Areas covered by this survey:
Data in this survey covers the North Country portion of New York State, including the cities of Plattsburgh, Watertown and Massena, and the counties of Jefferson, Lewis, St. Lawrence, Franklin, Clinton and Essex.

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 recommends that consumers shop around to find the rates and terms that fit their needs by contacting a variety of mortgage lenders including commercial banks, savings banks and mortgage bankers.

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	Adj Per	Term	% down	Rate %	Total Points	App Fee $	APR %	Max Loan $	Index Used	Margin %	Adj Cap %	Life Cap %	Rate Lock @	Commit Period	Comment
ADIRONDACK BANK	518-561-1816	FRNKLN,ESSEX,HERKMER,CLINTN	5/1	30	20	5	0	367		417	1YT	2.875	2	5	APL	45
COMMUNITY BANK	315-386-4553	ALL NEW YORK	5/1	30	5	4.875	0	545		417	1YT	2.75	2	6	OPT	50
GLENS FALLS NATIONAL BANK	518-561-3101	CLINTON,ESSEX COUNTIES	5/1	30	20	4.5	0	425		417	1YT	2.75	2	6	APL	60
GOUVERNEUR SAVINGS & LOAN	315-287-2600	ST LAWRENCE,JEFFERSON,LEWIS	5/1	30	20	5.99	0	300		417	1YT	2.75	2	6	CMT	60	<1ST ADJ CAP 2%
KEY BANK	315-785-4755	SYRACUSE TO PLATTSBURGH	5/1	30	5	4.25	0	300		417	LIBOR	2.25	2	5	APL	30	<1ST ADJ CAP 5%
NBT BANK	315-386-2265	ST.LAWRENCE,CLINTON,FRANKLN	5/1	30	10	5.625	0	475		417	1YT	2.75	2	6	APL	60
NORTH COUNTRY SAVINGS	315-393-1600	ST. LAWRENCE COUNTY	5/1	30	5	5.25	0	300		417	NMCR	0	2	5	CLS
TD BANKNORTH NEW YORK	518-561-9730	NORTHEAST NEW YORK	5/1	30	20	3.875	0	350		417	LIBOR	2.25	2	5	APL	30

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

About the survey, continued
Rates and information are gathered for a common adjustable rate first mortgage for the purchase of a single-family home. Although we typically request rates for hybrid ARMs with initial fixed rate periods of five years, there may be other, similar terms displayed, such as traditional one-year or fixed initially for three years, depending upon the programs the lender has available.

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

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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.

Adjustment Period: The interval at which the interest rate of the loan will change. A 'split' period, such as 5/1, indicates that the rate is fixed for five years, then adjusts each year for the remainder of the term listed in the Loan Term column.

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.

Index Used: The index which is used to adjust the ARM's interest rate at its scheduled change interval.

Adjustment Cap %: Expressed in percentage points, the amount the interest rate can change at each adjustment. Also called a Periodic Cap.

Life Cap %: Expressed in percentage points, the maximum amount the interest rate change from the loan's initial interest rate. Some lenders express this number as a ceiling (i.e. 10%).

Lock Rate @: 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.