Skip to Content
Menu

First-Time Homebuyers Rates

No Closing Cost First-Time Homebuyer 

Rates as of May 20, 2022
 

Monthly Fixed Mortgage Interest Rates

Monthly Fixed Mortgage Interest Rates
TermInterest RatePointsAPR*Minimum Down
104.750%04.99%3%
104.625%15.08%3%
104.500%25.18%3%
104.375%35.28%3%
154.750%04.92%3%
154.625%1

4.94%

3%
154.500%24.97%3%
154.375%35.00%3%
205.125%05.26%3%
205.000%15.25%3%
204.875%2

5.25%

3%
204.750%35.25%3%
30

5.750%

05.85%3%
305.625%15.82%3%
305.500%25.79%3%
305.375%35.76%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$524.24

$62,908.80

15$50,000$388.92$70,005.60
20$50,000$333.44$80,025.60
30$50,000$291.79$105,044.40

*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.