If you are looking to purchase a new home or refinance your current home loan, you should talk to the experts at State Bank of Long Island.

We offer a wide range of mortgage products including:

Fixed Rate Mortgage. Benefit from a low rate and the security of a stable, fixed mortgage payment, regardless of rising interest rates.

Adjustable Rate Mortgage (ARM). ARMs provide a fixed payment during the early years of a mortgage. After the fixed introductory period, the interest rate and payment will adjust annually based on the current market index plus margin.

JUMBO Mortgages. A JUMBO Mortgage is a mortgage for a loan amount greater than the conforming conventional loan limits.

No-Income / No-Asset Programs. These programs are ideal for individuals with a fluctuating income history, such as the self employed and commissioned borrowers.

Interest-Only Mortgages. Benefit from low payments during the initial “interest-only” period. After the “interest-only” period, the loan will convert to payments of principal and interest amortized over the remaining life of the loan.

Extended Rate Locks. Our extended rate locks for 180, 270 or 360 days, with a 3/1 Adjustable Rate Mortgage (ARM), offers homebuyers the security of a low, affordable rate. In addition, homebuyers will have the flexibility to change the ARM to a Fixed Rate, prior to or after closing. An extended rate lock fee is required, but will be credited toward closing costs.

State of New York Mortgage Agency (SONYMA) Mortgages available. As an approved SONYMA Participating Lender, State Bank offers a variety of affordable mortgage financing programs. SONYMA is a New York State Agency dedicated to creating homeownership opportunities for New Yorkers with low- and moderate-incomes. For more information, visit www.nyhomes.org

We recognize that every homebuyer is different and we will work with you to determine what options best meet your needs. To contact a Mortgage Consultant, please call 516-465-2300. Our Mortgage Consultants can assist you by phone or in-person at your home or office.

Ask us about our home equity loans and line of credit. It may be the most cost efficient way for you to finance long term borrowing needs such as education, home improvements or a second home. Click here for more information.

To request information on these or any of our consumer products, click here. We also invite you to visit one of our branches and talk to a customer service representative.