Fixed Rate Mortgage

The interest rate never changes and the payment remains the same (fixed) for life of the loan.  You can look at terms to fit your budget. Up to 30 year fixed rate options available with our lending partner. There are no prepayment penalties and escrow options for taxes and homeowners insurance are available.

Adjustable-Rate Mortgage (ARM)

ARM loans offer lower interest rates during the initial term of your loan with a rate that is fixed for 3, 5, or 7 years. Rates are then adjusted accordingly to the market. The rate is fixed for the initial period, and can be adjusted annually each year after, up to a 30 year amortization. The interest rate is guaranteed not to increase more than 2% per year or 6% over the life of the loan. There are no prepayment penalties and escrow options for taxes and homeowners insurance are available.

Land Loans

Fixed or adjustable rate options are available for land loans. Minimum down payment of 15%. There are no prepayment penalties and escrow options for taxes are available.

Use the equity in your home for home improvements, vacations, tuition, weddings, landscaping, new car, bill consolidation, improvements to increase the value of your home, or whatever you choose.  You’re only charged interest when you have an outstanding balance.

*Adjustable Rates

Fixed term second mortgage options available. Ask for details.

Home construction loans typically require interest-only payments during construction. Once the certificate of occupancy is in your hands, permanent financing is arranged. Loan approval is based on your plans, appraised value and credit qualifications. As the construction is completed, the contractor and/or material suppliers are paid in periodic installments by our construction processing team, with interest charged monthly on the total amount disbursed to date.

*Adjustable rate option also available. See a Loan Officer for details.

Peoples Choice Credit Union is able to offer many low to no money down programs to our members through our lending partner. Please contact a loan officer today for more information.