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Mortgage Loans

Affordable Home Financing

Meet Our Mortgage Originator: Jaime

Jaime Buley is a staple in our community and has an absolute wealth of knowledge when it comes to mortgages. 

Get To Know Jaime

Meet Our Mortgage Originator: Tony

Tony Fumarola a seasoned mortgage expert dedicated to finding tailored solutions for each individual, no matter their circumstances. 

Get To Know Tony

First Source offers standard home loans as well as our own specialized mortgage programs. We have a systematic process we’ve developed to make your experience easy and smooth, communicating at each milestone along the way.

Woman hugging man and holding home keys.

Types Of Mortgages Available

There are three standard mortgage loan categories to which all mortgages fall under. Rates are generally very similar for each of these options.

 

Conventional Mortgage

A Conventional Mortgage often requires a minimum of 5% down and can be a good choice for those with good credit ratings.

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​Government Federal Housing Administration (FHA)

An FHA Mortgage can be a better option if you have less-than-perfect credit and may need more assistance with closing costs. A lower percentage is required for a down payment, and the seller has a higher percentage option for concessions.

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Government Veterans’ Assistance (VA) Loan​

A VA Mortgage is a specific home financing option available for veterans only, allowing for 0% down. Your DD214 and Certificate of Eligibility are required.

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Mortgage Smarter: Find the mortgage that works for you.

First Source Specialized Mortgage Programs

First Source also offers tailored mortgage programs for first-time home buyers and for those who serve our community.

Community Heroes Program​**

If you are in a professional or support role in the fields of Education, Law Enforcement, Healthcare, U.S. Military (active-duty or veteran), or Fire & Rescue (full-time or volunteer), you can get up to $450 in cash/discounts toward your home purchase.

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Home Possible Program***

Our Home Possible Program is a cost-effective mortgage option available to first-time home buyers. This program offers a unique set of benefits that may be a great fit for you.

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Medical Professional Mortgage Program

For borrowers actively practicing in a medical field, this program ensures that certain student debts are not considered when qualifying for a mortgage, making homeownership more accessible.

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Mortgage Refinancing​

Refinancing options are available for those looking to replace their current loan, lower their interest rate, and reduce mortgage payments. This can help save thousands over the life of your mortgage.

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Mortgage Checklist

As you prepare to speak with one of our Mortgage Specialists, we recommend downloading our handy Mortgage checklist. This guide will help you gather and organize the paperwork you’ll need to start the mortgage process.

Download Our Checklist

Live Smarter

Every situation and home is unique. We look forward to working with you on your specific need for affordable home ownership.

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Mortgages can be complex. We make them easy. If you’re not ready to apply for a Mortgage loan just yet, you might want to have a call with one of our Mortgage Team representatives first. We’ll walk through the process, ask you some clarifying questions, and answer your questions.

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Let’s Get Started

We look forward to helping you.

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Diana’s experience getting a new mortgage shows why choosing the right lender can make all the difference.

Mortgage Loans

Check today’s mortgage loan rates effective April 20, 2025

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*Annual percentage rate
Mortgages in New York State only. Information is based on a loan amount of $160,000, credit score above 740, and loan-to-value at or below 60%. Your actual annual percentage rate may be different. All rates are subject to change without notice.

If an escrow account is required or requested, the actual payment will also include amounts for real estate taxes and homeowner's insurance premiums.

Rates are based on a purchase or no cash out refinance, cash out options may affect your rate.

What's New

Get Your Free Financial Checkup At Our Kellogg Road Branch
First Source Announces Additional Key Senior Leadership Appointments
First Source Announces John Calabrese As Next President/CEO
Membership and credit requirements apply. Rates and terms determined by overall credit history and subject to change. Equal Housing Lender.

***Mortgage Programs are offered by Homeowners Advantage (HOA). Mortgages in New York State only. Home Loan interest may be tax deductible. Consult your tax professional about deductibility in your situation. HOA is a Licensed Mortgage Banker-NYS Department of Financial Services. HOA NMLS identifier: 309847. Principal Address: 4 Winners Circle, Albany, NY 12205.

**Mortgage products are offered by Homeowners Advantage through First Source Federal Credit Union. Full disclosures and terms will be provided during Community Heroes Mortgage Program consultations. The summary below is not all-inclusive. Mortgage is restricted to the primary residence (purchase only) located in NY State.

First Source credit and membership eligibility requirements apply. A First Source checking account with payroll direct deposit and automatic mortgage payments is required. The $250 deposit will be made to the program participant’s First Source checking account within 30 days of the closing, upon verification of all eligibility requirements. Personal real estate attorney fee waiver is a $150 credit, not redeemable as cash. Discounted home inspection fee is set by the inspector based on square footage, and not redeemable as cash. You are not required to use the program service provider(s) as a condition of the purchase of the subject property. You may use an alternative provider offering a similar service; however related discounts and other savings will not be available to you.

Proof of employment in healthcare, education, law enforcement, fire and rescue, U.S. military, or veteran status is required to be eligible for the Community Heroes Mortgage Program.