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No Closing Costs in NY

Say yes to home ownership without breaking the bank (or should we say credit union?)
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Save $4,000 or more when we pay your closing costs. (Now isn’t that a great house-warming gift?)

  • No Closing Cost Mortgages In NY

    With a No Closing Cost Mortgage from Northern, you’ll save money (and time) now and for years to come:

    • No points, crazy extra fees or closing costs.
    • Flexible terms to fit your life and loan.
    • Save money up front, when you need it most.

    Here’s what is covered:

    • Processing fee: $475
    • Underwriting fee: $795
    • Appraisal fee: $650 – $1025*
    • Closing/escrow fee: $525
    • Courier fee: $32
    • Credit report fee: $60
    • Flood certification fee: $14
    • Tax service fee: $86
    • Recording fees: $340
    • Abstract fees: $245
    • Mortgage tax: varies based on property address and loan amount
    • Lender’s title insurance fees: varies based on loan amount
      Estimated Savings: $4,360+

    Here’s what’s not covered:

    • Real Estate taxes Homeowner’s (hazard) insurance premiums
    • Interest Owner’s attorney fees
    • Mortgage and transfer taxes
    • Home inspections (if needed)
    • Owner’s title insurance (if purchased)
    • Private mortgage insurance premiums (if needed)
    • Flood insurance premiums (if needed)
    • Reserve (or escrow) funds for property taxes and homeowner’s insurance (if required)

    To get started simply:

    • Become a member to take advantage of these great benefits, getting started is easy, join now!
    • Apply online anytime
    • For more information on mortgages with no closing costs, call 315-777-8910
    • Text HOME to 315-782-0155

    *Appraisal fees vary based on county and property type.

    Valid on owner-occupied, 1-4-family residential properties. Property and hazard insurance are required and are the responsibility of the borrower. “No closing costs” means no: processing fee, underwriting fee, abstract fees, lender’s title insurance fee, appraisal fee, closing/escrow fee, courier fee, bankruptcy search fee, credit report fee, flood certification fee, tax service fee, recording fees or mortgage tax. Member is responsible for prepaid costs including homeowner insurance premiums, prepaid interest and town/county/school taxes and down payments. If a member obtains owner title insurance, the member is responsible for the premium. For mortgages with less than 20% down payment, Private Mortgage Insurance (PMI) is required and the member is responsible for PMI premiums. If the no closing cost mortgage is closed or discharged within the first three years, Northern may collect the third-party closing costs from the member that were waived when the loan was opened. If a customer selects an attorney to represent him/her, customer is responsible for attorney fees. Northern Credit Union will not pay for a survey, nor any other item that is ordinarily paid for by the seller. A primary savings share account with $5 balance is required for Northern Credit Union membership.