If you are looking to purchase a home, or refinance your existing mortgage, you can be sure that the credit union is here to help you every step of the way. Like the thousands of homeowners that have financed a mortgage with Hudson Valley Credit Union, you can feel confident knowing you will receive personalized, one-on-one service that is unmatched by other national (and local) lenders. We offer financing for homes in New York, Connecticut, and Pennsylvania.
It’s also important to educate yourself and shop wisely when financing a home. We make it easy for you to learn more about the mortgage process, even if you’re not ready to apply right away. So go ahead and kick the tires and take advantages of all our online resources. When you’re ready to take the next step, we’ll be there to help you all along the way.
Our Mortgage Accelerator Program is a free service for fixed rate mortgages that offers a payment structure similar to a bi-weekly payment option. You can start or discontinue the program at will without the need or expense of refinancing your mortgage. To take advantage of MAP, please complete and return our MAP AutoPay form.
How MAP Works
- Every two weeks, one half of your regularly scheduled mortgage payment is automatically deducted from your HVCU checking or savings account and deposited into a specially marked savings account (your Mortgage Accelerator Program account).
- On the first of each month your payment is “swept” from your MAP account and applied to your mortgage payment.
- After your mortgage payment is paid, additional funds and dividends are applied to your outstanding principal balance. In essence, twice per year your principal is reduced by one half payment.
- You can also choose to increase your payments for additional interest savings on your mortgage. Deposits can be made to your MAP account at any time.
Please be advised that the fee charged by HVCU in connection with an appraisal of the property used to secure this transaction is NON-REFUNDABLE. Residential property values have experienced significant declines in recent years and may be subject to further decline. Any potential value discussed between you and HVCU at or prior to the time of application for a mortgage should not be construed as a formal estimate of value for the property being financed. A formal opinion of value will be conducted by a professional appraisal firm which operates independently of HVCU, and HVCU employees are expressly prohibited from discussing or influencing the appraiser’s opinion of home values in any way.
FREE Home Buyer Guide
Download our latest Home Buyer Guide for more information about the mortgage process including how much you need to save for a home, tips for buying in competitive market, an overview of your financing options, and much more. Whether you're just starting to save or plan to purchase a home in the near future, we hope you find it useful in your home buying journey.
What to Expect with an HVCU Mortgage
- Low mortgage rates
- Low down payment options
- Free pre-approvals
- Fast turnaround
- Low closing costs
- No mortgage pre-payment/payoff penalties
- In-house account servicing
- Local decisioning
Homebuyer Dream Program1 – Get Up to a $10,000 Grant to Help You Purchase Your First Home!
The Homebuyer Dream Program (HDP) is a grant program offered to eligible first time homebuyers that provides up to $10,000 on a first come first serve basis. Grant money can be used to pay up to $9,500 towards down payment and closing costs and $500 as credit towards an approved homeowner counseling program. This grant program is through the Federal Home Loan Bank of New York (FHLBNY). Learn more about the Home Buyer Dream Program.
Schedule of Mortgage Servicing Fees
Each county charges a satisfaction fee when you pay your mortgage in full and this fee will be passed on to you. Satisfaction fees range from $60.50 to $750.00 depending on the county in which the property is located. Your actual satisfaction fee will be determined at the time of the payoff and the property location.