Home Loans

We make it easier to buy a new home!

Oswego Community Bank offers a wide range of loan products that fit most financial situations. Listed here are just a few of the financial solutions we have to offer. Your loan officer can discuss your financial needs with you and determine which solution is best.

Select A Mortgage Loan To Fit Your Financial Situation

• Conventional Loans have a fixed rate and monthly payment for the entire life of the loan. It's easy to budget for this type of loan because your payment will always be the same. The rate on a conventional mortgage loan is generally higher than an adjustable rate mortgage.
• Adjustable Rate Loans usually start with lower rates than conventional loans. We'll let you know how much the rate can be adjusted over the life of the loan, so you'll know from the beginning the absolute maximum amount you would ever have to pay. If you will be moving in a few years, or if you think interest rates will be going down, you'll want to consider an adjustable rate since monthly payments may be lower.
• FHA Loans offer lower interest rates, require a relatively small down payment, and are insured through the Federal Housing Administration.
• Advantage 103 offers you the ability to buy your new home with NO DOWN PAYMENT and even finance most of your closings costs. You can even waive private mortgage insurance if you desire.
• Going to live in your home a short period of time but you still want a low monthly payment? We have the answer for you with a 5 or 7 year balloon loan with very low rates of interest!
• No Income, Stated Assets – Do you have an income that is hard to verify? Maybe our no income, stated asset program is right for you. We will use only what you state as your assets and not ask for income verification. Certain credit requirements must be met. Talk to your loan officer for details on this program.

Do you know approximately how much home is in your price range? Use our convenient Mortgage Loan Calculators to estimate your monthly payments based on current interest rates. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage life insurance are also not included on the chart, but may be added to your monthly payments.

Ready to apply for a mortgage? Visit our Mortgage Loan Application Site and you will be able to apply on-line or if you prefer you can print out a mortgage application and mail or bring it into the bank.