Mortgage Loan Team
Journey to your dream home, whether building or buying take your next steps here!
Buying a new home is likely one of the biggest, if not the biggest purchase you’ll ever make. Having an experienced guide to help you navigate the process is important. Buying your dream house should be a pleasant experience! We’d like to help make it that way by taking the worry out of applying for a mortgage. That’s why we would like you to take our Home BuyAbility Test. It will help you find out how much home is right for you. You’re also invited to have a conversation with one of our amazing and attentive lenders, who are ready to talk when you are!
Don’t leave the bank for last!
If you want to put yourself in the best possible position to get the home of your dreams, start with your bank. It’s smart to get your documents, accounts, and credit score all aligned to give you the most leverage and negotiating power for your new home once you find it.
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.
- Conventional Loans 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. The rate on a conventional mortgage loan is generally higher than an adjustable rate mortgage.
- Adjustable Rate Loans usually start with lower rates than conventional loans. We’ll let you know how much the rate can be adjusted over the life of the loan, so you’ll know from the beginning the absolute maximum amount you would ever have to pay. 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 monthly payments may be lower.
Once you know approximately how much of a mortgage you can afford, use our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes and insurance are also not included on the chart, but may be added to your monthly payments.
If you are starting to look for a home, you can complete our convenient digital mortgage pre-qualification form in ten minutes from the comfort of your home computer. A Seneca Savings representative will follow up to assist you further.
Have Questions on Your Mortgage Options?
Contact our Team!
Meet Ted Kelly!
Mortgage Originator
NMLS #531859
(315)864-5650
EKelly@SenecaSavings.com
Is Refinancing Right For You?
Generally, it’s a good idea for you to consider refinancing whenever the interest rate for mortgages exceeds two percentage points below your present mortgage. And whether you apply with us for a new mortgage to buy the home you want, or to refinance your present mortgage, ask about a Homeowner’s Credit Line. It can help you save on fees when you apply; interest when you want to borrow money; and, taxes at the end of the year. Apply Online today, or for more details, speak to one of our mortgage loan experts at (315) 638-0233.