Teachers Federal Credit Union of Long Island, New York is advertising several different types of mortgages with some of the best mortgage rates currently available these days. The credit union is advertising fixed rate conforming mortgages, conforming jumbo mortgages and jumbo mortgages. The credit union is also offering adjustable mortgages, interest only mortgages, Co-op mortgages, an “Interest First Mortgage,” a “Flex-97 Fixed Rate Mortgage” as well as a few other types of mortgages.

Conventional fixed rate mortgages are available in terms of 10 years, 15 years, 20 years, 30 years and 40 years. These mortgages are available with up to 95% financing. Following are the credit union’s current mortgage rates.

Conventional Fixed Mortgage Rates

• 10 Year Mortgage Rate 4.125%
• 15 Year Mortgage Rate 4.250%
• 20 Year Mortgage Rate 4.750%
• 30 Year Mortgage Rate 5.125%
• 40 Year Mortgage  Rate 5.250%

Conventional Adjustable Mortgage Rates

• 1 Year Adjustable Mortgage Rate 2.500%
• 3/1 Adjustable Mortgage Rate 3.250%
• 5/1 Adjustable Mortgage Rate 4.000%
• 7/1 Adjustable Mortgage Rate 4.375%
• 10/1 Adjustable Mortgage Rate 4.875%

Conforming Jumbo Mortgage Rates

• 15 Year Conforming Jumbo Mortgage Rate 5.500%
• 30 Year Conforming Jumbo Mortgage Rate 6.375%

Jumbo Mortgage Rates

• 15 Year Jumbo Fixed Rate 5.500%
• 30 Year Jumbo Fixed Rate 6.375%

Jumbo Adjustable Mortgage Rates

• 1 Year Adjustable Rate Mortgage 3.125%
• 3/1 Year Adjustable Rate Mortgage 3.875%
• 5/1 Year Adjustable Rate Mortgage 4.625%
• 7/1 Year Adjustable Rate Mortgage 5.000%
• 10/1 Year Adjustable Rate Mortgage 5.500%

Interest Only Mortgage Rates

• 10 Year Interest Only Mortgage Rate 5.750%
• 15 Year Interest Only Mortgage Rate 5.750%

For information on the requirements to join Teachers Federal Credit Union and a list of current mortgage rates visit teachersfcu.org.