Mortgage Loans
Select a Mortgage Loan to Fit your Financial Situation
Before you apply for your mortgage loan, you’ll need to decide which type of loan may be right for you. Tioga State Bank offers a variety of mortgage loan options and our mortgage lenders can help you find the one that best suits your financial situation.
| Loan Programs: | |
|---|---|
| Fixed Rate Mortgages | Fixed Rate Mortgages have a fixed rate and monthly payment for the entire life of the loan. It's easy to budget for this type of loan because your payment will always be the same. |
| Adjustable Rate Mortgages | Adjustable Rate Mortgages typically start with lower interest rates than fixed rate mortgages. If you will be moving in a few years or if you think interest rates will be going down, you'll want to consider an adjustable rate since payments may be lower. |
| First Time Home Buyer Program | Tioga State Bank offers specialized mortgage financing to new homeowners. TSB will also guide first time homebuyers through the entire, often complex, home buying process. |
| Construction Mortgages | Construction Mortgages are available for stick-built, modular, pre-fabricated homes, log homes, and manufactured homes with fixed rates. At Tioga State Bank we offer a unique, single closing option for construction mortgages. |
| Special Interest Financing | Special Interest Financing for raw land, seasonal properties, and manufactured housing is available. |
| No Closing Costs Mortgage | Tioga State Bank offers No Closing Cost Mortgages with a variety of fixed rate terms. |
| Jumbo Mortgages | A Jumbo Mortgage is designed for loans starting at $548,250 up to $981,700 for 1 to 4 family owner occupied real estate. |
| Refinancing Options | Tioga State Bank offers multiple refinancing options. |
Pay Down Balances.
Private Mortgage Insurance (PMI) is required on loans for purchases and refinances when there is a down payment of less than 20% or equity in the existing house to be refinanced of less than 20%.
Is Refinancing Right For You?
Generally, it’s a good idea for you to consider refinancing whenever the interest rate for mortgages is more than two percentage points below your present mortgage. Whether you apply with us for a new mortgage to buy the home you want, or to refinance your present mortgage, speak to one of our mortgage loan experts.