smooth, communicating at each milestone along the way.

Woman hugging man and holding home keys.

Types Of Mortgages Available

There are three standard mortgage loan categories to which all mortgages fall under. Rates are generally very similar for each of these options.

 

Conventional Mortgage

A Conventional Mortgage often requires a minimum of 5% down and can be a good choice for those with good credit ratings.

Learn More


Government Federal Housing Administration (FHA)

An FHA Mortgage can be a better option if you have less-than-perfect credit and may need more assistance with closing costs. A lower percentage is required for a down payment, and the seller has a higher percentage option for concessions.

Learn More


Government Veterans’ Assistance (VA) Loan​

A VA Mortgage is a specific home financing option available for veterans only, allowing for 0% down. Your DD214 and Certificate of Eligibility are required.

Learn More



First Source Specialized Mortgage Programs

First Source also offers tailored mortgage programs for first-time home buyers and for those who serve our community.


Community Heroes Program​**

If you are in a professional or support role in the fields of Education, Law Enforcement, Healthcare, U.S. Military (active-duty or veteran), or Fire & Rescue (full-time or volunteer), you can get up to $450 in cash/discounts toward your home purchase.

Learn More


Home Possible Programs​***

There are 2 options available to first-time home buyers within the Home Possible Program. Each offers a different set of benefits and Loan-To-Value (LTV) ratios. See which may be best for you.

Learn More


100% Mortgage Financing

Some home buyers are eligible for 100% financing, making a down payment no longer required.

Learn More


Mortgage Refinancing​

Refinancing options are available for those looking to replace their current loan, lower their interest rate, and reduce mortgage payments. This can help save thousands over the life of your mortgage.

Learn More


Mortgage Checklist

As you prepare to speak with one of our Mortgage Specialists, we recommend downloading our handy Mortgage checklist. This guide will help you gather and organize the paperwork you’ll need to start the mortgage process.

Download Our Checklist


Live Smarter

Every situation and home is unique. We look forward to working with you on your specific need for affordable home ownership. If you’re not ready to apply for a Mortgage loan, you might want to consider scheduling an introductory discovery call with one of our Mortgage Team representatives. Simply click on the button below, select the “Apply for a Loan” service from the menu and choose the “Mortgage Services” option.


Looking For More Information?

Check out our Online Mortgage Center for helpful tips and if you’re ready, you can start the application process right here.

You’ll also find today’s mortgage rates, the ability to check the status of your loan, and answers to just about any question that you may have about mortgages.

Online Mortgage Center

Let’s Get Started

We look forward to helping you.

Apply Now

Not sure how much house you can afford?

Check out our helpful mortgage loan calculator.


Mortgage Loan Calculator

Diana’s experience getting a new mortgage shows why choosing the right lender can make all the difference.

Mortgage Loans

Check today’s mortgage loan rates effective August 1, 2021


Apply for a Mortgage Now


*Annual percentage rate
Mortgages in New York State only. Information is based on a loan amount of $160,000, credit score above 740, and loan-to-value at or below 60%. Your actual annual percentage rate may be different. All rates are subject to change without notice.

If an escrow account is required or requested, the actual payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Rates are based on a purchase or no cash out refinance, cash out options may affect your rate.

***Mortgage Programs are offered by Homeowners Advantage (HOA). Mortgages in New York State only. Home Loan interest may be tax deductible. Consult your tax professional about deductibility in your situation. HOA is a Licensed Mortgage Banker-NYS Department of Financial Services. HOA NMLS identifier: 290363. Principal Address: 4 Winners Circle, Albany, NY 12205.

**Mortgage products are offered by Homeowners Advantage through First Source Federal Credit Union. Full disclosures and terms will be provided during Community Heroes Mortgage Program consultations. The summary below is not all-inclusive. Mortgage is restricted to the primary residence (purchase only) located in NY State.


First Source credit and membership eligibility requirements apply. A First Source checking account with payroll direct deposit and automatic mortgage payments is required. The $250 deposit will be made to the program participant’s First Source checking account within 30 days of the closing, upon verification of all eligibility requirements. Personal real estate attorney fee waiver is a $150 credit, not redeemable as cash. Discounted home inspection fee is set by the inspector based on square footage, and not redeemable as cash. You are not required to use the program service provider(s) as a condition of the purchase of the subject property. You may use an alternative provider offering a similar service; however related discounts and other savings will not be available to you.

Proof of employment in healthcare, education, law enforcement, fire and rescue, U.S. military, or veteran status is required to be eligible for the Community Heroes Mortgage Program.

Mortgage products are offered by our Mortgage Team, Homeowners Advantage (HOA), which is a subsidiary of CAP COM FCU. HOA is a licensed Mortgage Banker – NYS Dept. of Financial Services. HOA NMLS Identifier: 290363. Principal Address: 4 Winners Circle, Albany, NY 12205. CAP COM FCU NMLS Identifier: 401261.