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.

movingPeeps

Which mortgage is right for you?

conventionalFirst

Conventional First Mortgage

Ideal for first-time homebuyers, while being flexible enough to finance vacation homes and investment properties, too.


Properties

Primary residences, vacation homes


Down Payment

5% down payment


Types 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.

Home Advantage

Learn more about PFCU's Home Rebate Advantage.

First Front Door Program

Get up to $5,000* towards down payment and closing costs on your first home! Learn more
Apply for a Loan

FHA

FHA Mortgage

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


Properties

Primary residences, vacation homes


Down Payment

3.5%, down payment can come from a relative


Types 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 Loan


VA

VA Mortgage

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


Properties

Primary residences


Down Payment

None


Types 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 Loan


harp

Home Affordable Refinance Program (HARP)

If the value of your house has declined, the Home Affordable Refinance Program can help. HARP lets you refinance your first mortgage, even if you owe more than house is worth.


Properties

Primary residences


Features

No maximum loan-to-value (LTV) requirement. Low rates. Flexible credit requirements.


 

Features

HARP program benefits include:

  • Refinance your first mortgage even if you owe more than the value
  • No maximum loan-to-value (LTV) requirement
  • Rock-bottom rates with flexible credit requirements
  • Streamlined processing
  • Online HARP site for application processing
  • Refinancing is quick and easy

Here's what you need to qualify:

  • You must live in the home being refinanced
  • HARP 2.0 refinance only applies to Fannie Mae mortgages
  • Homeowner must be able to afford the new lower payment
  • Current mortgage must be up-to-date with no late payments in the past 12 months
  • Payments on the new loan must be more affordable or more stable than on the existing loan
  • The maximum LTV cap has been removed on homeowners looking to refinance into a fixed-rate mortgage
  • For homeowners looking to refinance into an adjustable-rate mortgage (ARM), the maximum LTV is 105%
  • Your current mortgage must have a securitization date prior to June 1, 2009
Apply for a Loan




HERE ARE OUR HOME EQUITY LOANS AND REFINANCING OPTIONS

equity

Home Equity Loans & Line of Credit

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; our Home Equity Line lets you tap into funds on an as-needed basis.

Properties

Primary residences, vacation homes

Types Available

Home Equity Line of Credit, Home Equity Loan

 

Features

Home Equity Loans and Lines of Credit 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 Loan
fastTrack

Fast Track Mortgage

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

Properties

Primary residences, vacation homes

Types 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.

* Promotion 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. Offer excludes all loans already held at Philadelphia Federal Credit Union. This offer expires 6/30/16. APR = Annual Percentage Rate. Rates may vary depending on each borrower’s credit history/eligibility, underwriting criteria and market conditions. Offer of credit is subject to credit approval. Cannot be combined with any other offer. Offer 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.

Apply for a Loan
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