Log Into Online Banking
Header Image

Mortgages

Whatever your financial plan, Sunmark has home loan options that can help you reach your goals - whether you're buying, renovating, refinancing, or using your home's equity to complete other projects.


 Competitive Rates: Sunmark loves to save you money, and our mortgage rates are consistently below industry averages.
 Local Service: Our team is located in our Latham headquarters, and our underwriting, processing, and closing staff are all in-house.
 Fast Commitments: We'll have your mortgage commitment letter ready in 48 hours or less.
 Instant Preapprovals: Knowing how much house you can afford can make the search a little easier.
 
 

Check Out Our Specialty Mortgage Products

 Fixed Rate Mortgages

With a fixed-rate mortgage, you'll have the same interest rate and monthly payments throughout the course of the loan, making it easier to budget and plan.

Learn More

 Adjustable Rate Mortgages

Adjustable-Rate Mortgages (ARMs) offer a lower initial interest rate than a fixed-rate mortgage. The rate is fixed temporarily and then adjusts up or down depending on current rates or terms.

Learn More

 SONYMA Loans

State of New York Mortgage Agency (SONYMA) mortgages offer loan programs to assist first-time homebuyers with the purchase of a home in New York state.

Learn More

 FHA Loans

These loans are administered by the Federal Housing Administration (FHA), have a low 3.5% down payment, and can come from a family member, employer, or charitable organization as a gift.

Learn More

 VA Loans

VA loans are guaranteed and administered by the Department of Veterans Affairs. They are available to qualified individuals who have served in the armed forces.

Learn More

 Construction and END Loans

Sunmark offers loans with up to 100% financing available for new home construction. We offer both construction and end loans, depending on your needs and budget timeline.

Learn More

 100% Financing

Sunmark’s 100% Loan allows buyers the convenience of financing 100% of their mortgage in just one loan – with no down payment required!

Learn More

 2 Family Home Loans

Sunmark Credit Union provides borrowers who are looking to purchase a two-family home with more affordable options than the big banks!

Learn More

FAQ

We like the lower payments of a 30-year mortgage but would also like to build equity and pay off our home more quickly. Should we go with a 15-year mortgage instead?

If you’re having difficulty deciding between two mortgage terms, you might want to consider taking out a longer mortgage term to give your budget the flexibility of having a lower payment requirement — just in case — while still giving yourself the option of paying additional principal since there is no prepayment penalty. In general, mortgages with lower terms have lower interest rates making it possible to build equity in your home faster or save in preparation for retirement or a child’s education more quickly.

If we want to pay extra, do Sunmark mortgages have a prepayment penalty?

Sunmark mortgages have no prepayment penalty, so you can pay extra toward your principal any time you wish.

We’re saving for a down payment, but worry the right house will pass us by before we reach our goals. How much down payment is enough?

Sunmark has mortgage programs for credit-qualified individuals looking to finance up to 97% of their mortgage. If you’re just starting out or starting over and have limited funds available for a down payment, you may want to consider this option.

My home needs a major renovation. What is my best loan option?

Home renovation goals sometimes require more than one loan. If you’re looking to accomplish major home renovations, Sunmark has an answer: our home improvement loan

  • One application
  • One closing
  • One set of closing costs

What projects are allowed with a home renovation loan?

Accomplish your renovation ideas and create your dream home! A few ideas:

  • Add more living space
  • Remodel kitchens and bathrooms
  • Replace flooring, siding, gutters, roof and more
  • Upgrade heating and cooling systems, electrical and more

What is a VA loan? Who can qualify?

These loans are guaranteed and administered by the Department of Veterans Affairs and are available to qualified individuals who have served in the armed forces. If you’re a qualified veteran and wish to purchase a home, a VA loan may be right for you. For more information, check out the VA’s Home Loan Guaranty program online.

We’ve built up some equity in our home and would like to take advantage of today’s lower interest rates and get lower payments. What are our refinance options?

Homeowners choose to refinance their mortgages for a variety of reasons:

  • Lower interest rates
  • Take advantage of an improved credit rating
  • Debt consolidation
  • Home improvements

Sunmark can also refinance your first mortgage into a second mortgage if you have built up equity in your home. This means that we will pay off your first mortgage and roll it into a home equity loan in which Sunmark is the first lien holder.