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.
Benefits of a Home Loan With Us
At PSECU, you’ll find a wide variety of mortgage loan products, customized service, and expert advice. You can complete your application online, at your convenience – and if you have questions, our trained mortgage consultants are here to help.
Fixed mortgage rates
| Description | Rate as low as | APR* |
|---|---|---|
| 10-year Fixed 0 points | 2.875% | 3.183% |
| 10-year Fixed 1 points | 2.750% | 3.269% |
| 10-year Fixed 2 points | 2.625% | 3.357% |
| 10-year Fixed 3 points | 2.500% | 3.447% |
| 15-year Fixed 0 points | 3.000% | 3.217% |
| 15-year Fixed 1 points | 2.875% | 3.237% |
| 15-year Fixed 2 points | 2.750% | 3.258% |
| 15-year Fixed 3 points | 2.625% | 3.280% |
| 20-year Fixed 0 points | 3.375% | 3.555% |
| 20-year Fixed 1 points | 3.250% | 3.544% |
| 20-year Fixed 2 points | 3.125% | 3.532% |
| 20-year Fixed 3 points | 3.000% | 3.522% |
| 30-year Fixed 0 points | 3.500% | 3.618% |
| 30-year Fixed 1 points | 3.375% | 3.492% |
| 30-year Fixed 2 points | 3.250% | 3.365% |
| 30-year Fixed 3 points | 3.125% | 3.239% |
*APR denotes Annual Percentage Rate
adjustable mortgage rates
| Description | Rate as low as | APR* |
|---|---|---|
| 15-year 1/1 Variable | 2.750% | 4.174% |
| 30-year 1/1 Variable | 3.250% | 4.286% |
| 30-year 3/1 Variable | 3.125% | 3.819% |
| 30-year 5/1 Variable | 3.625% | 3.903% |
| 30-year 7/1 Variable | 3.750% | 3.816% |
*APR denotes Annual Percentage Rate
| 1/1-Year2 Adjustable Rate Mortgage – offered with either 15- or 30-year terms | |
|---|---|
| Fixed Term | 12 months |
| Periodic Rate Change | +/- 1% |
| Lifetime Rate Cap | + 5% |
| Margin | 2.5 |
| 1-year CMT Index | fluctuates weekly |
| 3/1-Year Adjustable Rate Mortgage – offered with a 30-year term | |
|---|---|
| Fixed Term | 36 months |
| Periodic Rate Change | +/- 2% |
| Lifetime Rate Cap | + 6% |
| Margin | 1.75 |
| 1-year LIBOR Index | fluctuates daily |
| 5/1-Year Adjustable Rate Mortgage – offered with a 30-year term | |
|---|---|
| Fixed Term | 60 months |
| Periodic Rate Change | +/- 2% |
| Lifetime Rate Cap | + 5% |
| Margin | 1.75 |
| 1-year LIBOR Index | fluctuates daily |
| 7/1-Year Adjustable Rate Mortgage – offered with a 30-year term | |
|---|---|
| Fixed Term | 84 months |
| 1st Periodic Rate Change | +/- 5% |
| 2nd Periodic Rate Change | +/- 2% |
| Lifetime Rate Cap | + 5% |
| Margin | 1.75 |
| 1-year LIBOR Index | fluctuates daily |
When referencing the rate table: *APR denotes Annual Percentage Rate. View all rates.
1 Please contact our Mortgage Consultants for more information.
2 We also offer financing for Construction Draw mortgages under the 1/1 ARM program only.
Rates 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, loan to value, loan purpose, credit score and subordinate financing. Rates apply to loans up to Fannie Mae's conventional mortgage loan limits. Please contact us for specific rate information, mortgage loan limits or down payment requirements at 800.237.7328, extension 3864.
Please Note: Certain loans may be subject to additional pricing and other restrictions.
*Maximum LTV requirements are subject to change at any time. Some products may require minimum credit scores to qualify for maximum LTV loans. All loan amounts greater than 80% are subject to meeting private mortgage insurance requirements.
Condominiums and manufactured homes may have further restrictions. Some property locations may have additional restrictions. Please call our Mortgage Consultants for specific information.
FAQs
How does PSECU’s mortgage process work?
After you submit your mortgage application, a PSECU mortgage specialist will review your application. We’ll answer any questions you may have and, if qualified, provide you with a preapproval letter if you’re purchasing a home. The preapproval 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 preapproval letter.
On average, it takes 45 - 60 days from application date to closing date.
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 preapproval letter.
On average, it takes 45 - 60 days from application date to closing date.
Can I refinance my mortgage?
Mortgage refinancing allows you to pay off your existing mortgage(s) to get a different rate, loan term, or payment. You can also opt to refinance your existing loan and get cash back for another purpose. Please contact us to discuss your options in detail.
What properties are eligible for a PSECU mortgage?
We lend to properties that are:
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 investment properties with one, two, three, or four units
- Condominiums or residences within a Planned Unit Development (PUD) that meet certain criteria1
What properties are not eligible for a PSECU mortgage?
We do not lend to properties that are:
We do not lend to properties that are:
- Single-wide manufactured homes
- Timeshares
- Not in acceptable marketable condition
- Residential investment condo or manufactured homes
- Located outside Pennsylvania
What is a fixed-rate mortgage?
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 current rates are listed below.
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 current rates are listed below.
What is an Adjustable Rate Mortgage (ARM)?
Our Adjustable Rate Mortgage (ARM) products offer a competitive starting rate that’s guaranteed for the first fixed rate period of the loan. This initial rate stays the same for one to seven years, based on the ARM product you select.
After the fixed rate period has expired on an ARM, the interest rate can change every year for the life of the loan. Annual rate adjustments raise or lower the rate within the periodic rate cap limits. ARMs have a lifetime cap, a rate ceiling that the interest rate can never exceed for the life of the loan.
After the fixed rate period has expired on an ARM, the interest rate can change every year for the life of the loan. Annual rate adjustments raise or lower the rate within the periodic rate cap limits. ARMs have a lifetime cap, a rate ceiling that the interest rate can never exceed for the life of the loan.
How do I lock in the interest rate on a mortgage?
Fixed Rate and Balloons:
When applying online, you will have an opportunity to lock your interest rate. If you choose to let the rate float, the interest 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 Pre-Approval applications.
Adjustable Rate:
You will receive the lowest rate in effect from the time of application up to the time of approval.
When applying online, you will have an opportunity to lock your interest rate. If you choose to let the rate float, the interest 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 Pre-Approval applications.
Adjustable Rate:
You will receive the lowest rate in effect from the time of application up to the time of approval.
Does PSECU offer jumbo mortgages?
Yes! We offer jumbo 1-year Adjustable Rate Mortgages (ARMs) of $484,351 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:
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 (not an investment property)
- Titled in the name(s) of individual(s). Living trusts are not acceptable.
What is the Loan-to-Value ratio?
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. Please contact us to discuss your options in detail.
Is there a maximum Loan-to-Value ratio?*
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:
- 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 / 1 unit investment property
- 75% on a 3 to 4 unit owner-occupied / 2 to 4 unit investment 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 investment 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 / investment property and a 2 to 4 unit owner-occupied property
- 70% on a 2 to 4 unit investment 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 investment property
- 65% on a 3 to 4 unit owner occupied / 2 to 4 unit investment 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 investment 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/investment property
- 60% on a 2 to 4 unit investment property
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.