Mortgage & Home Equity Rates

With a choice of fixed and adjustable rate mortgages, Gouverneur Savings has the right mortgage for you!

Special features include...

  • Exceptional Turn-Around Time
  • Pre-Qualifications Available
  • Serviced Locally

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* Rates below effective as of 11/29/17 and are subject to change

MPF Program - Competitive Fixed Rate Mortgage

This secondary market fixed rate option allows families to purchase primary or secondary homes or lower the cost of their existing homes. With an MPF loan, you will be able to contact your loan officer for questions or concerns because servicing of your mortgage stays local with Gouverneur Savings and Loan.

Term Interest Rate (As Low As) * %APR Sample Payment *
15 Year Fixed 3.875% 3.876% $733.44
20 Year Fixed 3.875% 3.876% $599.41
30 Year Fixed 4.125% 4.125% $484.65

* Sample payments based on $100,000 and the longest term available and does not include amounts for taxes and insurances. Escrowing for property taxes, homeowner's insurance, and flood insurance is required and will increase the amount of your payment.

* The APR (Annual Percentage Rate) in this example reflects all pre-paid cost with no points and 29 odd-days interest.

* Interest Rates subject to change
* Interest rate locked when completed application submitted

The borrower pays all cost associated with a new mortgage transaction

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Fixed Rate Mortgages
Mortgage Insurance required with less than 20% down

Term Rate %APR * Sample Payment *
10 Year or Less 3.99% 3.991% $1,011.98
11 - 15 Years 4.25% 4.251% $752.28
16 - 20 Years 4.50% 4.501% $632.65
21 - 25 Years 4.75% 4.750% $570.12

* Sample payments based on $100,000 and the longest term available and does not include amounts for taxes and insurances. Escrowing for property taxes, homeowner's insurance, and flood insurance is required and will increase the amount of your payment.

* The APR (Annual Percentage Rate) in this example reflects all pre-paid cost with no points and 29 odd-days interest. The APR may increase after consummation.

* The borrower pays all cost associated with a new mortgage transaction.

Private Mortgage Insurance is available.

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Adjustable Rate Mortgage (ARM)
Mortgage Insurance required with less than 20% down

Term Rate %APR * Sample Payment *
1 Year ARM 10 - 30 Years 3.50% 3.50% $449.04
5 Year Fixed 1 Year ARM 10 - 30 Years 4.25% 4.25% $491.94
10 Year Fixed 1 Year ARM 10 - 30 Years 4.75% 4.75% $521.65

An Adjustable Rate Mortgage (ARM) means the initial interest rate is fixed for an introductory period before adjusting annually. The rates for our 1 Year ARM, 5/1 ARM and 10/1 ARM are fixed for 1 year, 5 years and 10 years respectively then adjust annually and may increase based on a market index but can't go above the predetermined adjustment cap.

* Sample payments based on $100,000 and the longest term available and does not included amounts for taxes and insurances. Escrowing for property taxes, homeowner's insurance and flood insurance is required and will increase the amount of your payment.

* The APR (Annual Percentage Rate) in this example reflects all pre-paid costs with no points and 29 odd-days interest.

Private Mortgage Insurance is available.

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Gouverneur Savings & Loan offers both Fixed and Adjustable Rate "No Closing Cost Loans"
For Primary Residence Only

Fixed Rate Mortgages – “No Closing Cost”
Mortgage Insurance required with less than 20% down

Term Rate %APR * Sample Payment *
10 Year or Less 4.50% 4.501% $1,036.38
11 - 15 Years 4.75% 4.751% $777.83
16 - 20 Years 4.90% 4.901% $654.44
21 - 25 Years 5.25% 5.25% $599.25

* Sample payments based on $100,000 and the longest term available and does not include amounts for taxes and insurances. Escrowing for property taxes, homeowner's insurance and flood insurance is required and will increase the amount of your payment.

* The APR (Annual Percentage Rate) in this example reflects all pre-paid cost with no points and 29 odd-days interest. The APR may increase after consummation.

Private Mortgage Insurance is available.

Adjustable Rate Mortgage (ARM) – “No Closing Cost”
Mortgage Insurance required with less than 20% down

Term Rate %APR * Sample Payment *
1 Year ARM 10 - 30 Years 3.99% 3.99% $476.84
5 Year Fixed 1 Year ARM 10 - 30 Years 4.50% 4.50% $506.69
10 Year Fixed 1 Year ARM 10 - 30 Years 5.25% 5.25% $552.20

An Adjustable Rate Mortgage (ARM) means the initial interest rate is fixed for an introductory period before adjusting annually. The rates for our 1 Year ARM, 5/1 ARM and 10/1 ARM are fixed for 1 year, 5 years and 10 years respectively then adjust annually and may increase based on a market index but can't go above the predetermined adjustment cap.

* Sample payments based on $100,000 and the longest term available and does not included amounts for taxes and insurances. Escrowing for property taxes, homeowner's insurance and flood insurance is required and will increase the amount of your payment.

* The APR (Annual Percentage Rate) in this example reflects all pre-paid costs with no points and 29 odd-days interest.

The borrower pays all costs associated with a new mortgage transaction.
Private Mortgage Insurance is available.

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Some things you should know about a no closing costs mortgage

We will collect the appraisal and credit report fee at the time initial disclosures are returned. This money will be refunded to you at closing unless you cancel the request for the loan after the credit report and appraisal are done at which time the money will be used to pay those out of pocket expenses we have incurred.

Our No Closing Costs Program covers the following:

  • Appraisal Fee (appraiser’s normal fee, only one appraisal)
  • Flood Cert (only one)
  • Attorney Fees
  • Mortgage Tax
  • UCC-Filing
  • Record Construction Agreement
  • Record Deed (only if property being purchased is being mortgaged)
  • Credit Report Fee
  • Abstract Fees (Max $200.00)
  • Record Mortgage
  • Equalization Fee-RP5217
  • Record Discharge (only one)
  • Record Notice of Lending
  • Data Verify

We will pay only normal costs related to these items. Additional expenses due to more than one property being mortgaged, title changes (except for a purchase), new abstracts, title insurance if customer requests it and additional construction loan expenses such as appraisal inspections will be the customer’s expense.

Items the Borrower may be responsible for:

  • Origination Fee (Construction)
  • Prepaid Interest
  • Title Applications (manufactured home purchase)
  • Deed Stamps (if applicable)
  • TP 584 (if applicable)
  • Additional Appraisal Fees
    (more than one property)
  • Property Tax Reserve
  • Extra Discharges (more than one)
  • Add’l Abstract Fees (over $200.00)
  • Title Insurance
  • Construction Inspection Fees

No Closing Costs only apply when mortgaging Borrower’s Primary Residence

You are obligated to reimburse the bank for closing costs we paid at the origination of the loan if you pay off the mortgage for any reason within 60 months of origination (36 months for HELOCs).

Your loan officer will be happy to answer any questions regarding our No Closing Cost program or other products we offer.

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Junior Liens
80% LTV Including First Mortgage

Term Rate %APR * Sample Payment *
5 Years 5.25% 5.316% $94.93 Based On $5,000
6 - 10 Years 5.75% 5.768% $109.77 Based On $10,000
11 - 15 Years 6.25% 6.263% $85.74 Based On $10,000

* Sample payments for 5 yr term based on $5,000 and the longest term available. Sample payments for 6-15 yr term based on $10,000 and the longest term available.

* The APR (Annual Percentage Rate) in this example reflects all pre-paid costs with no points and no odd-days interest. The APR may increase after consummation.

The borrower pays all costs associated with a new mortgage transaction.
Appraisal and abstract update required for loans $10,000 and over.

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Home Equity Line of Credit
10 Year Draw / 10 Year Payback

$7,500 - $24,999 - Customer pays all closing costs

$25,000 and up - No Closing Costs as long as line remains open for 36 months.
Ask about specifics on No Closing Costs.

  • Rate is adjustable and subject to change monthly.
  • Rate based on Wall Street Journal Prime Rate which is currently 4.250% plus a 0% margin. Current rate is 4.250%.
  • Rate cannot increase more than 8% above the initial rate and will never be less than the initial rate.

Primary and Second Home - No Closing Costs on Primary Home only

  • During the draw period, payment will be 1/240th of principal balance or a minimum of $100 plus interest
  • During the payback period, payment will be 1/120th of principal balance or a minimum of $100 plus interest

* Sample Payment: On a loan in draw period with a balance of $100,000 at the current rate of 4.250% the monthly payment would be $777.51.

* Sample Payment: On a loan in payback period with a balance of $100,000 at the current rate of 4.250% the monthly payment would be $1,194.17.

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Mortgages and Loans available to residents of St. Lawrence, Jefferson and Lewis Counties in New York State