Fixed-Rate Mortgages

The difference between a fixed-rate and an adjustable-rate mortgage lies in the interest rate for the loan. For a fixed-rate mortgage, the interest rate is set when you take out the loan and will not change. The fixed interest rate allows borrowers a measure of predictability. With an adjustable-rate mortgage, the interest rate may increase or decrease. The borrower assumes the risk of interest rate increases in exchange for lower initial rates and lower initial mortgage payments.

Yes, Bethpage offers fixed-rate mortgage options for both purchase and refinance transactions.

Yes, you can pay off your Bethpage Fixed-Rate Mortgage any time without any pre-payment penalties.

By completing a loan application, a Bethpage Mortgage Loan Officer can help you determine the mortgage amount that you can afford. Or, you can get a ballpark idea using our home affordability calculator.

The documentation you will need to obtain a mortgage includes:
- Most recent pay stubs covering the last 30-day period
- Past two years of W-2 Forms from all employers (current & previous)
- 2 most recent bank statements (all pages). Include all accounts used for transaction
- Past 2 years of Federal Tax returns (1040 Form) with all pages and schedules (if applicable, self-employed/rental income/retirement income)

Additional items you will need when purchasing a home:
- Your attorney’s contact information
- Your realtor’s contact information
- Copy of fully executed and dated Contract of Sale

As you go through the process, additional documentation may be needed.

To start your application online, click here. Or, you can visit your local branch or call 1 (855) 971-0764 to be connected with a Bethpage Mortgage Loan Officer.