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Equity Loans Offer Low Rates With No Application Fee
and No Closing Costs!
PFFCU offers a variety of Home Equity Loans with terms as short as 5 years, and as long as 20 years. Typically, the longest term will offer you the lowest payment.
With a PFFCU Home Equity Loan you can:
• Pay no application fee, closing costs or points, which will save you money, and you can close your loan in a branch1.
• Finance up to 80% of your primary home's value2 for up to 20 years less any outstanding mortgage balances! The maximum loan amount is $600,000.
• Finance up to 95% of your home's value for up to 15 years less any outstanding mortgage balances! The maximum loan amount is $50,000.
• Opt for Automatic Payment and enjoy the convenience of having your loan payment deducted from your account as well as saving money with our 1/4% rate discount (for loans with Loan-To-Values [LTV] of 80% or less)!
Our 5, 10, and 15 year Home Equity Loans offer great, low, fixed rates. We offer 20-year fixed-rate and 20-year adjustable-rate options. With our 20-year 7/20 adjustable-rate Home Equity Loan, the initial APR and payments are fixed for 7 years, then an adjustable rate which may change annually.
Call 215/931-0300 or 800/228-8801 or stop into one of our conveniently
located branches. Apply by phone, in person, or
online during
branch hours, and you'll receive a loan decision within one business day. If you
would like to estimate your payment, go to our Monthly
Payment Calculator.
Loan Protection Insurance
Credit life insurance is
designed to pay off the loan if the borrower dies, while credit disability
insurance takes over the loan payments if the borrower becomes disabled.
Certain restrictions may apply. For more information
on credit life and disability insurance, please give us a call at
215/ 931-0300
or 800/228-8801. Loan protection insurance is optional and is not
required to be approved for a loan.
How
Loan-To-Value (LTV) ratio is Calculated
LTV is calculated based upon your loan amount plus any outstanding
liens. This combined amount is divided by the appraised value of
your home. The resulting ratio will be a factor in determining
your interest rate and how much you can borrow.
1 Members must pay $100 towards the appraisal of an investment property.
2 Single-family owner-occupied vacation properties have a maximum loan-to-value of 80%. Investment properties have a maximum loan-to-value of 70%, and must be owned for a minimum of 24 months. |
