The American dream can be yours
Everyone dreams about owning a home, a place to settle down and raise a family and to call your very own. But not everyone knows how easy it is to qualify. We have loans to make your dream possible, including FHA loans.* An FHA loan is a mortgage loan insured by the Federal Housing Administration (FHA).
With low down payments, and consideration for non-traditional credit histories such as on-time rent, utility and insurance payments, FHA loans make this an excellent time to take steps toward home ownership.
- Terms up to 30 years available on a primary residence.
Consider your options
| ||Conventional Mortgage ||FHA Mortgage |
- Must have available funds.
- All of the funds can be a gift from a family member.
Minimum Credit Score
|Varies by loan program ||Varies by loan program |
|Rates are determined by the lender based on guidelines/credit criteria. ||Rates are determined by the lender based on guidelines/credit criteria. |
|Private Mortgage Insurance is required with less than 20% down. ||Upfront mortgage insurance premium can be added into the loan + monthly mortgage insurance premium. |
|Can be primary, investment, or secondary residence ||Primary residence only |
|Seller can assist with closing cost up to 6%. ||Seller can assist with closing cost up to 6%. |
|In all 50 states ||PA, NJ, DE, & MD |
| 10 - 30 years (5 year increments) ||Up to 30 years |
|Up to $417,000 ||Loan limits vary based on # of units, county, etc. |
|Fixed Conventional & 5/1 ARM (Adjustable Rate Mortgage) ||Fixed & ARM Programs |
Talk with a mortgage professional.
Call our Mortgage Department at 215-934-3505 to talk with a PFCU Mortgage Professional.
Easy to apply
*Available in PA, NJ, DE & MD. Not available in FL. If you are applying for a purchase or refinance, an application fee will be collected to cover the cost for a credit report. This fee will be credited toward closing costs. We will accept your application online even if you are not currently a member. However, all borrowers on the application will be asked to qualify for membership. Prior to your loan closing, you will be asked to open a qualifying account. Residency restrictions apply.