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Mortgage FAQs


Frequently Asked Mortgage Questions

Thinking about applying for a mortgage through North Country Savings Bank but not sure where to start? These common mortgage questions will help guide you through the first stages of the process. Don't see your question answered here? Stop by any of our branches to talk with a banker or loan expert who can help answer questions about your unique financial situation. 

If you're planning to buy your first home, check out our common questions for first-time homebuyers and information about the First-Time Homebuyer Grant.

There are several ways to apply for a mortgage through North Country Savings Bank:

  • In a meeting with a loan originator at one of our convenient banking locations throughout St. Lawrence County, Franklin County, Clinton County, Essex County, Hamilton County, Warren County, and Washington County. No appointment is necessary.
  • At one of our branches in the EagleNet Café using our Eagleview video conferencing
  • Apply Online

There are no fees or obligations when you fill out our online mortgage application.

We offer several types of construction loans for contractors and self-builders. These can include loans for modular homes, manufactured homes, single and double wide homes. Contact a loan expert if you are interested in one of these loans.

We have two basic options available, an open-ended line of credit and a closed-end mortgage. Both involve a lien on the property. The basic difference is the manner in which the funds are accessed and repaid.

The home equity line of credit allows the borrower to draw the loan funds as needed, as well as re-borrow from the principal at a later date during the open-end phase of the loan.

The closed end option requires the funds to be drawn by the borrower at the time of closing and monthly payments are established at that time for repayment. This form of home equity loan does not provide for any future use of the repaid funds for the borrower.

Typically a 20% down payment is required, however you can apply with as little as 3% with Private Mortgage Insurance (PMI) coverage.

We'll ask you to provide a copy of the settlement or closing statement of your current home to verify that mortgage has been paid in full.

Our mortgage rates are good for 90 days from the day of application. If your mortgage closing is delayed past 90 days, the rate may change.

North Country Savings Bank has a variety of loans including No Closing Cost options. Our loan experts can help you determine if you are eligible.

Automated monthly payments are available and encouraged. Enrolling in this program means you’ll never miss a payment because the money is withdrawn at the same time each month.

North Country Savings Bank does not have any prepayment penalties.

Our interest rates are very competitive and in some cases, home-buyers qualify for a rate discount. Contact a loan expert to find out if you qualify.