We’ve been helping our people get home since 1859. Reach out to us about making your dream of homeownership come true.
- Competitive Rates
- Flexible Terms
- Local, Trusted Lenders
- Competitive rates for home purchase, refinance, or construction
- Wide range of terms and programs available
- Fixed rates and adjustable rate mortgages (ARMs)
- Timely closing
- Rate-lock guarantee
- Pre-qualification available for better buying power
- Refinancing available to potentially lower your current rate
- Help from experienced lenders who know local real estate
- Local decision-making and processing in Central New York
- Professional, friendly service every step of the way
Fixed Rate vs. ARM
There are a wide range of terms and options we can use to customize your mortgage loans. The best way to get started is deciding whether a fixed rate or an adjustable rate mortgage (ARM) is right for you.
Why choose a fixed rate?
- Your interest rate will never increase
- Stability and consistency
- Predictable monthly payments
- Option to pay "points," an upfront investment that reduces interest rate and resulting monthly payment
Why choose an ARM?
The initial interest rate is always lower with an ARM over a fixed rate mortgage. This is an obvious advantage. But many people wonder, "Why choose an ARM if the rate might keep increasing?" Good question. It's not for everyone, but an ARM could be perfect if:
- You plan on selling the house in 5-10 years
- You expect your salary and income to increase within a few years
- All Pathfinder Bank ARMs have annual and lifetime limits on interest rate changes