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PHONE: 215-934-3500 or 800-832-PFCU

ABA Routing # 236084298

Mortgages and Home Loans

Whether you’re buying a new home or refurbishing an old one, we’ve got the rates and packages to help. Plant those roots in a solid financial foundation.

Mortgages and Home Loans
Which mortgage is right for you?

When deciding which types of home loans to select, you should consider asking your financial institution some essential questions to start. There are several avenues to getting funding for your new or existing home purchase. Take the time to learn your options, so your financial stability is always at the front of your mind.

Interest Rate | Loan Term | Life of the Loan | Adjustable-Rate Mortgage



Interest Rate

The mortgage interest rate for a loan is the price of the money loaned against a specific home or property's security value. This percentage is often adjusted based on your FICO credit score. The better the credit score, the less risk is associated with lending the money. Some financial institutions will also use down payments, membership status, and other personal factors to approve better interest rates.

Loan Term

The loan term of a home loan refers to the number of months you will agree to make monthly mortgage payments toward your new home. Different loans have different loan terms depending on credit scores, financial institution, type of structure to be financed, and optional payment features available within your selected loan plan. The loan term can also fluctuate depending on refinancing options or prepayment of the home loan. Your loan term, together with the interest rate, affects the total cost of the loan.

Life of the Loan

The Life of the Loan is a simple way of referring to the various stages of the loan growth toward maturation or default. Several optional steps can occur, such as refinancing, reverse mortgages, and HELOCs that affect the life of the loan and your end date.

Adjustable-Rate Mortgage

Many types of mortgages exist. One type of loan you will see offered often is the adjustable-rate mortgage or ARM. These types of loans have an interest rate that varies throughout the life of the loan. The initial interest rate is fixed for a period of time when the loan is closed. After the initial period, the interest rate varies periodically based on predefined intervals of time. Based on predetermined benchmarks and an additional spread called the ARM margin, the interest varies throughout the loan's life. Financial institutions refer to ARMs as Floating mortgages or variable-rate mortgages as well.

Conventional First Mortgage

Properties

Primary residences, vacation homes

Down Payment

5% down payment, 3% for first time home buyer

Loan Options Available

Fixed-rate, adjustable-rate

Fixed-Rate Mortgages

10- to 30-year terms (in five-year increments) available on primary residence.

Adjustable-Rate Mortgages

30-year 5-1 adjustable loans available on primary residence. (The initial fixed-rate period is five years is adjusted each year on the loan anniversary date).

Vacation Property loans

10- to 20-year terms (in five-year increments). 30-year term available if you plan to retire to the property.

We offer conventional first mortgages in all 50 states. If you are financing outside of our standard lending area of PA, NJ, DE, MD, or FL, please call a Mortgage Professional at 215-934-3505.

HomeAdvantage®

Learn more about PFCU's HomeAdvantage Cash Rewards Program.

Mortgage Calculators

Easily calculate your monthly payment, the difference between renting and buying, the APR for fixed-rate or adjustable-rate loans, how long it will take to “break-even” on a refinanced loan, your estimated tax savings.

FHA Mortgage

FHA Home Loans

Competitive mortgage loans backed and insured by the Federal Housing Administration (FHA)

Features of FHA Home Loans ▸
Details for FHA Home Loans ▸
Apply for a FHA Home Loan ▸

Properties

Primary residences

Down Payment

3.5%, down payment can come from a relative

Loan Options Available

Fixed-rate, adjustable-rate

Features

Here are some other features available to you.

  • Fixed or adjustable rate loans are available
  • Seller can assist with up to 6% of purchase price toward closing costs
  • All funds for your closing costs can be from a gift
  • Available for primary residences in all 50 states.
  • Non-traditional credit considerations (on-time rent, utility and insurance payments)
Apply for a FHA Home Loan

VA Mortgage

VA Home Loans

Mortgages guaranteed by the Department of Veterans Affairs, and specially designed to help our men and women in uniform.

Features of VA Home Loans ▸
Details for VA Home Loans ▸
Apply for a VA Home Loan ▸

Properties

Primary residences

Down Payment

None

Loan Options Available

Fixed-rate

Features

Here are some other features available to you.

  • No down payments, in most cases
  • Liberal qualifying guidelines
  • Fixed-rate terms
  • No private mortgage insurance
Apply for a VA Home Loan

Here are our Home Equity Loans and Refinancing Options

Home Equity Loans

Home Equity Loans

If the cash you need isn’t quite there, your house can come to the rescue. Our Home Equity Loan offers fixed amounts and terms.

Features of Home Equity Loans ▸
Details for Home Equity Loans ▸
Apply for a Home Equity Loan ▸

Properties

Primary residences, vacation homes, investment properties

Loan Options Available

Fixed-rate

Features

Home Equity Loans are ideal for:

  • Consolidating debt. You’ll enjoy one low interest rate and one monthly and – most likely – smaller bill. Plus, you may improve your credit rating in the process.
  • Home improvements. Use your equity to make improvements that can increase the market value of your home.
  • College tuition. Your home's equity can help you invest in your child's future!
Apply for a Home Equity Loan
Home Equity Line of Credit (HELOC)

Home Equity Line of Credit (HELOC)

Borrow up to a maximum amount using your home's equity as collateral. Functions like a credit card with a spending limit determined by your home's equity.

Features of HELOC ▸
Details for HELOC ▸
Apply for a HELOC Loan ▸

Properties

Primary residences, vacation homes

Loan Options Available

Variable-rate

Features

Home Equity Lines of Credit are ideal for:

  • Home improvements. Borrow the funds you need, when you need them for home improvement projects that can increase the market value of your home.
  • College tuition. Your home's equity can help you invest in your child's future!
  • Periodic expenses. Borrow funds in installments to pay off periodic expenses using your home's equity as your line of credit.
Apply for a Home Equity Line of Credit Loan
Fast Track Mortgage

Fast Track Mortgage

Don't just dream of paying your mortgage off early - do it! With our Fast Track Mortgage program, it's easy.

Features of Fast Track Mortgage ▸
Details for Fast Track Mortgage ▸
Apply for a Fast Track Mortgage ▸

Properties

Primary residences, vacation homes

Loan Options Available

Fixed-rate

Features

Fast Track Mortgages are ideal for:

  • Refinance your mortgage with no closing costs.
  • Take this opportunity to lock in a historically low rate,* no closing costs and no appraisal fee.*
  • Refinancing to a 15 year term can substantially lower your interest expense.

* APR = Annual Percentage Rate. This is the Credit Union's best rate. Rates and approval may vary depending on each borrower's credit history/eligibility, underwriting criteria and market conditions. Offer of credit is subject to credit approval. The available terms are subject to change without notice. Cannot be combined with any other offer and excludes all loans already financed at Philadelphia Federal Credit Union. Fees that PFCU pays on your behalf will be recaptured if the loan is paid off within first three years. For each $10,000 borrowed at 3.24% APR over a term of 180 months, pay approximately $70.22 a month. $25,000 minimum and $250,000 maximum loan amounts. Offer is valid for 80% loan-to-value up to a 15-year term. Property must be owner-occupied. Loan to be financed must be in first-lien position. We will lend in PA, NJ, DE, MD and FL. Some fees may apply for properties outside Pennsylvania and New Jersey. Property insurance is required and flood insurance may be required. Consult a tax advisor regarding the deductibility of interest.

Apply for a Fast Track Mortgage

First Mortgage Account Contact Information

Online Account Access
Online Account Access
pfcu.loanadministration.com
PFCU Phone
Customer Service
866-370-7328
Mortgage CalculatorsVerified by Visa

National Association of Federal Credit Unions 
PFCU is a proud member of the National Association of Federal Credit Unions
National Credit Union Administration 
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Excess Share Insurance Corporation 
Additional insurance of up to $250,000 on your savings accounts is provided by Excess Share Insurance Corporation, a licensed insurance company.
Equal Housing Lender 
We do Business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

We provide links to external websites for your convenience. Philadelphia Federal Credit Union does not endorse and is not responsible for their content, links, privacy or securities policies.

Please note that the amount of money contained in your investment accounts are considered non-deposit products and therefore, are not NCUA insured, not credit union guaranteed, may lose value, are not guaranteed by any government agency. Since they are not a deposit of the Philadelphia Federal Credit Union, investment accounts do not qualify for Excess Share Insurance (ESI). Securities, Financial Planning and Insurance products are offered through LPL Financial, and its affiliates, Member FINRA, SIPC. LPL Financial and Philadelphia Federal Credit Union are independent entities.