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First-Time Homebuyers Rates

No Closing Cost First-Time Homebuyer 

Rates as of April 15, 2021
 

Monthly Fixed Mortgage Interest Rates

Monthly Fixed Mortgage Interest Rates
TermInterest RatePointsAPR*Minimum Down
103.250%03.48%3%
103.125%13.57%3%
103.000%23.66%3%
102.875%33.75%3%
153.250%03.41%3%
153.125%1

3.43%

3%
153.000%23.45%3%
152.875%33.48%3%
203.625%03.75%3%
203.500%13.74%3%
203.375%2

3.73%

3%
203.250%33.72%3%
30

3.875%

03.97%3%
303.750%13.92%3%
303.625%23.88%3%
303.500%33.84%3%

Get a discount of 0.125% off the interest rate when using Auto Pay with 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$488.60

$58,632.00

15$50,000$351.33$63,239.40
20$50,000$293.20$70,368.00
30$50,000$235.12$84,643.20

*APR = Annual Percentage Rate
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 first-time homebuyer is defined as an individual or family who has not owned a home during the three year period prior to purchase. Exceptions to the three-year period exist for any individual who is a displaced homemaker or a single parent or any individual that owns or owned as a principal residence during such three-year period, a dwelling unit whose structure is not permanently affixed to a permanent foundation in accordance with local or applicable regulations. Existing homes only (no construction mortgages).
 

  • 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.