Carthage Savings Blog

If you’re ready to purchase a home, it’s easy to assume that going through a national bank or lending company is the only way to go. But there are actually many benefits to getting your mortgage through your local community bank, which is why so many residents of Northern New York finance their home purchase through Carthage Savings and Loan. Here are just a few of the major advantages to keeping your mortgage in your neighborhood.

More Affordable Services

Why pay more for the same service elsewhere? Some consumers think that only larger institutions can offer competitive rates, but this simply isn't the case. National data shows that smaller financial institutions like Carthage Savings and Loan offer lower interest rates on average than many large banks and commercial lenders. And while these types of firms are likely to sell off your loan for a profit, there's a much higher chance that your mortgage will be serviced in your hometown when you choose a community bank.

Face-to-Face Convenience

One major advantage of a community bank mortgage is easy access to your loan officer. Whether you stop by for a meeting or place a phone call, you won’t have any hoops to jump through to speak with the right person. It makes home financing through your community bank less complicated than relying on busy customer service lines or email systems. The mortgage application process can be tricky, so having somebody right around the corner who can answer any of your questions gives you peace of mind that you’re in the right hands.

Locally Made Decisions

Community banks have a level of understanding about the needs of their customers that larger banks and mortgage lenders simply do not. By opting for a local bank, your loan approvals are made by local financial experts who live in the community and utilize their personal knowledge of the area in their decision-making process. Because of their local connections, community banks may even be able to approve loans that bigger organizations typically deny.

Several Services Under One Roof

Another benefit to financing your mortgage through a community bank is easy access to the other financial services you utilize on a daily basis, like your checking and savings accounts. You can also work with a financial expert to set up long-term investment accounts alongside your mortgage so you don’t fall off track in saving for retirement or having capital for other expenses. You may even find yourself looking for a home equity loan or home equity line of credit down the road, and for added convenience, your local bank already has your information on record and may pre-approve you for credit or other types of accounts.

Choose a Bank that’s Committed to Your Community

Whether you're buying your first home, looking for a bigger house or downsizing, Carthage Savings and Loan can provide the mortgage loan that's best suited to your needs. Contact us today to learn more about our current rates and all the different mortgages we offer, including adjustable and fixed-rate options and FHA and VA loans. Ready to apply? Fill out a pre-approval applicationonline to