Mortgage Loans

seneca savings mortgage loans journeyBuying or Building Your Home

Buying a home is one of, if not the single largest purchase you’ll ever make. You deserve to know all you can going into such a big decision so you can navigate all the curves in the road ahead with greater ease and comfort.

There are many options for new home buyers including building your dream home. Guiding you on this path is what we’re here for.

So, before you get started on your home buying or building journey, what do you need to know?

simple easy fast mortgage process with on site decision makers seneca savings



Conventional Purchase

A majority of potential home buyers utilize the path of a conventional purchase:

  • 1st & 2nd Homes
  • Minimum of 5% Down payment
  • Must be a Primary residence
  • PMI falls off automatically at 78% loan to value

*Note that PMI stands for the private mortgage insurance required if you’re putting less than 20% down payment on your new home at the time of purchase. While it does add to your monthly payment, it allows you flexibility to get into your dream home without the burden of 20% of the purchase price towards your down payment at the time of closing.

Purchase Rehabilitation Loan 

Purchasing a home that needs TLC? This type of loan is for the fixer-uppers.

  • This is a unique loan which allows extra funds to be borrowed at the time of purchase to allow for home renovations

First-time home buyer purchase

  • Requires a minimum of 3% Down
  • PMI falls off automatically at 78% loan to value

*Like all of our mortgage products, the first-time home buyer mortgage is also conventional (not FHA).

new construction building your home with seneca savings Construction Loans

Can’t find the exact home available on the market that you’re dreaming of? Build the house that becomes you and your family’s home with our new construction loan, End Loans & Draw Loans

  • Purchase/Refinance/Construction
  • Minimum of 5% Down (includes PMI)
  • One-time Close for ease and speed
  • Land Loans
    • 25% Down
    • Fixed Rate

Portfolio Products

Life has a way of taking turns and twists. Sometimes you may require a different, non-standard mortgage. Every situation is different. If you don’t fit into the traditional mortgage guidelines, we have options for you!


When you need to utilize the equity in your home, whether for debt consolidation, home improvements, etc., refinancing is a strong option. 

  • Cash Out
  • Rate/Term     

Home Equity Lines of Credit

Leverage the value/equity in your home to create a HELOC (Home Equity Line of Credit).

  • Line of Credit
  • Interest paid is only on the amount being utilized
  • No penalty for pre-pay or keeping the line open for longer than three years
  • Max LTV 80%

Contact one of our Loan Officers today with any questions you may have!

picture of Ted Kellypicture of Clare Bader
Ted Kelly
(315) 864-5650
Mortgage Loan Originator

NMLS #531859
Clara Bader
Mortgage Loan Officer

NMLS# 1952872

home equity line of credit application

Member FDIC   Equal Housing Lender

Mortgage RatesIcon For: Mortgage Rates

30 yr. Conventional Fixed
20 yr. Conventional Fixed
15 yr. Conventional Fixed
Learn More

Rate Effective December 4, 2023. All Rates, Terms, and Conditions are Subject to Change or Withdrawal Without Notice. On a 30 year mortgage, with 0 points, for $100,000 with an interest rate of 7.000% (7.106% APR) ,the principal and interest payment would be $665.30 per month. *Payments do not include amounts for taxes and insurance premiums (if applicable) and actual payment obligation will be greater. Minimum loan amount $30,000. Maximum conforming loan amount $726,200. All loans subject to secondary market underwriting requirements. All Rates and terms are quoted for 1-2 unit owner occupied residences. Annual Percentage Rates (APR) is based on $100,000 loan amount, at the term and interest rate noted above.