We are here to help you every step of the way!
When it coms to Home Mortgage Loans, Hershey FCU has you covered.
- Competitively low rates for home purchase, or refinance
- Available for primary residence, second homes, vacation homes, or investment properties
- A wide range of terms and financing programs available:
- Fixed rate mortgages
- Adjustable rate mortgages (ARMs)
- USDA Rural Housing Loans
- Conventional Loans
- Fixed rate mortgages
- Helpful loan advisors can assist with working knowledge of the local real estate market
- Free pre-approval for extra confidence when it comes to securing financing
- Local decision-making and processing in South Central Pennsylvania
First Time Home Buyer
First Time Homebuyer Program - Home Possible
A responsible, low down payment loan for first-time homebuyers and low and moderate income borrowers.
- The minimum 3% down payment can be gifted - does not have to come from borrowers funds
- No reserve requirement
- Reduced mortgage insurance requirements
- No FICO indicator score/LTV adjustment for credit scores above 680. Program delivery fee of a maximum of 1.50 pts for credit scores from 620 to 679.
- Minimum FICO 620 (or as determined by LP)
- Minimum down payment 3% - can be a gift
- Free Homeownership Education
- Consent to permit non-profit third party homeownership counseling if mortgage payments become delinquent
- Primary Residence
- Fixed Rate
- Single family, condominiums and PUD's
- 97% LTV
- 43% debt-to-income ratio or as determined by LP
- The borrowers' annual income cannot exceed 80% of the area median income limits
- Non-occupying borrowers are permitted
* First Time Homebuyer is an individual who is purchasing the mortgaged premises, will reside in the mortgaged premises as a Primary Residence, had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the mortgaged premises. In addition, a displaced homemaker or a single parent may also be considered a First-Time Homebuyer if the individual had no ownership interest in a residential property during the preceding three-year period other than an ownership interest in the marital residence with a spouse. If a displaced homemaker or a single parent solely owned the marital residence, or solely or jointly owned a second home or investment property, the individual may not be considered a First-Time Homebuyer.
Mortgage Refinance Program
Refinance your current home to potentially lower your rate!
In many cases, homeowners refinance to take advantage of lower market interest rates, cash out a portion of their equity, or to reduce their monthly payment with a longer repayment term.
There are many reasons to refinance:
- If you’re looking to pay off your loan quicker with a shorter term.
- If you want to convert a variable loan rate to a fixed, and obtain a lower interest rate.
- You want to refinance your home into a loan without mortgage insurance.
- You’re looking to utilize a cash-out refinance.