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Mortgage

Mortgage Interest Rates

Rates as of October 27, 2020
 

Monthly and Bi-Weekly Fixed Interest Rates

Monthly Fixed Mortgage Interest Rates
TermInterest RatePointsAPR*No Closing Cost Interest Rate***APR*Minimum Down
102.625%02.85%3.375%3.61%5%
102.500%12.94%3.250%3.70%5%
102.375%23.03%3.125%3.79%5%
102.250%33.12%3.000%3.88%5%
152.625%02.78%3.375%3.54%5%
152.500%12.80%3.250%3.56%5%
152.375%22.82%3.125%3.58%5%
152.250%32.84%3.000%3.61%5%
203.000%03.12%Not AvailableNot Available5%
202.875%13.11%Not AvailableNot Available5%
202.750%23.10%Not AvailableNot Available5%
202.625%33.09%Not AvailableNot Available5%
30**3.125%03.21%Not AvailableNot Available5%
30**3.000%13.17%Not AvailableNot Available5%
30**2.875%23.12%Not AvailableNot Available5%
30**2.750%33.08%Not AvailableNot Available5%

Get a discount of 0.125% off the No Closing Cost Mortgage interest rate with Auto Pay from a Chemung Canal checking or savings account.


Monthly Fixed Mortgage Loan Payment Examples (assume 0 points)

Monthly Fixed Mortgage Loan Payment Examples
Term (Years)Amount BorrowedMonthly Payment (not including Escrow or PMI)Total Loan & Interest
10$50,000$474.20$56,904.00
15$50,000$336.34$60,541.20
20$50,000$277.30$66,552.00
30$50,000$214.19$77,108.40

Monthly Fixed No Closing Costs Mortgage Payment Examples (assume 0 points)

Monthly Fixed Mortgage Loan Payment Examples
Term (Years)Amount BorrowedMonthly Payment (not including Escrow or PMI)Total Loan & Interest
10$50,000$491.51$58,981.20
15$50,000$354.38$63,788.40

*APR = Annual Percentage Rate
**Bi-Weekly rates are not offered on our 30 year-term mortgage offers.

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $50,000 and an estimated property value of $62,500. Payments reflect the principle and interest only. The property is an existing single family home and will be used as a primary residence. These mortgage rates are based upon a variety of assumptions and conditions. Your loan's interest rate will depend upon the specific characteristics of your loan transaction. Contact the Real Estate Lending Department for details. A discount of 0.125% applied with Auto Pay on No Closing Cost Mortgages.
 
***No closing costs means no:  origination fees/points, application fees, flood-check fees, credit-report fees, appraisal fees, mortgage-recording fees, title search fees, lender title insurance fees, bank-attorney fees and mortgage-recording tax.  Valid on primary residence or second home, 1-4 family residential properties only.  Valid on 10 and 15-year terms only. Private Mortgage Insurance (PMI) is required on loans with less than 20% down payment.  You will be required to reimburse the Bank fees paid to third parties that were waived as part of the no-closing cost mortgage if it is closed or discharged within the first three (3) years after the opening date.  The Bank will not pay for a survey, nor any other item that is ordinarily paid for by the seller.  Refinances of an existing Chemung Canal mortgage requires $50,000 in new money.
 

Click here to access Adjustable-Rate Mortgage interest rates through our Online Mortgage and Home Equity Center.

  • Interest rates subject to change without notice
  • All loans subject to credit approval
  • Private Mortgage Insurance (PMI) is required for loans with less than 20% down

For more information, please contact us at (607) 737-3815 or toll-free at (800) 836-3711 extension 3815.