I’m Here To Help You
Are you considering purchasing, refinancing, renovating, or building a new home? I understand that home financing is one of the biggest decisions you will make in your life. I’ve been providing loan origination services in the Hudson Valley for over 20 years, and I’m confident that I can help you find the best products and programs to fit your needs. Whether you are a first-time homebuyer, a veteran, or interested in FHA products, new construction, construction to perm loans, renovation loans, conventional loans, or portfolio loans, TEGFCU has all the programs and products you need to achieve your home financing goals. With no junk fees and competitive interest rates, TEGFCU also offers in–house processing and underwriting. See me in our Newburgh office today!
Career Highlights
- 20+ Years of Mortgage Experience in the Hudson Valley
- 7+ Five-Star Reviews on Zillow
Contact Matthew
Download my e-Business Card here!
Why Choose TEGFCU for Your Mortgage?
There’s no place like home. There’s no place like the Hudson Valley. And there’s no place like TEGFCU for your mortgage. We know that everyone’s needs are different when it comes to home financing. So, whether you are looking to purchase a primary residence, second home, or investment property or refinance to a lower rate, we will go the extra mile to find the best possible financing solution that is right for you.
We’re proud to be local, member-owned, and not-for-profit. When you buy your dream home, you can feel confident you’re getting a competitive interest rate from us. We believe that making a mortgage affordable means not surprising you with extra closing costs like some other lenders. Compare our closing cost to theirs.
Discover the TEG Difference – our friendly, knowledgeable people. Our mortgage officers are here to answer any questions and help you through every step of what can be an intimidating process. We want you to enjoy the experience of finding the perfect home. Buy with confidence today and have peace of mind knowing that your loan will close quickly and easily.
Conventional Mortgage & Refinance Rates
| Mortgage Type | Rate | APR* | Points |
|---|---|---|---|
| 30 Year Fixed | 6.500% | 6.640% | 0.875% |
| 20 Year Fixed | 6.250% | 6.431% | 0.875% |
| 15 Year Fixed | 6.250% | 6.417% | .500% |
APR = Annual Percentage Rate. Rates effective as of 06/26/2024. All loans are subject to approval. APR assumes a $300,000 loan amount with escrows a FICO score of 760 or higher for a loan for an owner-occupied (primary residence), single-family dwelling in New York State with a loan-to-value ratio of 75% or less, and no cash-out.
For example, a 30-year, $300,000 conforming mortgage with a fixed APR of 6.627% has an approximate payment amount of $1,896.20. Real estate taxes, insurance, and private mortgage insurance (if applicable) are not included; therefore the actual payment obligation will be greater. Your rate may vary based on your creditworthiness, loan amount, purpose, property type, occupancy, LTV, lock period, and other credit characteristics.
All rates and terms are subject to change without notice. No rate is guaranteed without a valid rate lock. A point is equal to 1% of the loan amount’s balance. Private mortgage insurance (PMI) is required on mortgages that exceed 80% loan-to-value (LTV). When refinancing, the maximum loan-to-value is 80% if you take cash out. Contact a TEG Mortgage Officer for further details. Other terms and conditions may apply.
Adjustable-Rate Mortgage (ARM) Rates
| Mortgage Type | Rate | APR* | Points | First Cap | Subsequent Cap | Lifetime Cap |
|---|---|---|---|---|---|---|
| 5/6 SOFR ARM | 5.750% | 7.006% | 0.875% | +/- 2.00% | +/- 1.00% | +/- 5.00% |
| 10/6 SOFR ARM | 6.000% | 6.683% | 0.875% | +/- 5.00% | +/- 1.00% | +/- 5.00% |
APR = Annual Percentage Rate. Rates effective as of 06/26/2024. All loans are subject to approval. APR assumes a $300,000 loan amount with a FICO score of 760 or higher for a loan for an owner-occupied (primary residence), single-family dwelling in New York State with a loan-to-value ratio of 75% or less. Rates on 5/6 ARMs are fixed for the first five years and subsequently subject to change bi-annually. Rates on 10/6 ARMS are fixed for the first ten years and subsequently subject to change bi-annually.
For example, a 5/6 ARM at a fixed initial interest APR of 6.994% would initially be $1,750.72 or a 10/6 ARM at a fixed initial interest APR of 6.672%, would initially be $1,798.65, with each loan adjusting every six months after the initial term based on an index and margin. Real estate taxes, insurance, and private mortgage insurance (if applicable) are not included; therefore, the actual payment obligation will be greater. After the initial fixed term, rates will adjust based on the index, Secured Overnight Financing Rate (SOFR), and a margin. Your rate may vary based on your creditworthiness, loan amount, purpose, LTV, lock period, and other credit characteristics.
All rates and terms are subject to change without notice. No rate is guaranteed without a valid rate lock. A point is equal to 1% of the loan amount’s balance. Private mortgage insurance (PMI) is required on mortgages that exceed 80% loan-to-value (LTV). Contact a TEG Mortgage Officer for further details. Other terms and conditions may apply.
Mathew Bannan was the best I couldn’t have asked for more completely upfront with us and walked us through every step of the process made it simple and easy for us to understand and our loan was completed.
Matt and TEGFCU staff helped us with everything we needed and we greatly appreciate him. As first-time home buyers all our questions were answered promptly with no problems and highly recommend their services.
Great lender and extremely helpful. Matt made the process of getting a home equity line of credit simple and easy to navigate. TEG’s closing process was quick and efficient. Totally satisfied customer. I Will recommend to all my friends and associates.
If you are applying for a mortgage, look no further than Matt Bannan and his team. The mortgage process is assumed to be terrifying and unapproachable, but with Matt’s guidance and reassurance, he makes it simple to understand and approachable. He was in constant communication with us throughout the entire pre-approval process through signing our closing papers. Matt goes above and beyond for his clients and truly wants what is best for them, which is refreshing in this day and age. There is no one better to assist you with a mortgage. You will be happy you reached out to him.
Mortgage Resources
First-Time Home Buyers Webinar
First Wednesday of Every Month at 5:30 PM. Attend virtually and receive $500 OFF closing costs!
2nd Look Program
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.
Download our Free Guide
Get “The Comprehensive Guide to Finding, Buying and Financing a Home”. Learn how to get started and discover everything you need to know to help you buy a place you love – with a payment you can afford.
Mortgage FAQs
Have questions? We have answers.
Apply for a TEGFCU Mortgage
To apply for a mortgage, you must either be a current member or become a member before closing. Membership is open to anyone (and their immediate families) who lives, works, worships, or attends school in Dutchess, Orange, Ulster, Putnam, Rockland, Sullivan, and Westchester County, NY with an initial $5 deposit, as well as Members of the Dutchess County SPCA or Child Care Council of Dutchess and Putnam Inc which are headquartered in our field of membership. Also, if you are purchasing a primary residence in one of these counties you are eligible for membership.
When we come together, everyone grows.
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.
