FIRST MORTGAGE LOANS
Features and Benefits
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The Police Credit Union knows the value of establishing roots in a community. We help police and their families become part of the fabric of a neighborhood so they can contribute meaningfully and improve their quality of life with competitive options for first time homebuyers.
- Highly competitive rates
- Wide variety of terms, including fixed, adjustable, and more
- Friendly and personal service, with non-commissioned loan officers, so you get honest, objective guidance
- Loans available with a downpayment as low as 3%*
- Options including a 15/15 Adjustable Rate Mortgage (ARM) loan amortized over 30 years, with a low fixed rate for 15 years, adjusting once for an additional 15 years**
*Private mortgage insurance (PMI) is required for LTVs greater than 80%. Members must meet CU guidelines for approval. Final approval required.
**15/15 Adjustable Rate Mortgage (ARM), amortized over 30 years and fixed for the first 180 months, adjusting to the 10 Year Constant Maturity Treasury Bill plus a margin (2.75% conforming balance, 3.00% jumbo balance) in the 16th year with a 6.00% adjustment cap. Minimum qualifying credit score of 680 required. Other credit qualifications apply, contact a loan officer for more information.