Real Estate Equity Loan
A Real Estate Equity Loan is a closed-end loan with a fixed-rate over the life of the loan. You'll receive a lump sum with a predictable payment. We offer five- and ten-year terms. Please consult a qualified tax advisor to determine if the interest may be tax deductible.
- Borrow up to 90% of the appraised value, less any liens on the property being mortgaged.
- PSECU must be 1st or 2nd lienholder.
- Minimum loan amount $5,000. Existing PSECU equities may be refinanced for additional funds of $5,000 or more.
- Fixed interest rate based on Loan-to-Value.
- Equities on land are offered subject to restrictions. Please contact us for details and a paper application.
- Purchase transactions are limited to unimproved land
Types of Properties
- Currently owned 1, 2, 3 or 4-unit properties located in Pennsylvania
- Condominiums or townhouses
- Vacation homes
- Doublewide mobile homes built after June 1976, on permanent foundation, title retired
- Residential investment properties
- Commercial properties
- Properties located outside of Pennsylvania
- Properties with cesspools, cisterns, spring water
- Properties with gravity heat
- Properties located in an industrial zoned area
- Time-share properties
- Singlewide mobile homes
- Properties owned by a trust as identified on the deed
- Properties listed for sale within the last 6 months
- Properties with gas, oil or coal mining
- Properties with certain business operations
Annual Percentage Rate. HOME EQUITY LINE OF CREDIT The 3.50% APR variable rate applies for loan-to-value (LTV) up to 80%. For a LTV greater than 80% up to 90%, the variable rate is 4.00% APR. Five-year advance period with a twenty-year repayment term (ten-year repayment on rental properties) from the date of the last advance. Minimum credit line amount $5,000. Minimum advance $500. Interest rate is variable. Monthly payment may vary. Interest rate will be equal to the prime rate or prime rate plus .5% as published in the last issue of the Wall Street Journal on the last day before the most recent full calendar month. The maximum APR is 18%. The minimum APR is 3%. REAL ESTATE EQUITY LOAN The 3.99% APR is a fixed rate for a 60-month term and LTV up to 80%. All real estate equity (REE) loan rates are fixed: 4.49% APR for 60 months, LTV greater than 80% up to 90%; 4.74% APR for 120 months, LTV up to 80%; and 5.24% APR for 120 months, LTV greater than 80% up to 90%.