Lowest Mortgage Rates in Long Island: November 2011

Falling home values across the country, as well as here in Long Island, are making today a perfect time to purchase a house at an affordable price. Even so, the cost of the property isn’t the only number you should factor into your decision. Mortgage rates in Long Island will also have a huge impact on how much you pay for your new home.

If you’re planning on home ownership, ensure you take the time to get the best possible mortgage rate first. We’ve compiled the local Long Island financial institutions with the very best interest rates on home loans right now. Find out if there’s a great deal near you.

Current Best Mortgage Rates in Long Island, NY

Different mortgage types are going to offer different mortgage rates, but no matter what type of loan you choose, there’s bound to be a great deal in Long Island. Below are the lowest mortgage rates offered by local Long Island lenders today for a variety of home loan types.

Best 15-Year Fixed Mortgage Rates in Long Island

• JPMorgan Chase Bank, National Association: 2.63%
• • No Orig. Fees
  • Points: 0.25


• Nassau Educators Federal Credit Union: 3%
• • No Orig. Fees
  • Points: 0


• Teachers Federal Credit Union: 3%
• • No Orig. Fees
  • Points: 0

Lowest 30-Year Fixed Mortgage Rates in Long Island

• JPMorgan Chase Bank, National Association: 3.5%
• • No Orig. Fees
  • Points: 0


• Bethpage Federal Credit Union: 4%
• • No Orig. Fees
  • Points: 0


• Teachers Federal Credit Union: 4%
• • No Orig. Fees
  • Points: 0

Top 3/1 ARM Long Island Mortgage Rates

• Nassau Educators Federal Credit Union: 2.13%
• • No Orig. Fees
  • Points: 0
  • Caps: 2% per Adjustment Period


• Wells Fargo Bank, National Association: 2.13%
• • Orig. Fees: 1%
  • Points: 0.88
  • Caps: 2% per Adjustment Period


• Teachers Federal Credit Union: 2.13%
• • No Orig. Fees
  • Points: 0
  • Caps: 2% per Adjustment Period

Best Mortgage Rates in Long Island for a 5/1 ARM

• Wells Fargo Bank, National Association: 2.25%
• • Orig. Fees: 1%
  • Points: 0.88
  • Caps: 2% per Adjustment Period


• Nassau Educators Federal Credit Union: 2.38%
• • No Orig. Fees
  • Points: 0
  • Caps: 2% per Adjustment Period


• Bank of America, National Association: 2.5%
• • No Orig. Fees
  • Points: 0.88
  • Caps: 2% per Adjustment Period

Ensure you confirm these interest rates with the lender before applying. Mortgage rates are accurate as of 11/01/11, but may change at any time. Further, you may be subject to additional requirements or credit approval in order to obtain the lowest advertised Long Island mortgage rate.