125 North Fulton St. Ithaca, NY 14850
Phone: (607) 273-4611
Toll Free: (877) 273-AFCU      Contact

Home Loans Overview

"One could not deal with better folks - you made the process 'human.'"
- A Borrower

Alternatives' mission is to build wealth and create economic opportunity for underserved people and communities. Our focus is individual and community development. Each are accomplished through home ownership. In fact, our Credit Path® model culminates in ownership. We enhance ownership opportunity by offering a wide variety of home loans to meet the needs of our diverse membership. In addition to conventional mortgages at competitive rates and terms, we offer mortgage programs that serve people who might not otherwise be eligible for a mortgage, or who might fall into the trap of a predatory lender. Listed below is an overview of each mortgage we offer. In-depth information can be found on individual information sheets located at our kiosk in the lobby of the Credit Union, on our web page, or by scheduling an information interview with one of our mortgage loan officers.

APPLY ONLINE FOR YOUR MORTGAGE OR HOME EQUITY LINE OF CREDIT
Welcome to 
lendingstation.com where you can research our mortgage products, calculate payments, prequalify for a mortgage and track the process of your home loan application 24/7. 

CONVENTIONAL FIXED MORTGAGES
Conventional mortgages offer the lowest rates for 10, 15, 20 and 30 year home loans. This mortgage can be used for 1-4 unit residential properties. Owner-occupied 1-2 units requires a minimum 5% down payment or 10% equity for refinances. A higher down payment is necessary for investment properties. 

TEN YEAR SWING VARIABLE RATE MORTGAGE
This loan offers the security of a fixed interest rate for ten years with a 10% down payment. After ten years at a fixed rate, it becomes a one-year adjustable rate mortgage. This option is for purchases or refinances.
 

SEVEN YEAR ADJUSTABLE MORTGAGE
This loan offers the security of a fixed interest rate for seven years with a 10% down payment. After seven years at a fixed rate, it becomes a one-year adjustable rate mortgage. This option is for purchases or refinances.

FLEX-PLUS FIVE YEAR ADJUSTABLE MORTGAGE
This loan offers flexible qualifying terms with a minimum 10% down payment, low closing costs, and no private mortgage insurance. The rate on this loan adjusts every five years.

HOME EQUITY LINE OF CREDIT (HELOC)
Have funds available when you need them for home improvement projects or other needs using the equity in your home. There are no closing costs if you keep the loan open for 36 months. Interest rates are low. Your equity in the home must be at least 10%, including the proposed loan.
 

ENERGYWISE HELOC
Looking for ways to save money on home energy costs? We can help! Any energy efficiency-related work on your home 
qualifies you for Alternatives' EnergyWise Home Equity Loan. Minimum loan: $5,000.

No need to feel confused by our many choices. Our mortgage loan officers will help you plan the best course. Even if you're not quite ready to purchase, or you're not sure if you're eligible for a loan, we're happy to explore the possibilities with you. Schedule your information interview with one of our mortgage loan officers today! 

Contact our loan originators for your FREE consultation!

Brian Kunk-Czaplicki: 607-216-3409

Anna Detar: 607-216-3431
homeloans@alternatives.org

Or apply for your Home Loan right now at lendingstation.com


"My experience matches what I heard, that dealing with Alternatives would be easy, friendly, and accommodating."
- A Borrower

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