Mortgage Loans

At Parsons Federal Credit Union, we understand that buying a new home or even tapping into the equity of your current home, is a big decision. That's why we have tailored a variety of loan options to help you every step of the way.

Planning for your retirement and considering mortage payment options? If you are planning to retire in the next 10 to 20 years, you can refinance your current mortgage to match your desired retirement date so you can retire mortgage-free. PFCU has fixed rate mortgages for 10, 15 and 20 year terms. Speak with one of our Mortgage Loan Representatives or contact VARRIS Mortgage Solutions today to find out how.

 First Mortgages

In partnership with VARRIS Mortgage Solutions, PFCU offers a full-service First Trust Deed lending program available in California only. 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 One-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).

 Second Mortgages, Fixed and Variable

Fixed Rate, 7-Year Second Mortgage*

If you need $100,000 or less, have equity in your home, and want to pay off your equity loan in seven (7) years or less, this could be the loan for you. With a fixed rate, you know what your payment will be each month. Here are some of the features and benefits:

  • A fixed rate
  • No points
  • No prepayment penalties
  • Low seven-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)

*Available for owner-occupied California residences only.

Fixed Rate, 10-Year Second Mortgage*

Having options when looking for a second mortgage is important. That's why we also offer a fixed-rate, ten-year mortgage option. Here are some of its features and benefits:

  • 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)

 *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. Here are some of its features and benefits:

  • 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)

 *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.

New Website

February 16, 2016 is when we will unveil the new website! It features streamlined Online Banking login, online loan applications, and more.

 

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