Home Loans

Cooperative Federal has been Syracuse's local mortgage lender since 1986, offering mortgages for purchase, refinance, construction, and home improvement for owner-occupied and investment properties. Whether you're a first-time homebuyer or just looking for a better lender, our non-profit credit union can work with you to find the right home loan.

Service Area:
We generally limit mortgage lending to the Greater Syracuse region. Learn more about who can join Cooperative Federal.

Get the resources you need to make homeownership attainable. We specialize in supporting first-time homebuyers, especially those with low & moderate household income.

  • Homebuyer Dream Grants - Down payment assistance grants for eligible first-time homebuyers.
  • HUD Housing Counseling - Free advising from certified counselors to help you qualify for a mortgage and understand the homebuying process. You can also work with our advisors after buy a home to get guidance on financial management and home maintenance.

Our mortgage specialists will help you choose what type of mortgage is best for your situation.

  • Fixed Rate Mortgages have interest rates that stay the same over the life of the loan. This is a good fit if you plan to live in your home for many years.
  • 5/1 Hybrid ARMs (Adjustable Rate Mortgages) have fixed interest rates for the first five years then adjust annually, up or down, depending on the current market. We have caps on how much the rate can adjust each year. An ARM can offer a lower initial interest rate and monthly payment than a fixed-rate mortgage. It can be the most affordable option for many first-time buyers or homebuyers who plan to move again after a few years.
  • FHA Mortgages allow for low down payments and have relaxed qualification guidelines.
  • VA Loans provide special mortgage terms for veterans and active-duty military personnel.
  • USDA Mortgages are available for low and moderate-income households in select areas.

In addition to our in-house mortgages, Cooperative Federal helps members obtain home loans through our partner companies. Owners Choice is a mortgage company founded by credit unions to serve credit union members. When you work with our partners, you're still working with Coop Fed - and you’re supporting our economic justice mission. We're always here to assist with questions or issues.

  • Paystubs for the last 1 month (consecutive pay periods)
  • Tax returns for the 2 most recent years
  • Bank statements for the past 2 months

You can submit these documents with your application or bring them when you meet with a Mortgage Specialist.

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All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. Contact us for current rates, terms, and conditions.