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Real Estate Loans
At Nassau Financial, we understand the thrill and importance of finding, buying and owning a home. It's not only the "American Dream," a place where families are raised and memories are made, but also a sound investment for the future.
This is where we can help, by offering a variety of First Mortgage options. And, for when you might need cash in years to come, you can tap into the equity your home builds up and apply for one of our Home Equity Loans or Home Equity Lines of Credit. These financing options are perfect for when you might wish to add a pool, make home improvements, pay for a college education or consolidate debt.
With membership* at Nassau Financial, your dreams are within reach. View our current rates.
First Mortgages
Flexible and Convenient
Our First Mortgages** feature flexibility to fit your budget and convenience to suit your lifestyle. Our Fixed Rate mortgages offer competitive rates and terms of 15, 20 or 30 years, with or without points. The Adjustable Rate mortgage is set at a 30 year term with a choice of a rate adjustment annually or every 5th, 7th, or 10th year - also, with or without points. And, if you should wish to make home improvements right away, consider applying for our Home Equity loan at the same time you apply for the First Mortgage. As with any mortgage, the interest may be tax deductible; consult with your tax advisor.
Personalized Application Process
Applications are taken in person by our Senior Personal Service Representatives during lobby hours; please visit one of our branch locations.
Access Your Mortgage Account Information
Members with a first mortgage from us and CUC Mortgage can access their current account information such as balances, payments, statements and more. First time users will need to register for this service. Click here.
Home Equity Loan
If you own a home, you can put its equity to work for you should you need funds for any worthwhile purpose. With our Home Equity Loan,† you may borrow up to 85% of the appraised value of your primary residence, minus any liens, at a low fixed APR (annual percentage rate) and repayment terms of 5, 10 or 15 years. If you choose to pay off the loan before the term is up, there is no prepayment penalty. And, the interest may be tax deductible; consult with your tax advisor.
Home Equity Line of Credit
Our Home Equity Line of Credit is here to help you take care of your home and family. Expand, redecorate, consolidate debt, or even pay for college tuition. We're offering a six month fixed introductory rate of just 4.00% APR††† and another great rate after that as low as 4.00% APR. There are no application fees, closing costs, or annual fees. Our Personal Service Representatives are available to answer your questions and take your application. Call 516-742-4900.
Reverse Mortgages
Nassau Financial is now offering reverse mortgages through an alliance with Advanced Funding Solutions Inc.
Reverse Mortgages are federally insured loans that were specifically created to help homeowners 62 years of age and older stay in their homes. Through a reverse mortgage, seniors can use the equity in their home to pay off debts, taxes, provide home care, fund home improvements, increase cash flow, or for any other reason. In a reverse mortgage, the title remains in your name and the proceeds are not taxable. Credit is not a factor. The program is insured by the Federal Housing Authority and if you sell your home, the remaining equity is yours to keep.
Many seniors are struggling with the increased costs of maintaining their homes. Their expenses are increasing and their retirement income is not keeping up with the cost of living. For those who want to stay in their home, a reverse mortgage may be the answer.
If you would like more information regarding a reverse mortgage, call 1-888-704-0268 to speak with a Representative.
*Savings account must first be opened with a minimum deposit of $5 before applications can be made for any Real Estate loan.
**All Real Estate loans subject to credit approval. Mortgage amount determined on appraised value of property and down payment. Cooperative properties do not qualify for Nassau Financial Real Estate Loans. Mortgages underwritten by a third party provider and are available for primary residence in New York State only.
***Application fees may apply.
†Subject to credit approval. Loan minimum is $5,000; loan maximum is $250,000. Cooperative properties not eligible. Additional conditions and application fees may apply; ask a Personal Service Representative for details.
††Subject to credit approval. APR is the prime rate as determined monthly by the Wall Street Journal, adjusted monthly. Cooperative properties not eligible. Additional conditions apply; ask one of our Personal Service Representatives for details.
†††New loans only, subject to credit approval. After six months, rate will be based on The Wall Street Journal Prime Rate less .50% for life of loan, adjustable monthly, lifetime cap of 18%APR, lifetime floor of 4%APR. Applicants not approved at these rates or terms may be offered credit at higher rates and/or different terms. No closing cost option requires $40,000 advanced at closing and line must remain open for four years. Speak to one of our Real Estate Representatives for full details. Existing borrowers, please contact us for information on how you can also take advantage of this offer. Different terms and conditions apply.
