Conventional Mortgages
With competitive interest rates and affordable monthly payments, these mortgages are a great way to buy a first home or even finance a second. Or a third! And with HomeAdvantageTM, you can rest assured knowing that we’ll provide you the tools you need to find a home that fits your budget.
First-Time Homebuyers
With competitive interest rates and monthly payments you can afford, a conventional mortgage with PFCU is a great way to buy your first home. With HomeAdvantageTM, we'll give you the tools to help you find a home that fits your needs and budget.
We offer a number of conventional first mortgages, including:
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.
Compare your Options
| | Conventional Mortgage | FHA Mortgage |
Down Payment | 3%
Must have available funds. | 3.5%
All of the funds can be a gift from a family member |
Minimum Credit Score | Varies by loan program | Varies by loan program |
Rates | Rates are determined by the lender based on guidelines/credit criteria. | Rates are determined by the lender based on guidelines/credit criteria. |
Mortgage Insurance | Private Mortgage Insurance is required with less than 20% down. | Upfront mortgage insurance premium can be added into the loan + monthly mortgage insurance premium. |
Property | Can be primary, investment, or secondary residence | Primary residence only |
Sellers Assistance | Seller can assist with closing cost up to 6%. | Seller can assist with closing cost up to 6%. |
Property Locations | In all 50 states | PA, NJ, DE, & MD |
Terms | 10 - 30 years (5 year increments) | Up to 30 years |
Loan Limits | Up to $417,000 | Loan limits vary based on # of units, county, etc. |
Products Offered | Fixed Conventional & 5/1 ARM (Adjustable Rate Mortgage) | Fixed & ARM Programs |
Want to talk to someone?
Call our Mortgage Department at 215-934-3505 to talk with a PFCU Mortgage Professional.
Want to apply?
Call 215-934-3500 or 800-832-PFCU to discuss your options and schedule an appointment.
*If you are applying for a pre-approval, purchase or refinance, an application deposit will be collected to cover the cost for the credit reports. This fee will be credited toward closing costs.
We will accept your application online even if you are not currently a member. 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.
Conventional First Mortgages are issued in PA, NJ, DE, MD and FL only. Conventional First Mortgage rates quoted are for our standard programs.
Cash out refinance transactions with LTV over 70% will be .75% higher than rates quoted. Paying off a home equity loan is considered cash out.
Offer of credit is subject to credit approval.