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.

Features Include

  • 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

Acceptable 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
Unacceptable 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 3.75% variable APR applies for loan-to-value (LTV) up to 80%. For a LTV greater than 80% up to 90%, the variable rate is 4.25% APR. There is a five-year advance period with a twenty-year repayment term (ten-year repayment on rental properties) from the date of the last advance. The minimum line of credit amount is $5,000. The minimum advance amount is $500.The monthly payment may vary. The variable 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 4.115% fixed APR applies for a 60-month term and LTV up to 80%. For a LTV greater than 80% up to 90% the fixed APR is 4.615% for 60 months. The 4.865% fixed APR applies for a 120-month term and LTV up to 80%. For a LTV greater than 80% up to 90% the fixed APR is 5.365% for 120 months.