Mortgages

Helping you get into your dream home is one of the ways we’re here to be your trusted financial partner. Welcome to competitive rates, personal service, and peace of mind.
Get Started

Resume Application or Check Status

ALREADY A MEMBER?

Yes
No

1-Year ARM

An adjustable rate mortgage (ARM) offers flexibility in higher interest rate markets. With an ARM, the interest rate changes periodically, usually in relation to an index, and payments may increase or decrease accordingly.

PSECU offers a 1-year ARM which means the monthly payment and interest rate will be locked in for the initial 12 months and may change annually thereafter. After the initial year, and each year thereafter, the interest rate will either remain the same, increase, or decrease based on the current rate environment at that time. The maximum the rate can increase in any one year is 1% and over the full term of the mortgage the rate can only increase by a maximum of 5% over the original interest rate.

Apply Today!

Learn More about our 1-Year ARM

ALREADY A MEMBER?

Yes
No
 

Benefits of a Home Loan With Us

At PSECU, you'll find a wide variety of mortgage loan products, customized service, and experts to guide you through the mortgage application process. You can complete your application online, at your convenience – and if you have questions, our trained mortgage consultants are here to help.

Competitive rates

Flexible loan terms and rates that work for your situation.

Quick prequalification

Get answers by the next business day. Prequalification is valid for 90 days, providing you enough time to find the perfect home.

A partner for life

Don’t buy just to get sold. Your loan servicing stays with PSECU for its duration.

Choices to fit your needs

Every situation is unique. It’s why we offer mortgage options for owner-occupied, vacation, and non-owner occupied properties, and jumbo loans for high-value properties.

mortgage feature

Make a Plan with Our Mortgage Calculators

Choosing a home loan is an important decision. With our calculators, you can crunch the numbers - and get that much closer to the right home.

calculator
Calculate your mortgage payment

Wondering how much you’ll pay each month and which options to choose? Compare loan terms, interest rates, and costs to get a solid estimate.

Calculate your payment >

Fixed Mortgage Rates

Valid as of 12/4/2022 12:37 PM EST 
Description Rate As Low As APR* Monthly Payment Example
10-year Fixed 0 points 5.625% 6.000% $10.92/per $1000.00
10-year Fixed 1 points 5.500% 6.097% $10.86/per $1000.00
10-year Fixed 2 points 5.375% 6.197% $10.80/per $1000.00
10-year Fixed 3 points 5.250% 6.300% $10.74/per $1000.00
15-year Fixed 0 points 5.625% 5.896% $8.24/per $1000.00
15-year Fixed 1 points 5.500% 5.927% $8.18/per $1000.00
15-year Fixed 2 points 5.375% 5.960% $8.11/per $1000.00
15-year Fixed 3 points 5.250% 5.994% $8.04/per $1000.00
20-year Fixed 0 points 5.625% 5.850% $6.96/per $1000.00
20-year Fixed 1 points 5.500% 5.848% $6.89/per $1000.00
20-year Fixed 2 points 5.375% 5.848% $6.82/per $1000.00
20-year Fixed 3 points 5.250% 5.848% $6.75/per $1000.00
30-year Fixed 0 points 6.125% 6.278% $6.08/per $1000.00
30-year Fixed 1 points 6.000% 6.151% $6.00/per $1000.00
30-year Fixed 2 points 5.875% 6.025% $5.92/per $1000.00
30-year Fixed 3 points 5.750% 5.897% $5.84/per $1000.00


*Rates, terms, and information are subject to change at any time. Rates and/or points are based on several factors, including but not limited to: property type, occupancy, loan to value, loan purpose, credit score, and subordinate financing. Rates apply to loans up to Fannie Mae's conventional mortgage loan limits. Mortgage loan payment example: 10 year fixed 0 points of $10.92 per $1,000 borrowed at the 6.000% APR; 15 year fixed 0 points of $8.24 per $1,000 borrowed at the 5.896% APR; 20 year fixed 0 points of $6.96 per $1,000 borrowed at the 5.850% APR; 30 year fixed 0 points of $6.08 per $1,000 borrowed at the 6.278% APR. Payment amounts shown are representative of principal and interest only and do not include taxes and insurance; therefore, actual payment amount is greater and varies from those shown. Loan amounts greater than 80% LTV are subject to meeting private mortgage insurance requirements. Please contact us for specific rate information, mortgage loan limits, or down payment requirements at 800.237.7328, extension 3878.

Adjustable Mortgage Rates

Valid as of 12/4/2022 12:37 PM EST 
Description Initial Rates As Low As APR* Monthly Payment Example
15-year 1/1 Variable 4.750% 6.851% $7.78/per $1000.00 for the 1st year, 1 year ARM after
30-year 1/1 Variable 4.875% 7.025% $5.30/per $1000.00 for the 1st year, 1 year ARM after

*APR denotes Annual Percentage Rate.

Rates, terms, and information are variable and subject to change daily based on the 1 year Treasury Constant Maturity (Federal Reserve), and apply to loans up to Fannie Mae's conventional mortgage loan limits. All ARMs offer a fixed rate for the initial period of the loan and may adjust annually thereafter. The interest rate and monthly payment may increase after closing. Rate will not go below the margin of 2.5%. The lifetime cap is 5% higher than the initial rate. Rates and/or points are based on several factors, including but not limited to: property type, loan to value, loan purpose, occupancy, credit score and subordinate financing. Mortgage loan payment example: 1/1 30 year variable of $5.30 per $1,000 borrowed at 4.875% for the first 12 payments; 12 payments of $5.92 per $1,000 borrowed if the rate adjusts to the annual maximum of 5.875%; 12 payments of $6.58 per $1,000 borrowed if the rate adjusts to the annual maximum of 6.875%; 12 payments of $7.26 per $1,000 borrowed if the rate adjusts to the annual maximum of 7.875%; 12 payments of $7.96 per $1,000 borrowed if the rate adjusts to the annual maximum of 8.875%; 299 payments of $8.69 per $1,000 borrowed if the rate adjusts to the ceiling at 9.875%. Payment amounts shown are representative of principal and interest only and do not include taxes and insurance; therefore, actual payment amount may be greater and varies from those shown. Loan amounts greater than 80% loan-to-value (LTV) ratio are subject to meeting private mortgage insurance requirements. Please contact us for specific rate information, mortgage loan limits, or down payment requirements at 800.237.7328, extension 3878.

FAQs

Our mortgage Process

After you submit your mortgage application, a PSECU mortgage consultant will review your application. We’ll answer any questions you may have and, if qualified, provide you with a prequalification letter if you’re purchasing a home. The prequalification letter lets you know exactly how much house you can afford and helps you make a strong bid to the seller.

Once you find the right house and go under contract, we can move forward in the loan process. At this time, you provide more detailed financial information. Through the process, our underwriters will carefully review your loan. After closing, we’ll service your loan through the life of your mortgage.

If you are choosing to refinance your mortgage with PSECU, the process is very similar, except you won’t receive a prequalification letter.
On average, it takes 45 - 60 days from application date to closing date.
We offer jumbo 1-year Adjustable Rate Mortgages (ARMs) of $647,201 to $1 million at a low start rate. 

Caps are 1/5, which means your interest rate will not adjust more than 1% up or down per year. The rate will adjust no more than 5% up or down over the life of the loan. Contact us to discuss your specific situation.

Our jumbo loans have a few qualifications. The property must be:
  • Located in Pennsylvania
  • 1- to 4-unit dwelling
  • Primarily used by the borrower (owner occupied)
  • Titled in the name(s) of individual(s). Living trusts are not acceptable.
We lend to properties that are: 
  • Located in the state of Pennsylvania
  • Recorded with PSECU listed as first lien holder. The property secures your mortgage loan.
  • Titled after purchase in the name(s) of individual(s), not a trust
  • Owner-occupied homes, vacation homes, or residential non-owner occupied properties with one, two, three, or four units
  • Condominiums or residences within a Planned Unit Development (PUD) that meet certain criteria. Please contact our Mortgage Consultants for more information.

We do not lend to properties that are:

  • Single-wide manufactured homes
  • Timeshares
  • Not in acceptable marketable condition
  • Residential non-owner occupied condo or manufactured homes
  • Located outside Pennsylvania
Fixed Rate:
When applying online, you will have an opportunity to lock your interest rate. If you choose to let the rate float, the interest rate will not be locked until you notify us that you want to lock it. Some mortgage products require the assistance of PSECU staff. If that's the case with your mortgage application, you'll have the opportunity to lock your rate when you speak with us. We do not offer rate locks on prequalification applications.

Adjustable Rate:
You will receive the lowest rate in effect from the time of application up to the time of approval.

 


You may request to waive an escrow account if the loan-to-value (LTV) is 80% or lower, taxes and insurance have been paid timely in the past, and you have the ability to pay them on your own.

Is there a maximum Loan-to-Value ratio?1
Fixed Rate Mortgages

 

Purchases - Purchase a primary or vacation home. You may borrow up to the following limits based on the appraised value or sales price, whichever is less:

  • 97% on a 1 unit owner-occupied primary residence
  • 90% on a 1 unit owner-occupied second / vacation home
  • 80% on a 2 unit owner-occupied / 1 unit non-owner occupied property
  • 75% on a 3 to 4 unit owner-occupied / 2 to 4 unit non-owner occupied property

Refinance - Payoff your existing mortgage(s) or get cash back for another purpose. You may borrow up to the following limits based on the appraised value:

Paying off existing 1st mortgage only with option to roll in the closing costs:

  • 95% on a 1 unit owner-occupied primary residence
  • 90% on a 1 unit owner-occupied second / vacation home
  • 80% on a 2 unit owner-occupied property
  • 75% on a 3 to 4 unit owner-occupied / 1 to 4 unit non-owner occupied property

Paying off a 1st and/or 2nd mortgage, closing costs and/or getting cash back for another purpose:

  • 80% on a 1 unit owner-occupied primary residence
  • 75% on a 1 unit owner-occupied second / vacation home / non-owner occupied property and a 2 to 4 unit owner-occupied property
  • 70% on a 2 to 4 unit non-owner occupied property

Adjustable Rate Mortgages

Purchases - Purchase a primary or vacation home. You may borrow up to the following limits based on the appraised value or sales price, whichever is less:

  • 90% on a 1 unit owner-occupied primary residence
  • 80% on a 1 unit second/vacation home
  • 75% on a 2 unit owner-occupied primary residence or 1 unit non-owner occupied property
  • 65% on a 3 to 4 unit owner occupied / 2 to 4 unit non-owner occupied property

Refinance - Payoff your existing mortgage(s) or get cash back for another purpose. You may borrow up to the following limits based on the appraised value:

Paying off existing 1st mortgage only with option to roll in the closing costs:

  • 90% on a 1 unit owner-occupied primary residence
  • 80% on a 1 unit second/vacation home
  • 75% on a 2 unit owner-occupied primary residence
  • 65% on a 3 to 4 unit primary residence or 1 to 4 unit non-owner occupied property

Paying off a 1st and/or 2nd mortgage, closing costs and/or getting cash back for another purpose:

  • 75% on a 1 unit owner-occupied primary residence
  • 65% on a 2 to 4 unit owner-occupied property; 1 unit owner-occupied second/vacation home/non-owner occupied property
  • 60% on a 2 to 4 unit non-owner occupied property
1Maximum LTV requirements are subject to change at any time. Some products may require minimum credit scores, member to be a first-time homebuyer, or income limits to qualify for maximum LTV loans. All loan amounts greater than 80% are subject to meeting private mortgage insurance requirements.

Mortgage Definitions

The loan-to-value (LTV) ratio is the loan amount displayed as a percentage of a property’s market value. Maximums vary by property type. You don’t have to borrow the maximum LTV, but the guidelines tell you your borrowing limit.
Fixed-rate mortgages have a fixed interest rate for the life of the loan. The monthly payment for principal and interest on a fixed-rate loan stays the same every month for the term of the loan. 

You have the option to buy down the interest rate by paying discount points upfront. You can choose to lock in your interest rate once you’ve signed a sales agreement, or wait until closer to closing.
Our Adjustable Rate Mortgage (ARM) products offer a competitive starting rate that's fixed for the first year of the loan.
Each point is equal to one percent of the loan amount. Please check out the rate tables for interest rates and points available for our mortgage products.
Private Mortgage Insurance (PMI) is generally required for loans with a loan to value (LTV) greater than 80%. This coverage helps protect the lender in case you can't make your payments and default on the loan. PMI makes it possible for borrowers with small down payments to buy a home.