Mortgages
Through July 31, 2023, pay only $3501 in origination fees, plus no appraisal fee! Getting into a new home or refinancing a mortgage in Pennsylvania just got easier with this limited-time offer. You can apply for prequalification even if you’re not a PSECU member yet!
Buying your first home?
We have a special mortgage just for you – up to 100% financing and no Private Mortgage Insurance required with our First-Time Homebuyer loan!2
Learn more about PSECU's First-Time Homebuyer Mortgage
Adjustable-Rate Mortgages for any budget
Choose one of four ARM options with an initial fixed rate period. After the initial 1, 3, 5, or 7-year period, the rate can increase or decrease in any one year by just 1%. See rates
Learn more about ARMs
Fixed-Rate Mortgages with multiple term options
Get predictable monthly payments with a fixed-term mortgage. Terms include 10, 15, 20, 25, and 30 years.
See rates
Need a larger loan? Check out our jumbo loans.
How to Get a Mortgage with PSECU
Have questions before you begin? Contact one of our mortgage consultants today at 800.237.7328, extension 3878.
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.
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.
Fixed Mortgage Rates
| Description | Rates As Low As | APR* | Monthly Payment Example |
|---|---|---|---|
| 10 Year Fixed Rate | 6.250% | 6.425% | $11.24/per $1000.00 |
| 15 Year Fixed Rate | 6.250% | 6.394% | $8.58/per $1000.00 |
| 20 Year Fixed Rate | 6.375% | 6.491% | $7.39/per $1000.00 |
| 25 Year Fixed Rate | 6.750% | 6.851% | $6.92/per $1000.00 |
| 30 Year Fixed Rate | 6.750% | 6.840% | $6.49/per $1000.00 |
Additional terms and rates are available with the purchase of points. Please contact a mortgage consultant for more information at 800.237.7328 ext 3878.
*APR denotes Annual Percentage Rate. The APR reflects the total cost of the loan and takes into consideration not only the interest rate, but other charges or fees such as mortgage insurance, some closing costs, and points. The APR represents the annual cost of the loan stated as a percentage.
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, loan to value, loan purpose, occupancy, credit score, and subordinate financing. Rates apply to loans up to Fannie Mae’s conforming mortgage loan limits. Mortgage loan payment example: 10 year fixed 0 points of $11.24 per $1,000 borrowed at the 6.425% APR; 15 year fixed 0 points of $8.58 per $1,000 borrowed at the 6.394% APR; 20 year fixed 0 points of $7.39 per $1,000 borrowed at the 6.491% APR; 25 year fixed 0 points of $6.92 per $1,000 borrowed at the 6.851% APR; 30 year fixed 0 points of $6.49 per $1,000 borrowed at the 6.840% 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-Rate Mortgage Rates
| Description | Initial Rates As Low As | APR* | Margin | Monthly Payment Example |
|---|---|---|---|---|
| 30-Year 1/1 Adjustable | 5.250% | 7.497% | 2.75% | $5.53/per $1000.00 for 1st year, 1 year ARM after |
| 30-Year 3/1 Adjustable | 5.375% | 7.146% | 2.75% | $5.61/per $1000.00 for 3 years, 1 year ARM after |
| 30-Year 5/1 Adjustable | 5.500% | 6.891% | 2.75% | $5.69/per $1000.00 for 5 years, 1 year ARM after |
| 30-Year 7/1 Adjustable | 5.625% | 6.710% | 2.75% | $5.76/per $1000.00 for 7 years, 1 year ARM after |
Additional terms and rates are available. Please contact a mortgage consultant for more information at 800.237.7328 ext 3878.
*APR denotes Annual Percentage Rate. The APR reflects the total cost of the loan and takes into consideration not only the interest rate, but other charges or fees such as mortgage insurance, some closing costs, and points. The APR represents the annual cost of the loan stated as a percentage.
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 conforming 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. The maximum the rate can increase or decrease in any one year is 1%. The lifetime cap is 5% higher than the initial rate and the rate will not go below the margin. 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 $5.52 per $1,000 borrowed at 5.250% for the first 12 payments; 12 payments of $6.14 per $1,000 borrowed if the rate adjusts to the annual maximum of 6.250%; 12 payments of $6.78 per $1,000 borrowed if the rate adjusts to the annual maximum of 7.25%; 12 payments of $7.42 per $1,000 borrowed if the rate adjusts to the annual maximum of 8.25%; 12 payments of $8.08 per $1,000 borrowed if the rate adjusts to the annual maximum of 9.25%; 299 payments of $8.74 per $1,000 borrowed if the rate adjusts to the ceiling at 10.25%. 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.
Jumbo Fixed Mortgage Rates
Loans from $726,201 up to 2.5 million
| Description | Rates As Low As | APR* | Monthly Payment Example |
|---|---|---|---|
| Jumbo 10 Year Fixed | 5.750% | 5.776% | $10.99/per $1000.00 |
| Jumbo 15 Year Fixed | 5.750% | 5.768% | $8.31/per $1000.00 |
| Jumbo 20 Year Fixed | 5.875% | 5.890% | $7.10/per $1000.00 |
| Jumbo 25 Year Fixed | 6.250% | 6.263% | $6.61/per $1000.00 |
| Jumbo 30 Year Fixed | 6.250% | 6.261% | $6.17/per $1000.00 |
Additional terms and rates are available with the purchase of points. Please contact a mortgage consultant for more information at 800.237.7328 ext 3878.
*APR denotes Annual Percentage Rate. The APR reflects the total cost of the loan and takes into consideration not only the interest rate, but other charges or fees such as mortgage insurance, some closing costs, and points. The APR represents the annual cost of the loan stated as a percentage.
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, loan to value, loan purpose, occupancy, credit score, and subordinate financing. Rates apply to loans greater than Fannie Mae’s conforming mortgage loan limits up to 2.5 million dollars. Mortgage loan payment example: 10 year fixed 0 points of $10.99 per $1,000 borrowed at the 5.776% APR; 15 year fixed 0 points of $8.31 per $1,000 borrowed at the 5.768% APR; 20 year fixed 0 points of $7.10 per $1,000 borrowed at the 5.890% APR; 25 year fixed 0 points of $6.61 per $1,000 borrowed at the 6.263% APR; 30 year fixed 0 points of $6.17 per $1,000 borrowed at the 6.261% 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.
Jumbo Adjustable-Rate Mortgage Rates
Loans from $726,201 up to 2.5 million
| Description | Initial Rates As Low As | APR* | Margin | Monthly Payment Example |
|---|---|---|---|---|
| Jumbo 30-Year 1/1 Adjustable | 5.250% | 7.418% | 2.75% | $5.53/per $1000.00 for 1st year, 1 year ARM after |
| Jumbo 30-Year 3/1 Adjustable | 5.375% | 7.070% | 2.75% | $5.61/per $1000.00 for 3 years, 1 year ARM after |
| Jumbo 30-Year 5/1 Adjustable | 5.500% | 6.817% | 2.75% | $5.69/per $1000.00 for 5 years, 1 year ARM after |
| Jumbo 30-Year 7/1 Adjustable | 5.625% | 6.637% | 2.75% | $5.76/per $1000.00 for 7 years, 1 year ARM after |
Additional terms and rates are available. Please contact a mortgage consultant for more information at 800.237.7328 ext 3878.
*APR denotes Annual Percentage Rate. The APR reflects the total cost of the loan and takes into consideration not only the interest rate, but other charges or fees such as mortgage insurance, some closing costs, and points. The APR represents the annual cost of the loan stated as a percentage.
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 greater than Fannie Mae’s conforming mortgage loan limits up to 2.5 million dollars. 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. The maximum the rate can increase or decrease in any one year is 1%. The lifetime cap is 5% higher than the initial rate and the rate will not go below the margin. 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 $5.53 per $1,000 borrowed at 5.25% for the first 12 payments; 12 payments of $6.14 per $1,000 borrowed if the rate adjusts to the annual maximum of 6.25%; 12 payments of $6.78 per $1,000 borrowed if the rate adjusts to the annual maximum of 7.25%; 12 payments of $7.42 per $1,000 borrowed if the rate adjusts to the annual maximum of 8.25%; 12 payments of $8.08 per $1,000 borrowed if the rate adjusts to the annual maximum of 9.25%; 299 payments of $8.74 per $1,000 borrowed if the rate adjusts to the ceiling at 10.25%. 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 you're 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. Throughout the process, our mortgage consultants will keep you up to date regarding the status of your loan to make sure everything is on track. After closing, we’ll service your loan through the life of your mortgage.
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. Throughout the process, our mortgage consultants will keep you up to date regarding the status of your loan to make sure everything is on track. After closing, we’ll service your loan through the life of your mortgage.
We will finance properties that are:
We will not finance 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. Some exceptions apply.
- Condominiums or residences within a Planned Unit Development (PUD) that meet certain criteria. Please contact our mortgage consultants for more information.
We will not finance properties that are:
- Single-wide manufactured homes
- Timeshares
- Not in acceptable marketable condition
- Non-owner-occupied condo or manufactured homes
- Located outside Pennsylvania
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.
Mortgage Definitions
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.
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 mortgages (ARMs) offer a competitive starting rate that is fixed for either 1, 3, 5, or 7 years, depending on the terms of the loan. After the initial fixed period, the rate can adjust annually. Caps for the adjustable-rate mortgages are 1/5, which means your interest rate will not adjust more than 1% up or down per year after the initial fixed-rate period. The rate will increase no more than 5% from the initial rate over the life of the loan. Contact us to discuss your specific situation.
Each point is equal to one percent of the loan amount. The cost of points is added onto closing costs and may buy down to a lower interest rate than what is posted. Please contact a mortgage consultant for more information.
Private Mortgage Insurance (PMI) is generally required for loans with a loan-to-value (LTV) ratio 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.
1Mortgage Origination Fee Discount Offer Terms and Conditions
From 4/1/2023 to 7/31/2023, PSECU is running an origination fee discount offer of $200. To receive $200 off the origination fee, the applicant must apply for a new mortgage loan or apply to refinance a current mortgage loan between the dates of 4/1/2023 and 7/31/2023 and satisfy each of the requirements listed below. New construction loans are not eligible for this origination fee discount offer. Promotion open to U.S. Residents who are 18 years of age or older at the time of applying for a mortgage loan for a property located within Pennsylvania. Limit one (1) origination fee discount offer per mortgage loan. All decisions of PSECU regarding this promotion are final. PSECU may terminate or change the terms and conditions of this promotion without notice. Subject to all applicable federal, state, and local laws and regulations. Applicant must provide all required documentation to complete loan application and must be a PSECU member or become a PSECU member. Approval for mortgage loan is subject to PSECU underwriting criteria.
2Additional options for first-time homebuyer products/terms available. PMI may be required. Contact one of our mortgage consultants to find out which one is right for you.
From 4/1/2023 to 7/31/2023, PSECU is running an origination fee discount offer of $200. To receive $200 off the origination fee, the applicant must apply for a new mortgage loan or apply to refinance a current mortgage loan between the dates of 4/1/2023 and 7/31/2023 and satisfy each of the requirements listed below. New construction loans are not eligible for this origination fee discount offer. Promotion open to U.S. Residents who are 18 years of age or older at the time of applying for a mortgage loan for a property located within Pennsylvania. Limit one (1) origination fee discount offer per mortgage loan. All decisions of PSECU regarding this promotion are final. PSECU may terminate or change the terms and conditions of this promotion without notice. Subject to all applicable federal, state, and local laws and regulations. Applicant must provide all required documentation to complete loan application and must be a PSECU member or become a PSECU member. Approval for mortgage loan is subject to PSECU underwriting criteria.
2Additional options for first-time homebuyer products/terms available. PMI may be required. Contact one of our mortgage consultants to find out which one is right for you.