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Lindley, NY New Home Financing in New York

Somerset Investors Corp. can find Lindley, NY residents the perfect loan and start your home purchase off right. With hundreds of loan programs available, we’ll help Lindley, NY residents match your needs with a loan you’ll love for as long as you own your home. Somerset Investors Corp. can find Lindley, NY residents the perfect loan and start your home purchase off right. With hundreds of loan programs available, we’ll help you match your needs with a loan you’ll love for as long as you own your home.

Fixed Rate Loans

Several categories of conventional loans exist, the most common and familiar being the fixed rate mortgage. In the cases of fixed rate mortgages, the borrower will lock in an interest rate, and pay down both the principal and interest on the loan at that interest rate every month until the mortgage is paid off. The most typical term of a fixed rate loan is 30 years, though fixed rate mortgages can also be obtained for much shorter terms, the primary difference being in the size of the monthly mortgage payment.

Conforming Loans

Other conventional loans are known as conforming loans. In these cases, an arrangement is made between borrower and lender that comply with the stipulations of two federally run mortgage trading companies (or Government Sponsored Entities - GSEs) Fannie Mae (FNME) and or Freddie Mac (FHLMC).

Fannie Mae and Freddie Mac do not directly approve or deny loans. They buy and sell home mortgages, working with lenders to make home ownership easier for people to attain. Lenders like to sign up borrowers with conforming loan, because they can then sell these loans to Fannie May or Freddie Mac in order to more quickly receive the funds coming to them, and use those funds to make other investments. Fannie Mae and Freddie Mac, in turn, then repackage these loans to sell to investors as securities.

The current guidelines for a conventional Fannie Mae loan set a maximum purchase price for a single-family home at slightly above $415,000 (though residents of Alaska, Hawaii, or Guam may be able to qualify for an even larger loan).

The interest rate as well as the short- and long-term pricing on a conforming loan is determined primarily by the type of loan applied for. Also taken into consideration will be the amount of funds you already have to contribute to closing costs, your credit rating, credit score, and credit history, your employment history, and the type and location of the home in question.

Jumbo Loans

Other forms of conventional loans are nonconforming loan instruments that do not meet Fannie Mae or Freddie Mac loan qualifications, such as jumbo loans, or loans so large they fall outside the Fannie Mae and Freddie Mac loan limits (or purchase limits). Jumbo loans are provided by private investors and as such ordinarily come with much higher interest rates than conforming loans.

FHA Loans

Government entities from a local to a federal level and private entities alike have worked to develop loan programs that make home ownership a reality for many people considered under-qualified for traditional mortgages. These include loans for first-time homebuyers and people with a low-to-moderate income that are insured by the Department of Housing and Urban Development (HUD) via the Federal Housing Administration (FHA).

HUD and the FHA do not make loans directly, rather they insure loans, meaning that the lender still gets paid back even if you default on the home loan. Often, FHA insured loans are available with d

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Lindley, New York News
New Bypass Affects Small Town Business

The bypass opened last month. Now, high way traffic no longer goes through communities like Lindley and Lawrenceville and people are already describing the down towns as ghost towns.


Staten Island mob mistress won't face perjury rap

Linda Schiro walks to her Tottenville home last November. A special prosecutor in New York has decided against bringing perjury charges against a Staten Island mob mistress suspected of lying on the witness ...


Police Seize More Than 200 Pot Plants In Lindley

New York State Police say they seized more than a quarter million dollars worth of marijuana plants on private property in the Steuben County Town of Lindley.


State police confiscate 200 pot plants

New York State Police report they have confiscated 200 marijuana plants in the town of Lindley during a helicopter surveillance effort.


Driver to face manslaughter charge

Prosecutors will file felony vehicular homicide charges against a Tioga, Pa., man involved in a Sept.


New Route 15 Project in Lindley Make Road Safer?

The New York Department of Transportation is trying to make a notoriously dangerous section of route 15 safer for you, but for one man, whose already lost a spouse on Route 15, the safety improvements don't go ...


Man held in fatal crash

LINDLEY -- A Tioga, Pa., man charged with assault following a four-vehicle accident Saturday night may face more serious charges after one of the other drivers, a Wellsboro woman, died of her crash injuries ...


Man In Custody Following Fatal Crash in Lindley

Police arrest a Tioga County, Pennsylvania man in connection with a fatal car accident in Lindley.


Four Car Crash In Lindley Now Deadly

The crash happened on State Route 15 in Lindley around 6:45pm Saturday evening. One of the drivers that was hit, 62 year old Brenda Bowers of Wellsboro, died from major injuries on Sunday afternoon.


Police Record

STEUBEN COUNTY SHERIFF *Patricia A. Hodge O'Brian, 50, of West High Street in Painted Post, was charged Aug.


Man Found Dead Before Caton Fire

July 28, 2008 CATON--Steuben County Emergency Management says a body was found over the weekend in a Caton trailer the day before it went up in flames.


Man Found Dead Before Caton Fire

July 28, 2008 CATON--Steuben County Emergency Management says a body was found over the weekend in a Caton trailer the day before it went up in flames.


Man Found Dead Before Caton Fire

July 28, 2008 CATON--Steuben County Emergency Management says a body was found over the weekend in a Caton trailer the day before it went up in flames.


Man Found Dead Before Caton Fire

July 28, 2008 CATON--Steuben County Emergency Management says a body was found over the weekend in a Caton trailer the day before it went up in flames.


Man Found Dead Before Caton Fire

July 28, 2008 CATON--Steuben County Emergency Management says a body was found over the weekend in a Caton trailer the day before it went up in flames.


Police Record

*William C. Piech, 22, of Marathon, N.Y., was charged July 13 with driving while intoxicated, first-degree aggravated unlicensed operation of a motor vehicle and failure to keep right after a traffic stop on state Route 414. *Michael R. Spaulding, 19, of Watkins Glen, was charged July 17 with endangering the welfare of a child. *Derrick M. Gleason, 23, of Coudersport, was charged July 16 with making terroristic threats, false alarms to agencies of public safety, flight to avoid apprehension and disorderly conduct stemming from a July 15 incident in Horner Township. He was arraigned before a district magistrate and committed to the Potter County Jail in lieu of $10,000 bail. *Jeremy I. Comfort, 21, of Bridge Street in Corning, was charged July 20 with fourth-degree grand larceny. *David G. Clarke, 26, of Jennings Street in Corning, was charged July 21 with driving while ability impaired by drugs, unlawful possession of marijuana and failure to keep right. *Douglas J. Chambers, 33, of North Franklin Street in Corning, was charged July 23 with second-degree harassment. *Audrey M. Turner, 21, of Perry Avenue in Corning, was charged July 23 with second-degree offering a false instrument for filing. *Dillon G. Trimble, 18, of West Third Street in Corning, was charged July 23 with second-degree harassment. *Matthew N.J. Marvin, 23, of Bridge Street in Corning, was charged July 23 with second-degree harassment. *Steven P. Ilnicki, 35, of Cram Cross Road in Lindley, was charged July 24 with driving while intoxicated, having a blood-alcohol level greater than .08 percent and speeding. *Ricky A. Murphy, 45, of West High Street in Painted Post, was charged July 24 with driving while intoxicated, aggravated driving while intoxicated and failure to stay within a single lane. *Vincent P. Mullaney, 35, of Indian Hills Road in Painted Post, was arrested July 17 on a Steuben County Family Court warrant for failure to pay child support. He was arraigned in Steuben County Court and sent to the Steuben County Jail in lieu of $500 cash bail or $1,000 property bond. *Jeffrey Paul VanSkiver, 48, of Porter Street in Prattsburgh, was arrested July 21 on a Steuben County Court warrant charging him with violation of probation, and a Bath Town Court warrant charging him with failure to notify a change of address. He also was charged with third-degree aggravated unlicensed operation of a motor vehicle, a second charge of failure to notify a change of address and operation of a motor vehicle with a suspended license. VanSkiver was arraigned in Steuben County Court and sent to the Steuben County Jail without bail. *Louis S. Earley, 24, an inmate in the Steuben County Jail, was charged July 21 with third-degree criminal mischief after police said he damaged the window of a cell door in the jail. He was arraigned in Bath Town Court and returned to the jail in lieu of $1,000 cash bail or $2,000 property bond. *Richard Lee Clark, 31, an inmate in the Steuben County Jail, was charged July 22 as a fugitive from justice wanted in Pennsylvania. *David Ross Hively Jr., 45, of North Main Street in Prattsburgh, was charged July 22 on a Steuben County Family Court warrant. He was arraigned in Steuben County Court and sent to the Steuben County Jail. *David C. Peckham, 44, of Montour Falls, was charged July 17 with second-degree harassment and second-degree criminal trespass. *Mischelle R. Carlyle, 38, of Montour Falls, was charged July 19 with driving while intoxicated. *Tim L. Perry, 39, of Penn Yan, was charged July 19 with fourth-degree grand larceny and third-degree unauthorized use of a vehicle. *Jessica J. Doubrava, 27, of Elmira, was charged July 19 with petit larceny. *A 16-year-old Horseheads youth was charged July 20 with petit larceny. *Thomas A. Fairchild, 32, and Edward Steinhauer, 24, both of Elmira, were charged July 21 with petit larceny, criminal possession of stolen property and trespassing. *Daniel E. Tymel, 42, of Savona, was charged July 17 with driving while intoxicated and unlawful possession of marijuana. *David A. Dodson, 31, of Elmira, was charged July 18 with driving while intoxicated. *Timothy P. Brennan, 45, of Corning, was charged July 18 with felony driving while intoxicated and first-degree aggravated unlicensed operation of a motor vehicle. *Joseph W. Kish, 67, of Savona, was charged July 18 with driving while intoxicated. *Samantha D. Dimmick, 18, of Painted Post, was charged July 19 with possession of alcohol by a person under the age of 21. *David E. Graham, 38, of Hammondsport, was charged July 20 with driving while intoxicated, driving while ability impaired by drugs and fifth-degree criminal possession of marijuana. He was arraigned and sent to the Steuben County Jail in lieu of $5,000 cash bail or $10,000 property bond. *Robert Ambrose Voda, 63, of Towanda, was charged July 21 with driving under the influence. The addresses listed in record items -- the last known residence of the accused or the address the person gave to law enforcement officers -- are obtained by the Star-Gazette from police or court records.


Winner announces grant for Lindley municipal building

New York state Sen. George Winner, R-Elmira, announced today that the town of Lindley will receive a $40,000 state grant to improve the energy efficiency of the Elroy H. Young Municipal Building.


Winner announces grant for Lindley municipal building

New York state Sen. George Winner, R-Elmira, announced today that the town of Lindley will receive a $40,000 state grant to improve the energy efficiency of the Elroy H. Young Municipal Building.


Steuben ARC Opens Bus Service to Public

The ARC of Steuben gives bus rides to disabled adults. But now, they're opening up some of their bus routes to the public.


People in the Twin Tiers

*Shavon S. Reid of Elmira received a bachelor's degree in humanities and social sciences from the State University of New York's Morrisville State College. *The following local residents were named to the spring dean's list at Morrisville State College: Andrew J. Aronstam of Waverly, a gaming and casino management major; Ashleigh A. Bennett of Lindley, an equine science major; and Mimi D. Harris of Pine City, an equine science and management major. *Trever Lee Ogden of Elmira and William L. Haskins of Elmira Heights were named to the dean's list at the University of Northwestern Ohio in Lima. *Aaron Iaquinto, son of Sharon and Joe Gublo of Elmira Heights and Joe and Julie Iaquinto of Coudersport, was named to the spring dean's list at East Carolina University in Greenville, N.C. Iaquinto, a 2007 graduate of Ithaca High School, is a freshman psychology major. *Brian Loughlin, son of James and Linda Loughlin of Horseheads, was named to the spring quarter dean's list at the Rochester Institute of Technology. Loughlin, a 2006 graduate of Horseheads High School, is a film and video major with a minor in creative writing. *Stacey Schmeig of Waverly received a Dean's Scholar Award from the State University of New York at Fredonia. Schmeig, a 2008 graduate of Waverly High School, will attend SUNY Fredonia this fall and major in communicative disorders and sciences. *Marcie Elizabeth Forsythe, daughter of David and Beth Forsythe of Horseheads, was named to the spring dean's list at the State University of New York College at Cortland. Forsythe is a therapeutic recreation major. *Allison MacPherson, daughter of Mark MacPherson and Shelley MacPherson of Elmira, was named to the spring dean's list at Syracuse University's Newhouse School of Public Communications. MacPherson, a 2005 graduate of Elmira Free Academy, is a junior public relations/ communications major. *Happy 50th birthday today to Daniel Beckman of Elmira. *Call: (607) 271-8293 or (800) 836-8970, ext. 293. *E-mail: jcleary@stargazette.com *Mail: John P. Cleary, Star-Gazette, P.O. Box 285, Elmira, NY 14902. Birthday and anniversary announcements must be received at least five days in advance.


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"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
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