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Fixed & Adjustable Rate Mortgages

You have a lot of options when it comes to choosing a home and just as many options when choosing a mortgage.

Brick or Siding? Gas or Electric? Propane or Wood Stove? Fixed or Adjustable Rate? So many questions, so many options. Never fear, our home lending professionals will lead the way and break down your choices in easy to understand pieces.


Fixed Rate Mortgages:

This "traditional" type of loan maintains its original interest rate throughout the entire life of the loan. Fluctuations in market rates, over the term of your loan, won’t have any impact on the amount of interest you pay because that rate is already "fixed." A Fixed Rate Mortgage loan may be a good choice if you:
  • Want the security of knowing what the amount of your mortgage payment will always be 
  • Plan to stay in this home for at least ten years 
  • If, in the coming years, you don’t expect your income to increase significantly

Adjustable Rate Mortgages:

The name of this type of loan almost says it all. An Adjustable Rate Mortgage may be a good choice if you:
  • Want to maximize your buying power 
  • Want to keep your payments lower during the first few years of your loan
  • Plan to move into a different home within the next ten years 
  • Plan to pay-off your mortgage within the next 10 years 
  • If, in the coming years, you expect your income to increase significantly

Get started by calling the Home Lending Team at 315.777.8900 or by filling out our Contact Us Form.


*$100 will be deposited into a Northern Credit Union deposit account at the time the mortgage loan is funded.