Mortgages and Home Equity

 

A better selection of mortgage programs makes it easy for you to make the best choice.

Our Mortgage Department at Peninsula prides itself on being different.  We have a unique perspective about home buying, financing, and what it means to our members.  We realize that every home, every buyer, and every loan is unique, so rather than trying to fit all that diversity into one mold, we broke it.  

Instead of offering only a few programs, we have dozens to work with, ensuring that nearly every member can find a program that is best for them – not everyone else.  As a result, we have a better selection of programs to choose from, making it easy to make the best choice.

Fast Track Application: Our streamlined application and processing makes it easier and more convenient to start the home ownership process.  Best of all, it saves you time because it all starts with a single sheet of paper, and for a minimal fee you’ll have credit approval in a matter of a couple days.
  Free Home Loan calculators:

 

 Access our FREE financial calculators and you’ll have access to volumes of information about how much you can borrow, what payments might be like, and many other decisions regarding home ownership.  They’ll help fine tune your shopping and financing needs ahead of time.
  Application Options: We’ve made sure that you’ll get the answers you need when you need them.  You can correspond with a mortgage loan representative any time, day or night, by e-mailing our mortgage department at homes@pcfcu.org.  If you prefer to speak directly with someone, just call us at 800-426-1601.  Finally, any person in our branch has the ability to help arrange an appointment with our team of Mortgage Loan Specialists, so feel free to stop in and speak to us about setting up a convenient time in the future.

Home Purchase & Refinance

In addition to outstanding customer service, fast loan processing and personalized attention, Peninsula offers a full complement of mortgage products, all with competitive rates and low fees. We offer free pre-qualifications, overnight loan approval, and local processing for members.

Low and No Down Payment Mortgages

We’ll make sure closing costs or down payments aren’t a barrier to home ownership.  In addition to VA mortgages, we have a number of programs that let you determine how much you want to put down on a home.

Conventional Purchase & First Time Buyers

Our conventional mortgages can be structured with variable, fixed, or balloon terms, so you’ll find the best program for your particular needs.

All-in-One Construction Loans

We believe financing the construction of a home should be one of the easiest decisions to make and carry out.  With the ability to lock-in today’s rate for the entire term, a high loan-to-value ratio for most projects, and one-time fees up front, it’s a worry free foundation for your new home. 

Land Loans

This is a special program for members purchasing 10 acres or less.  Our programs allow members to finance up to 90% of the purchase price using seller contributions and seller carry-backs.  Both fixed and variable rates are available at very competitive rates and terms.

And, all these are available, too:

•  Stated Income Loans
•  Manufactured Home/Land Loans
•  Second Home and Vacation Home Loans
•  Cash Out Refinances

Home Equity Loans

Our one page home equity application and expedited servicing means you’ll have funds available faster than you expect, and you’ll really benefit from our competitive rates, flexible terms, and low fees. And many borrowers can benefit from certain tax advantages.*
 * See your tax advisor to see if you qualify

  Home Value Line

...the line of credit you can rely on

 

click here for a printable application
  • Unlimited draw period - use and re-use your available credit again and again as long as you own your home*
  • No Annual Fee
  • No cost or fees to open a Home Value Line**
  • Convenient access to your funds any time - using Online Internet Account Access, or call us to transfer the funds to your checking or savings!
  • Currently 5.0% APR***
  • Tax benefits are available for some borrowers (please see a tax advisor to see if you qualify).
  Fixed Rate Home Equity Loans

 

Special projects, unexpected expenses, or one-time opportunities may mean you need a financial resource with fixed payments, rates, and terms. With fixed rates and terms at competitive levels, many homeowners consider this to be a great financial resource.


On approval of credit.  Maximum loan amount and/or cumulative loan to value are subject to underwriting guidelines and credit information.  Property insurance required.  Based on an acceptable tax assessment and/or appraisal at the discretion of PCFCU.  * Subject to ownership as your primary residence and loan is maintained on an as agreed basis.  ** Some limitations apply.  Some fees may apply if loan is terminated by either party within 5 years of origination.  Appraisal fee may be required for non-conforming loan requests.  ***   Annual Percentage Rate = APR. Rates subject to change.  Interest rate adjusted quarterly, rate floor of 5% APR, rate not to exceed 18% APR.  Rates equal to the Prime Rate ("Index") as published in the Money Rates section of the Wall Street Journal.  The most recent Index figure available on the 1st of the month prior to the change date is called the current "Index".

Which is best for you?

With our variety of programs and vast experience we can help you determine which is right for you, your family, and will be the best choice for your financial success. Call us toll-free today to talk with our Mortgage Loan Specialists at 800-426-1601 or e-mail them at homes@pcfcu.org.

We do business in accordance with the Fair Lending Laws and the Equal Credit Opportunity Act.
 

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