Mortgage Retirement Loan — up to $250,000 (first liens / $100,000 on second liens) (NMLS#512181)
The Mortgage Retirement Loan is intended to help members shorten their mortgage terms to prepare for retirement or just because they want to pay their home off sooner. It’s perfect to consolidate your home equity loans and your first mortgages into one. This loan is a first lien loan- it cannot be in second lien. If you are nearing the end of your mortgage, consider this loan.
- Minimum loan amount: $20,000
- Maximum loan amount: $250,000
- Fixed interest rate (the rate will stay the same throughout the life of the loan)
- CURRENT RATE= as low as 5.875%* (Tiered Rates) 7-year amortization as low as 5.875*, 10-year amortization as low as 6.375%*, 12-year amortization as low as 6.375%*, 15-year amortization as low as 6.625%*
- Fixed Terms: Minimum 7-year (or 10-, 12-, 15-year terms also available). (Sample: 120 monthly payments of $52.44 per $5000 borrowed at 4.75% APR)
- Ask us how much equity in your home is needed (80% ltv)
- Payment amount: Minimum $50 to principal.
- Annual fee: $0
- Flat fee of $395, unless an appraisal is required. If an appraisal is required member is responsible for cost. Flat fee of $395 should save members hundreds in loan fees (between $400 and $1,108 in loan fees).
- Owner occupied properties only (property can be located anywhere in Oregon)
- No Balloon option available
- Perfect for securing a first-lien loan with your home to obtain a low interest rate and pay it off quickly.
Second Lien (Home Equity Option):
- Minimum loan amount: $5,000
- Maximum loan amount: $100,000
- Current rate: 7.625%* APR (as low as rate)
- Fixed Terms: minimum 10-year (15-year term also available). (Example: 120 monthly payments of $52.44 per $5000 borrowed at 4.75% APR)
- Ask us how much equity in your home is needed (85% ltv)
- Payment amount: Minimum $50 to principal
- NO Annual Fee
- For owner occupied properties only (property can be located anywhere in Oregon)
- No Balloon option available
- Perfect for home improvement or funds needed for emergencies
For your current rate(s), see our rate sheet.
*Rates shown are Annual Percentage Rates (APR). Rates will vary depending on credit condition, term of loan, lien position and payment option. As low as rates are based on credit score of 680 and above. All Loans are subject to approval. Regular terms and conditions apply. Rates shown are subject to change without notice. See our Home Equity disclosure for details or call us at 800-477-3328. Loan terms available may vary depending on amount borrowed, credit history, or payment method. Call or see branch for details. PCFCU is an Equal Opportunity Lender. See your professional tax advisor for tax advantages, advice and/or question(s).
Fraud is alive and booming in all areas of our life. Folks acquiring mortgage loans are targets for sure. Here’s a quick read pamphlet with some great clues on how to avoid fraudsters. Of course, we’re always here to answer any questions and to help. Here’s the Quick Read Pamphlet. Thank you to our friends at First American Title.
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