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First-Time Homebuyers Rates

No Closing Cost First-Time Homebuyer 

Rates as of June 5, 2020
 

Monthly Fixed Mortgage Interest Rates

Monthly Fixed Mortgage Interest Rates
TermInterest RatePointsAPR*Minimum Down
103.125%03.36%3%
103.000%13.44%3%
102.875%23.54%3%
102.750%33.63%3%
153.125%03.28%3%
153.000%1

3.31%

3%
152.875%23.33%3%
152.750%33.35%3%
203.500%03.62%3%
203.375%13.61%3%
203.250%2

3.60%

3%
203.125%33.59%3%
30

3.625%

03.71%3%
303.500%13.67%3%
303.375%23.63%3%
303.250%33.58%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$485.69

$58,282.80

15$50,000$348.30$62,694.00
20$50,000$289.98$69,595.20
30$50,000$228.03$82,090.80

*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.