Mortgage Learning Center

Regardless of your Hudson Valley mortgage needs, TEG Federal Credit Union’s local lending experts provide exceptional service. They’ll go the extra mile to understand your situation and find the best financing solution for you.

Buying a home can seem overwhelming. You are bound to have questions about getting your home loan. We will answer your questions. Let us help you navigate the mortgage process step-by-step. Speak to a Mortgage officer today.

Pathway to Homeownership

Resources, Tools & Information

2nd Look Program

Let Us Take a Second Look and Get $100

If you are pre-approved by another lender, TEG would like the opportunity to provide you with our own pre-approval decision, so that you can compare, and to thank you for taking a second look we will give you $100.

Learn More about the Second Look Program

Mortgage Articles

Estimating Your Closing Costs

Mortgage & Home Loans   • Published 05/08/2024

Closing costs typically are about 3-5% of your new home’s purchase price. This amount may vary, however, based on your home’s location, cost and other factors.  Lenders are required to provide a Loan Estimate, which includes information about closing costs, within three days after you apply for a loan. Remember—this is just an estimate. Just… Read More »Estimating Your Closing Costs

Read more about Estimating Your Closing Costs

Navigating the Volatile Housing Market

Mortgage & Home Loans   • Published 02/12/2024

Should You Buy or Sell Now? The housing market is always changing, and in recent years, it has become more unpredictable. This has left many potential buyers and sellers wondering whether it is the right time to move. Factors Contributing to Housing Market Volatility Several factors have contributed to the recent volatility in the housing… Read More »Navigating the Volatile Housing Market

Read more about Navigating the Volatile Housing Market

How life events can change your housing needs.

Mortgage & Home Loans   • Published 02/12/2024

Are you contemplating buying a home this year? Taking such a significant leap forward is a crucial milestone. Life-changing events such as marriage, divorce, job opportunities, or just the desire for a better lifestyle often spur this decision. We’re aware that today’s economic climate and inflation worries may have you evaluating your living situation. Even… Read More »How life events can change your housing needs.

Read more about How life events can change your housing needs.

In a High Mortgage Rate Environment – What Are Your Options to Buy a Home?

Mortgage & Home Loans   • Published 09/15/2023

Buying a home is one of the most significant investments you’ll make. Low mortgage rates have made it easier for people to afford their dream homes over the last dozen years. In 2023, home mortgage rates have been soaring, causing problems for people who want to buy a house. While higher mortgage rates may discourage… Read More »In a High Mortgage Rate Environment – What Are Your Options to Buy a Home?

Read more about In a High Mortgage Rate Environment – What Are Your Options to Buy a Home?

What is an Adjustable-Rate Mortgage?

Mortgage & Home Loans   • Published 04/07/2023

What do I need to know about Adjustable-Rate Mortgages? An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that your monthly mortgage payment could go up or down over the life of your loan. ARMs are typically used by borrowers who plan to sell their… Read More »What is an Adjustable-Rate Mortgage?

Read more about What is an Adjustable-Rate Mortgage?

Renovation Loan

Mortgage & Home Loans   • Published 10/04/2022

The national trend of homebuyers seeking out properties in need of renovations has established a firm foothold in the Hudson Valley, where low inventory and a critically-low inventory of turnkey houses, have repositioned the market. As a result of these shifting sands, many homebuyers are pivoting and staking their claim in the American Dream by… Read More »Renovation Loan

Read more about Renovation Loan

What Happens During the Purchase Processing?

Not sure where to start?
Our Mortgage Officers are here to help.

We Do Business in Accordance with Federal Fair Lending Laws – Fair Housing Poster.

Home Mortgage Disclosure Act Notice – The HMDA data about our residential mortgage lending are available for review. The data show: Geographic distribution of loans and applications Ethnicity, race, sex, and income of applicants and borrowers Information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s website.