NO NONSENSE MORTGAGES
Getting a mortgage can be challenging. But we help you every step of the way with experienced professionals who can guide you to the mortgage that’s right for you. They work with all parties involved, including the appraiser, settlement agents, and real estate agents, to keep the process on track.
Apply for a Fixed-Rate or Adjustable-Rate mortgage and lock in your interest rate. You could receive up to $1,200 off* mortgage closing costs.Apply Now
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We have the right mortgage option for you.
We make it easy to help you make one of life’s biggest purchases.
You need a mortgage that works for you. Your personal Mortgage Specialist will walk you through the process and help find a mortgage that fits your specific needs. We offer a wide range of mortgages including:
- Programs for first-time homebuyers
- Fixed-Rate Mortgages
- Adjustable-Rate Mortgages (ARMs)
- FHA Mortgages
- Remodeling Mortgages
- Construction/Permanent Mortgages
- Refinance Mortgages
Apply in minutes
One quick form and you’re done.
Apply Online and get pre-approved for your mortgage in less than 2 business days.
Call to make an appointment at 610.797.7440 extension 612.
First Heritage Realty Alliance
Experienced agents you can count on. We work with First Heritage Realty Alliance to help you find the perfect home. They’ll represent you through all stages of the purchase and contract process. When you’re ready to sell your home, First Heritage helps you through every step of the process from property preparations for “curb appeal” to Open House showings to purchase negotiations.
When you’re ready to start looking for a home, save time and money by calling one of our First Heritage Realty Alliance agents. Elissa Pallo or Deb Confer will guide you through your homebuying or selling journey.
At application, each applicant will need:
• W-2 for last two years and one months’ recent pay stubs
• Place of residence for the last two years
• Employer name, address, and phone number for the last two years
• If this is a purchase, fully executed agreement of sale signed by both buyer(s) and seller(s)
• Bank names, account numbers and balances
• Most recent bank statements for the last month, all pages
• An appraisal will be conducted for a minimal fee
• If self-employed, last two years’ tax returns with all schedules
• Green card for permanent resident aliens
• Account numbers, addresses, balances/monthly payments on all open loans and credit cards
Points, also referred to as discount points, are an upfront interest paid to buy a lower rate on the mortgage for the term of the loan. A point is expressed as a percentage of the total loan amount. For example, on a loan amount of $100,000, one point would be equal to $1,000 or two points would be equal to $2,000. This amount would be paid at closing in addition to the down payment and other closing costs.
Points are not beneficial to every borrower and need to be evaluated on a case-by-case basis. To determine if it is beneficial to you to pay points, you need to first calculate the principal and interest payment for the loan amount based on a rate with 0 points and then also, a payment based on a rate with points. The difference in the two payments is the amount you will save by paying points.
The next step is taking the total cost of the points and divide by your monthly savings. This figure shows you how many months it will take to recoup the costs of the points. If you plan on being in your home longer than it takes to recoup the costs and can afford to pay the points, then it is an advantage to you. However, if not, then you are better off to take a rate without points.
Private Mortgage Insurance (PMI) is required for all mortgage loans with less than a 20% down payment. This insurance is included in your monthly payment and protects the lender in the case of default.
With a fixed rate mortgage, the interest rate remains constant over the life of the loan. Whereas, with an adjustable-rate mortgage, the interest rate can either increase or decrease, based upon the terms of the loan. This could cause the monthly payments to increase in order to have the loan paid in full by maturity.
The lock-in represents the interest rate you will receive on your mortgage and will be the interest rate used to calculate your monthly payment. The lock-in secures the interest rate during the process of your loan approval as long as your loan is processed and closed prior to the rate expiration date. This date is given to you when you lock-in the rate.
You can lock or float your interest rate at any time during the processing of your loan. The loan officer will discuss these options with you upon taking your loan application.
The origination fee is charged by the lender and is typically 1% of the loan amount you borrow. This fee is used to cover expenses during the processing of the loan.
Processing and underwriting for People First Mortgages are provided through our partner, First Heritage Financial, LLC.
*Members who apply for a mortgage and lock in their interest rate will receive Lender Credits of up to $500 towards appraisal fee, up to $300 towards application fee, and up to $400 towards processing fee; Total of up to $1,200. Rates cannot be locked on purchase loans until you have a signed sales contract on a specific property. All other standard fees will apply. Offer may end at any time. Offer on conventional mortgage applications only. Property must be a 1-4 family primary residence. Loans subject to credit approval and collateral conditions. Loan to value cannot exceed 90%. Property insurance required. Membership eligibility required. Cannot be combined with any other promotional offers. People First Federal Credit Union NMLS# 510017.