Fixed-Rate vs. Adjustable Rate Mortgages
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Today's Mortgage Rates
Take advantage of Bethpage's competitive mortgage rates
30 Year Conventional Fixed Rate
(Rates assume a NY property)
(Rates assume a NY property)
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Rate [1]
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APR [2]
APR
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If you are ready to apply online now, here's some information before you get started:
- The online mortgage application usually takes 15-20 minutes
- You can save and resume your progress at any time
- Once submitted, our team will reach out to discuss the next steps
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Mortgage Payment Calculator[3]
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Mortgage options to meet your needs.
Make consistent monthly payments for the life of the loan.
Start with a lower initial interest rate and monthly payments.
Receive a higher loan amount for more expensive homes.
Pay less interest with a short-term fixed loan. (View payment examples)
Finance a home with less money down and a less restrictive approval process than a traditional mortgage.
Make a smart investment, whether for rental or resale.
Explore the most commonly-asked mortgage questions
Yes, you can pay off your Bethpage 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.
Bethpage offers a free 60 day rate lock! [5]
Many factors determine the type of mortgage that is best for you, including your current financial situation and the length of time you intend to stay in your home. At Bethpage, we offer a wide selection of mortgage options, and we encourage you to speak with a Bethpage Mortgage Loan Officer, who will help you make the most appropriate decision.
With a Bethpage ARM, there is a maximum for each adjustment and for how much your interest rate can increase over the life of the loan. For example, for our 10/1 ARM, the interest rate for each adjustment cannot increase or decrease more than 2 percent after the fixed rate period. And, the interest rate will never increase or decrease more than 6 percent for the life of the loan. Caps may vary by program.
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.
While FHA-Insured Mortgage Loans are ideal for first-time homebuyers, people who have owned a home in the past can also take advantage of the program.
All loan terms are subject to credit and loan program requirements (applicants may be offered credit at higher rates and other terms). Certain loan programs may not be available to all applicants. Loans above 80% Loan to Value ( LTV) requires private mortgage insurance (PMI). Bethpage does not offer residential mortgage loans in Texas. To obtain a loan, membership at Bethpage is required by opening a $5.00 minimum share savings account at or prior to consummation of the loan. Rates, loan programs, terms, and conditions are subject to change without notice. Other restrictions and limitations may apply.
* ARM Loans are variable rate loans, where interest rates and payments may increase after consummation. A 10/1 ARM has an initial fixed interest rate for the first 10 years, then adjusts every year thereafter based on an index, plus a margin. After the initial fixed-rate period, your interest can increase or decrease annually according to the market index. Any change may significantly impact your monthly payment.
[1] Rates and terms subject to change without notice. All offers of credit are subject to credit approval; not all applicants will qualify for the lowest rate and may be offered credit at higher rates and other terms based on creditworthiness.
Interest Rate and APR Assumptions: The Interest Rate and APR assumes the mortgage is a conforming loan to purchase or refinance an existing single-family home used as the borrower’s primary residence in New York. a Loan to Value of 75% or less, the borrower has excellent credit (720) or greater), a rate lock of 60 days or less, 30 year term, and a loan amount of $165,000.
[2] APR= Annual Percentage Rate. The APR is the cost of credit over the term of the loan expressed as an annual rate. Rates as of –/–/—- and are subject to change without notice.
[3] This calculator is for illustrative purposes only and all examples are hypothetical. Calculations do not include closing costs, fees, and restrictions that certain products may have. This calculator does not indicate whether you would qualify for a Bethpage loan and is not intended to provide investment advice, legal, financial, or tax advice. We cannot and do not guarantee their applicability or accuracy.
[4] Free rate lock is valid for 60 days. A completed application is required in order to request a rate lock.