Mortgage Features
- Flexible terms up to 30 years
- No points
- No closing costs on fixed-rate loans up to $30,000 for 10 years or less
- Low Fixed-Rate and Adjustable-Rate Mortgages (ARM) available1
- Down payments as low as 3%2
- Interest earned on your escrow account
Mortgage Refinancing
Refinancing your mortgage with Point Breeze Credit Union could save you thousands—it’s a great way to save money and/or pay off your debt faster. Refinance your existing home loan using a fixed-rate program and lock in a low interest rate. Refinance using an adjustable-rate program and enjoy a lower initial rate. The choice is yours.
Predictable Monthly Payments
A fixed-rate mortgage offers a steady interest rate and predictable monthly payments for the life of the loan. Options are available for both conventional and jumbo mortgages. Fixed-rate mortgages are a great option if:
- You prefer the stability of a fixed principal/interest payment
- You plan to stay in your house for many years
Low Initial Interest Rates
With an adjustable-rate mortgage, the initial interest rate is usually lower than a conventional fixed-rate mortgage, so you can save money at the start of your loan. After a pre-determined period of time, the interest rate can change based on market conditions at the time of the change. Adjustable-rate mortgages are a great option if:
- You are planning to move in a few years (before the end of the initial rate period) and therefore aren't concerned about possible rate increases
- You expect your income to rise enough in the coming years to cover any increase in payments resulting from an increase in the interest rate
- You want a lower initial monthly payment than a fixed-rate mortgage usually offers
- You think interest rates may fall in the future
Credit qualifications and approval are required. 1Properties must be located in Maryland, Pennsylvania or Delaware. 2Minimum credit score is 620, maximum debt-to-income ratio is 45% and maximum loan amount is $647,200 to qualify for 3% down payment.