Mortgage Loans

At Parsons Federal Credit Union, we know that buying a new home is one of the most momentous events of your lifetime. And we also appreciate that, when a situation arises, tapping into the equity of your current home can be just as important — and often overwhelming.  We fully understand our members’ mortgage needs — and have tailored a variety of loan options to answer them.

1st Mortgages

In partnership with VARRIS Mortgage Solutions, PFCU offers a full-service First Trust Deed lending program available in all 50 U.S. States. Whether for new purchases or refinancing, our home lending program offers competitive processing costs and a mortgage option that’s right for you. Home must be owner-occupied or a second home, such as a vacation home.

Visit our Mortgage Center for current home loan rates and details on the many mortgage options we offer, plus take advantage of our 1-Minute Mortgage Qualifier to determine your home buying budget!

If you prefer to speak with a Mortgage Loan Representative, please call 877-9-Parsons (877-972-7766).

2nd Mortgages, Fixed and Variable

7 Year, Fixed Rate 2nd Mortgage

If you need $100,000 or less, have equity in your home and want to pay off your equity loan in 7 years or less, this could be the loan for you. You know what your payment will be each month with a fixed rate and that always helps with budgeting! More information on this special loan:

  • A fixed rate
  • No points!
  • No prepayment penalties
  • Low 7 year term
  • Borrow up to 80% of the appraised value of your home less the First Mortgage balance (minimum loan amount, $10,000, maximum $100,000)
  • Potential tax advantages (consult your tax advisor)

Note: Available for Owner-Occupied California Residences Only

10 Year, Fixed Rate 2nd Mortgage

Having options when looking for a second mortgage is important – and no one likes unpleasant surprises when it comes to managing their finances. So we created our 10-year, Fixed Rate 2nd Mortgage for members who prefer knowing what their payment will be each month. Benefits include:

  • A fixed rate
  • No points!
  • No pre-payment penalties!
  • Terms up to 10 years
  • Borrow up to 80% of the appraised value of your home, less the First Mortgage balance (minimum loan amount $10,000)
  • Potential tax advantages (consult your tax advisor)

Note: Available for Owner-Occupied California Residences Only

15-Year Fixed or Variable Rate 2nd Mortgage

This affordable home loan allows you to tap into the equity in your home, and is ideal for a variety of needs, including debt consolidation and more. It offers advantages such as:

  • Fixed or variable rates
  • No points!
  • No prepayment penalties!
  • Terms up to 15 years
  • Borrow up to 80% of the appraised value of your home, less the First Trust Deed (minimum loan amount $10,000)
  • Potential tax advantages (consult your tax advisor)

Note: Available for Owner-Occupied California Residences Only

For complete costs, terms and details, please contact a Parsons Federal Credit Union Loan Officer at 800-765-4527 ext. 385.

IRA RATES ARE UP!

Need an IRA? Take a look at our great rates, as we have just raised them to help our savvy investors!

Click on "Rates" above in the blue bar, then "Deposits" for the rates on all of our savings products.

 Open New Accounts

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