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Home Loans Start Here
You find the home, we’ll find the loan. Our low interest rates, personal service and expert team of home loan professionals at Pacific Service Credit Union in Northern CA will make purchasing a home in CA a pleasant experience. We will pre-approve before you shop, so you can narrow your home search to a comfortable price range. Then, we work closely with you and your realtor through every step of the process to complete your purchase on time. If you need help starting your search or finding a realtor, use our free HomeAdvantage® service.
Compare Mortgages Loans
Fixed-rate mortgages have a fixed amount of time to repay your loan. Typical fixed-rate repayment periods, or terms, are 15, 20 and 30 years. The interest rate for the loan is fixed, or remains the same, throughout the life of the loan. Since the rate and term are fixed, your payment will remain the same for the life of the loan. Fixed rate loans typically make sense for someone who plans to stay in their home long-term or doesn’t like the risk associated with an adjustable rate mortgage.
Adjustable-rate mortgage (ARM)
An adjustable rate mortgage is a loan that has a fixed rate for a period of time before the interest rate may adjust. For example, a typical ARM is a 5/1 loan. That means that the interest rate remains fixed for the first five years and may adjust annually each year after. Whether the rate adjusts up or down depends on market conditions. ARMs typically make sense for someone who may not plan to remain in their home for a long period since the initial rate of an ARM may keep your payments lower than a fixed-rate loan.
Jumbo loans are available for home loans that exceed the conforming limit of $726,000. Jumbo loans are used to purchase high-priced homes in areas where home prices exceed the conforming loan limits. Typically, jumbo loans have different qualification requirements including down payments and debt-to-income ratios.
Get Started Apply for a Mortgage Loan
There’s a few things we may need in order to process your home loan application. We find that it’s helpful to start gathering these documents before starting the application process:
- Prior two months statements from each bank, credit union, mutual fund, 401k or retirement plans
- W-2 forms for the past two years
- 30 days of recent paycheck stubs for each applicant
- Signed Federal tax returns for the last two years including all schedules, worksheets, and attachments