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Mortgage Learning Center

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Explore Our 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

Guides

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TEGFCU Homebuyer Guide
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Construction Loan Guide
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Renovation Loan Guide

Tools

Calculator Toolkit
Calculator
Toolkit
Document Checklist
Document
Checklist
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The Home
Loan Tool Kit

Resources, Tools & Information

Discover the latest mortgage rates and find the best option for you.

Join our First-Time Home Buyer Webinar for expert advice and tips.

Facing financial difficulties? Learn about your options.

Need to file a claim? Find out how to navigate the process smoothly.

With low fees, we keep your closing costs low. Find your dream loan.

Everything you need to know about Annual Percentage Rates.

See your options with financing with TEGFCU Mortgage Center

Have everything you need? Make sure with our Document Checklist.

A – Z Mortgage Terminology

Have questions? We have answers.

Learn about your home loan.

See what matches your budget.

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.

Mortgage Articles

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
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
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.
Rising Home Mortgage Interest rates
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?
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?
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

Know exactly what you qualify for!

Start searching for your new home, knowing the loan amount, interest rate, and monthly payment you could qualify for. Not only will you know what you can afford, but you’ll get a competitive edge since you’ll be able to make a solid offer when you find the right house.

Free Mortgage Pre-Approval

What Happens During the Purchase Processing?

Meet with the Loan Officer and get Pre-Approved

Shop for a House

Negotiate the Home Purchase Details

Complete the Full Mortgage ApplicationTest

Submit to Underwriting, Final Approval

Close on your Mortgage

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

Scott McNally headshot

Scott McNally

Mortgage Officer

NMLS# 1841508
Jeffrey Shields headshot

Jeffrey Shields

Mortgage Officer

NMLS# 1466211
Jessica Schoen headshot

Jessica Schoen

Senior Mortgage Officer

NMLS# 22486
Kevin Arduino headshot

Kevin Arduino

Mortgage Officer

NMLS# 2514289

Darren Dibenedetto

Senior Mortgage Officer

NMLS# 404038

Matthew Bannan

SENIOR MORTGAGE OFFICER

NMLS# 404022

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.

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