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Home Mortgages

Home Mortgage Loans

You wouldn’t give your house keys to a stranger. So why entrust your home loan with corporate bankers headquartered who knows where? Alden State Bank has been helping our neighbors become homeowners since 1916 — and we’d love to help you! 

Excellent rates, a wide selection of mortgage options, and personalized service ensure we secure the right loan for you — right where you want to call home.

  • Competitively low rates for home purchase, refinance, or construction
  • Available for primary residence, second homes, vacation homes, or investment properties
  • A wide range of terms customized to your unique situation
  • A wide range of financing programs available
  • Helpful loan advisors with working knowledge of the local real estate market
  • Free pre-qualification for extra confidence when it comes to securing financing
  • Refinance your current home to potentially lower your rate
  • Local decision-making and processing in Western New York
  • Attentive, friendly service from start to finish

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act) requires us to provide the names of our Mortgage Loan Originators and their unique identifier upon request. If you are interested in obtaining this information, please contact us or call 716-937-3381.

View a list of servicing fees.

Homebuyer Dream Program


What is it?
The Homebuyer Dream Program provides homeownership assistance for up to $15,000 for qualified applicants! The maximum grant amount that a household may receive is up to $14,500. Additionally, the Homebuyer Dream Program also offers up to $500 towards the defrayment of homeownership counseling costs. The Homebuyer Dream Program provides funds to be used towards down payment and closing cost assistance to first-time homebuyers purchasing homes within the Western New York Area.


What are the requirements?

• Meet the definition of First-Time Homebuyer.

• Meet the income guidelines (at or below 80% area median income).

• Complete a homeownership counseling program (minimum of 6 hours, in multiple sessions).

• Provide a fully executed Purchase and Sales Contract for an eligible property type (1-4 family dwelling, townhouse, condominium) to be used as the household’s primary residence.

• Provide a minimum equity contribution of $1,000 toward the purchase of the home.

• Agree to sign, at the time of closing, a 5-year second mortgage with Alden State Bank for the amount of the HDP Grant.

• Mortgage must be through Alden State Bank, with 20% down payment.

How does it work?
The Homebuyer Dream Program will be administered through an annual round on a first-come, first-served basis.  The round will remain open for reservation requests until funds are exhausted or until November 30th of the current calendar year, whichever occurs first.

What is the definition of a First Time Homebuyer?
A first-time home buyer, based upon the U.S. Department of Housing and Urban Development (“HUD”) definition, is an individual who meets any of the following criteria:

• An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers).

• A single parent who has only owned a principal residence with a former spouse while married.

• An individual who is a displaced homemaker and has only owned a principal residence with a spouse.

• An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.

• An individual who has only owned a property that was not in compliance with state, local or model building codes and that cannot be brought into compliance for less than the cost of constructing a permanent structure.

What part of my income is considered?

• Anticipated total income from all sources received by the household (even if a member is temporarily absent) and by each additional member of the household 18 years or older.

• The reported net income derived from operation of a business or profession averaged over a one (1) year period.

• Interest, dividends, and other net income of any kind from real or personal property.

• Payments in lieu of earnings, such as unemployment and disability compensation, worker’s compensation, and severance pay.

• Alimony & Child Support.

• Social Security, annuities, insurance policies, retirement funds, pensions, disability or death benefits.

• Government/Welfare Assistance.

• All regular pay, special pay and allowances of a member of the Armed Forces.

What is required for the Homebuyer Dream Program Eligibility Submission & Mortgage Loan Application?
All required documents must be received for each income earning adult in the household:

• One month of the most recent paystubs for each applicant

• Past 2 years of Federal Tax Returns & W2’s

• Driver’s License or Photo ID

• Any of the following documentation (if applicable)

- SSD/SSI Award Letter

- Pension Award Letter

- Divorce Decree and/or Child Support Court Order

- Child Support Statement Form

- Education Certificate

• Fully executed Purchase and Sales Contract for an eligible property type (1-4 family dwelling, townhouse, condominium)

• Fully executed Homeowner Counseling Certificate

• Fully executed Zero Income Certification form(s) for each Member of the household, 18 years or older, with zero income.

• Fully executed legal separation agreement or court papers filed for divorce (if applicable)

• Provide a minimum equity contribution of $1,000 toward the purchase of the home (which can be a gift).

For more information or to apply please contact your nearest Alden State Bank office:

13216 Broadway Alden – 937-3381

5802 Broadway Lancaster – 685-5090

Make Your Dreams A Reality

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