Areas covered by this survey:
Data in this survey covers the Central district of New York State, including the cities of Syracuse, Oneida and Oswego, and the counties of Cayuga, Oswego, Onondaga, Cortland and Madison.
About the survey
The entities listed in the survey below are representative of the mortgage lenders in the region. This is by no means an exhaustive list, nor is it meant to be. The rates listed may not be the most competitive you can find and are meant only to convey a range.
The Banking Department warns home buyers and owners to carefully review the terms of any loan and to consult a lawyer before signing any documents. For more information and tips on mortgages, read Shopping for a Mortgage: What you need to know in the consumer section of the Department's website.
| Lender Name | Phone | Lending Area | Term | % down | Rate % | Total Points |
App Fee $ |
APR % | Max Loan$ |
Rate Lock @ |
Commit Period |
Comments |
| ALLIANCE BANK | 315-363-4500 | CENTRAL NEW YORK | 30 | 5 | 5.25 | 0 | 300 | 5.290 | 417 | APL | 60 | |
| ALLIANCE BANK | 315-342-6272 | ONEIDA,OSWEGO & JEFFERSON | 30 | 5 | 5.25 | 0 | 300 | 5.290 | 417 | APL | 60 | |
| BANK OF AMERICA HOME LOANS | 315-452-7100 | ALL NEW YORK | 30 | 10 | 5.25 | 0 | 330 | 417 | APL | 60 | ||
| CHASE BANK | 315-424-2774 | ALL NEW YORK | 30 | 20 | 5.125 | 0.625 | 395 | 417 | APL | 60 | ||
| FIRST NIAGARA BANK | 607-756-5643 | ALL NEW YORK | 30 | 5 | 5.125 | 0 | 580 | 5.192 | 417 | APL | 60 | |
| HSBC MORTGAGE CORP USA | 800-537-8705 | ALL NEW YORK | 30 | 5 | 5.125 | 0 | 325 | 5.260 | 417 | OPT | 60 | |
| M & T BANK | 315-424-4475 | ONONDAGA,SYRACUSE | 30 | 5 | 5.13 | 0 | 520 | 417 | APL | 60 | ||
| ONEIDA SAVINGS BANK | 315-363-2000 | ONEIDA, MADISON | 30 | 5 | 5.25 | 0 | 320 | 5.316 | 417 | APL | 60 |
| NY State Latest Average Rates - 04/24/09 | 30-yr FRM: 5.45% with 0.18 points | 15-yr FRM: 5.16% with 0.18 points | 1-yr ARM: 4.96% with 0.26 points |
| Current ARM Indexes: 11/06/2009 | 1 Year Treasury Security: 0.39% | 12-MAT: 0.544% | 6-Month LIBOR: 5.382% |
About the survey, continued
Rates and information are gathered for a long-term fixed rate first mortgage for the purchase of a single-family home. Although we request rates for 30-year terms, there may be other, similar terms (such as 25 or 40 years) displayed as well.
The information presented is for borrowers with good to very good credit, commonly with a credit score of 700. These are rates available from regular branch or retail offices of the lender polled. Be aware that lenders may have websites where the same or different rates and terms may be displayed.
Some lenders may offer different rates for larger or smaller loan amounts than those shown, or can provide loans with different rate, point and fee combinations than those listed.
Survey Source: HSH Associates, Pompton Plains, NJ
Lender: The institution. If a credit union, you'll need to contact them for membership information and details.
Phone: The lender's contact number.
Lending Area: The region where this lender's office makes mortgage loans.
Term: The total repayment term of the listed mortgage.
% Down:
The required down payment toward the home's purchase price for this loan's price and features. For refinances, it is the % of the home's price you'll need to own to obtain this price and features.
Interest Rate: The current rate of interest for the loan shown.
Total Points: A fee, expressed as a percentage of the loan amount. One point is equal to a 1% fee; a 1% fee on $200,000 would be a $2,000 fee.
Application Fee: The fee the lender collects at the time you place an application. Often includes credit report and appraisal fee.
Annual Percentage Rate:
The APR is supposed to reflect the true cost of the loan by factoring into the interest rate certain of the fees and charges which accompany your loan. While required where loans are advertised, APR quotes are voluntary in HSH's editorial surveys, but are displayed if provided by the lender.
Maximum Loan $:
The largest loan amount available at this rate and terms. Some loans have a minimum loan amount, as well. See the loan comments section for details.
Rate Lock @: When the rate can be locked (may incur a fee or require deposit). APL=Application, APV=Approval, CMT=Commitment, CLS=Closing, OPT=Borrower's choice.
Commitment Period: This loan's price is predicated upon the loan closing before this number of days. Shorter or longer commitment periods may be offered at lower or higher interest rates and fees.
Loan Comment: Free-form details about this loan. May include interest rate caps, convertibility options, minimum loan amounts and other details about this specific loan.