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Get Help with Financing Your Dream Home!
At Palisades Credit Union, we understand that finding both the right home and the right mortgage is an individualized process. Our lenders are here not just to give you a home loan but to help you establish a solid foundation for successful homeownership. Whether you're buying your first home or next home, or refinancing your current mortgage, our experienced local mortgage lenders will take the time to listen to your needs and offer personalized, step-by-step advice throughout the mortgage process.
What Kinds of Mortgage Loans Does Palisades Offer?
We are proud to offer our members a variety of home mortgage loan options based on their lending needs.
Fixed-rate mortgages
A fixed-rate mortgage is a home loan with a set interest rate that remains unchanged for the entire term of the loan; choose between a 15-, 20-, or 30-year mortgage loan. This stability means that your interest rate does not fluctuate with market conditions and your monthly principal and interest payments will stay the same throughout the life of the loan, making it easier to budget and plan financially. This type of mortgage is popular among borrowers who value consistency and long-term planning over the potential savings that might come from a variable-rate mortgage.
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Adjustable-rate mortgages
A variable-rate mortgage, also known as an adjustable-rate mortgage (ARM), is a home loan with an interest rate that can change periodically based on fluctuations in a corresponding financial index. This means that the monthly payments can vary over the life of the loan. ARMs often start with a fixed interest rate for an initial period (3, 5, 7, or 10 years); during this time your interest rate and monthly principal and interest payments remain stable. After the initial period, the interest rate adjusts at predetermined intervals, based on the performance of a specific index plus a margin set by the lender. Variable-rate mortgages can be a good option for borrowers who anticipate changes in their financial situation, such as income increases or plans to move or refinance before the rate adjusts. However, they come with the risk of higher future payments if interest rates rise.
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VA mortgages
A VA mortgage loan is a home loan program specifically designed to help veterans, active-duty service members, and eligible surviving spouses obtain home financing with favorable terms. This loan is guaranteed by the U.S. Department of Veterans Affairs (VA), which provides lenders with protection against loss if the borrower defaults. This guarantee allows lenders to offer more favorable terms to qualified borrowers. Some of the most significant benefits are that VA loans do not require a down payment, generally have more flexible credit requirements, and have limits on imposed closing costs. VA mortgage loans are an excellent option for eligible veterans, active-duty service members, and surviving spouses, offering significant benefits that make homeownership more attainable and affordable.
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First-time homebuyers
First-time home buyers may not be aware of all the lending options available to them. If you’re a first-time homebuyer, let our experienced mortgage lenders help you find the best mortgage loan to meet your budget. We can help make the application process as seamless as possible.
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Mortgage refinance
Palisades can help borrowers save money on existing mortgage loans. If you currently have a mortgage with Palisades or another lending institution, you may be eligible to lower your monthly mortgage payment and save money by refinancing your mortgage. Consider a mortgage refinance when the current rates are lower than your existing mortgage rate, or if you would like to switch from a variable to a fixed-rate mortgage. You can also apply for a cash-out refinance to get your mortgage savings upfront.
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Why Choose Palisades Credit Union for Your Mortgage?
As a not-for-profit, member-owned credit union, Palisades is here to serve the financial needs of our members and local community. We've expanded since our founding in 1941 to serve all persons who live, work, worship, or attend school in Rockland County, New York and Bergen County, New Jersey, as well as New York State employees who work in the 5 NYC boroughs; members of Radio Television Broadcast Engineers Local 1212, International Brotherhood of Electrical Workers, AFL-CIO, in New York, NY; and USA Networks employees who work in or are paid from New York, NY.
With over $200 million in assets and more than 14,000 members, our most important goal is to build valued relationships through a lifetime of financial solutions. When you join Palisades Credit Union, you can be sure that we will always strive to bring you first-class financial services and personalized advice. If you're looking for home loans or home refinancing in Orangeburg, New City, or Nanuet, we are confident that you'll find what you’re looking for at Palisades Credit Union.
As a member of Palisades Credit Union, you can become eligible for certain benefits such as our Palisades Perks (free notary service and special discounts on other popular services)
Apply For a Mortgage with Palisades CU
Buying a home is often the biggest, and most emotionally rewarding, purchase you'll make in your lifetime. As your local credit union, Palisades’ mortgage lenders in Orangeburg, New City, and Nanuet love helping our members through the home buying journey. Whether you’re buying your first home, upgrading to a newer, bigger home, or refinancing your existing mortgage you can request contact from a Mortgage Loan Originator. Our friendly Rockland and Bergen County mortgage lenders are ready to assist you.
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