Mortgages FAQ

Mortgages FAQ

• Mortgage Tax and Insurance Contact Info

  Your tax documents can be mailed to Visions at: 

  Visions FCU
  24 McKinley Ave
  Endicott, NY 13760
  Attn: Mortgage Department

  You may also drop them off at any Visions office, fax to (607)444-8648, or email: mortgages@visionsfcu.org

   

  We have a mortgage for every stage of homeownership.

  Whether you want to buy your first home or your forever home, we have a wide selection of mortgage options for you. Visit our Mortgage page for more information or apply today!

  Looking for a Commercial Mortgage? Explore our business services.

• How can I close my escrow account?

  An escrow account can only be closed if the following requirements are met:

  • There have been no late payments within the last 12 months
  • The current loan to value ratio (LTV) is 80.0% or less

  To begin the account closure process, contact Visions Mortgage department at 800-242-2120 ex 10269.

• What is an escrow account?

  An escrow account is an interest-bearing account used for making payments on your behalf – generally for mortgage-related expenses and taxes. With each monthly mortgage payment, money is deposited into an escrow account for taxes, homeowners insurance, and mortgage insurance. When taxes and insurance are due, the mortgage department draws from the account for payment to the tax agency and insurance companies.

  Each year in March, Visions completes an escrow analysis on each Visions mortgage. Escrow is changed based on current tax payments and the mortgage payments are then adjusted accordingly. The new payment with the adjusted escrow should appear with the May payment. Analysis documentation is mailed prior to the payment change which explains any payment changes.

• Should I notify Visions if my insurance company changes?

  We accept coverage from most homeowner's insurance companies. If you choose to replace your current coverage, please send your replacement policy, along with your written authorization, to Visions at:

  Visions FCU
  24 McKinley Ave
  Endicott, NY 13760
  Attn: Mortgage Department

  You may also fax the documentation to 607-786-4869, or email it to mortgages@visionsfcu.org.

• For which geographical areas does Visions offer mortgages?

  Visions mortgage lending area includes homes purchased in the following counties:

  New York State
  Broome	Madison	Schuyler
  Cayuga	Monroe	Seneca
  Chemung	Onondaga	Steuben
  Chenango	Oneida	Tioga
  Cortland	Ontario	Tompkins
  Delaware	Orange	Wayne
  Dutchess	Orleans	Westchester
  Greene	Oswego	Wyoming
  Jefferson	Otsego	Yates
  Livingston	Rockland

  Pennsylvania
  Bradford	Lancaster	Pike
  Berks	Lebanon	Schuylkill
  Carbon	Lehigh	Susquehanna
  Chester	Monroe	Tioga
  Cumberland	Montgomery	Wyoming
  Dauphin	Northampton	York

  New Jersey
  Bergen	Middlesex	Somerset
  Essex	Monmouth	Sussex
  Hudson	Morris	Union
  Hunterdon	Passaic	Warren

   

  We have a mortgage for every stage of homeownership.

  Whether you want to buy your first home or your forever home, we have a wide selection of mortgage options for you. Visit our Mortgage page for more information or apply today!

  Looking for a Commercial Mortgage? Explore our business services.

• What do I need to apply for a mortgage purchase or refinancing with Visions?

  For a Mortgage Purchase, you will need the following:

  • Your current residence address, or addresses, for the past two years
  • Social security numbers for all borrowers
  • Your employment history for the past two years. You'll need your employer(s) name, address and phone number
  • Income information for all borrowers. You'll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income
  • The price of the home you are buying, and how much you'd like to borrow toward the purchase
  • The address of the property you are planning to purchase
  • Bank and brokerage account information, including the institution name and current balances
  • If you own any real estate, we'll have some basic questions including, address, current market value, the amount you owe, the rental income you receive (if any), and what your monthly payment is
  • Information about your current debts. We'll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment

  For a Mortgage Refinance, you will need the following:

  • Your current residence address, or addresses, for the past two years
  • Social Security number for all borrowers. 
  • Your employment history for the past two years. You'll need your employer(s) name, address and phone number
  • Income information for all borrowers. You'll be asked to include salary, overtime, bonuses, commissions, interest/dividend, retirement income and any other regular source of income
  • The year you purchased the property being refinanced, its original cost, current loan balance and payment amount
  • Bank and brokerage account information, including the institution name and current balances
  • If you own any real estate (other than the property you're refinancing), we'll have some basic questions including, address, current market value, the amount you owe, the amount of rental income you receive (if any), and what your monthly payment is
  • Information about your current debts. We'll ask for the name of the creditor, the account number, the current balance owing and the amount of your monthly payment

  Please note: Based on the type of refinance, some or many of the items on this checklist may not be necessary. Mortgage requirements are subject to change.

• How do I view my mortgage details and transaction history in digital banking?

  To view your mortgage details and history in digital banking:

  • Log into your Visions account and select your Mortgage
  • Next, select the "Details & Settings" menu located next to "Transactions"  
  • Scroll down the page and select "Click Here for Mortgage Details", which will open a new tab with menu options to access your mortgage information