GPO Mortgage options
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At GPO, our members mean more than money. We focus on delivering you products that meet the needs of real people, like you. We're committed to providing our member-owners with competitive, convenient, and responsible home lending options.
Whether you're purchasing your first home or refinancing an existing mortgage, trust your credit union:
*By accessing any of the links below, you will be leaving GPO’s website and entering a site not operated by the credit union. Although this is a GPO partner site, we are not responsible for the content.
FREE MORTGAGE PRE-QUALIFICATION
A mortgage pre-qualification tells you how much of a monthly mortgage payment you can afford. It is based on verbal information received from you, and constitutes no binding commitment. A mortgage pre-qualification puts you one step ahead of other home buyers, because you know how much home you can afford to buy! It should be the first step to your home buying process. This pre-qualification is free and can be done over the telephone or online.
WHICH MORTGAGE IS RIGHT FOR YOU?
Compare our fixed rate, adjustable rate, FHA, lifestyle mortgage options and more. |
CONTACT US
Call a member of our mortgage team to discuss your mortgage options. AMY FIERRO
Assistant Vice President of Real Estate Lending MLO# 491743 (315) 737-2951 afierro@gpofcu.com |
FIXED-RATE MORTGAGE
- For those who prefer regular payments with no surprises, with limited or fixed income, who plan to stay in the home a long time. Or, for those who are buying when rates are low.
- 30, 20, and 15-year terms available.
- Extended rate locks.
- Purchase and refinance existing mortgages with a fixed rate, can also be used for a second home, investment properties, one to four-family homes, condos, manufactured homes, housing and urban development properties (HUD), and planned unit development (PUD) properties.
ADJUSTABLE-RATE MORTGAGE (ARM)
- For those who want to free up money in the short term for other investments, or that plan to move or refinance within a few years. This may also allow you to qualify for a larger loan amount than you would be able to with a fixed-rate mortgage.
- One year ARMs, convertible and non-convertible.
- Extended rate locks.
- 5/1, 7/1, and 10/1 ARMs available.
- Purchase and refinance mortgages with up to 95% financing. Also can be used for one to four-family homes, condos, manufactured homes, housing and urban development properties (HUD), and planned unit development (PUD) properties.
- Attractive capping structure.
FHA MORTGAGE
- For those who have limited funds available for a down payment (as low as 3.5%), or if the down payment will be gifted.
- You can have a lower minimum credit score to qualify for a Federal Housing Administration (FHA) mortgage, but will still need a regular income and employment stability.
- This mortgage option may help if you have a previous bankruptcy or foreclosure.
LIFESTYLE MORTGAGE
GPO's Lifestyle Mortgage program is the perfect option for members who want to pay off their mortgage quickly. It accelerates the payoff of your current mortgage, while locking in today's low rate. This in-house, first lien mortgage will give you the option of five, seven, 10, 12, or a 15-year term, with a historically low rate and average closing costs are less than typical secondary market closing costs.
GPO's Lifestyle Mortgage program is the perfect option for members who want to pay off their mortgage quickly. It accelerates the payoff of your current mortgage, while locking in today's low rate. This in-house, first lien mortgage will give you the option of five, seven, 10, 12, or a 15-year term, with a historically low rate and average closing costs are less than typical secondary market closing costs.
- Fixed rate mortgages
- Easy payment plans, including bi-weekly payments that can save you thousands of dollars over the term of the loan
- Up to 90% financing
- No points
- 45-day rate lock
- Average closing costs are less than typical.
OWNERSCHOICE FUNDING
GPO is a shareholder of OwnersChoice Funding. OwnersChoice Funding serves credit union members throughout New York by offering a variety of mortgage options with competitive rates.
GPO is a shareholder of OwnersChoice Funding. OwnersChoice Funding serves credit union members throughout New York by offering a variety of mortgage options with competitive rates.
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Members with mortgage loans serviced through our mortgage partner, OwnersChoice Funding (OCF), have the ability to make their payments via ACH to OCF, mail a check to OCF or now pay their mortgage on their internal GPO account at the teller line or via mobile and online within their GPO account to their OCF mortgage suffix.
Members will now be able to log in online and see a suffix set up on their GPO account that will be associated with their OCF mortgage. This suffix will be #50 – and described as 1st MORT OWNCH. This suffix is set up solely for making payments on your mortgage account. |
Important things to know:
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VA MORTGAGE
For eligible veterans, service members, and surviving spouses, this option has no down payment requirement under certain conditions, and private mortgage insurance is not required.
For eligible veterans, service members, and surviving spouses, this option has no down payment requirement under certain conditions, and private mortgage insurance is not required.
USDA MORTGAGE
For low and moderate- income rural home buyers in a qualifying region. There is no down payment required, and sellers concessions are allowed.
For low and moderate- income rural home buyers in a qualifying region. There is no down payment required, and sellers concessions are allowed.
