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.

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