Mortgage Loan

Mortgage Loans

Whether you are a first-time homebuyer or looking to refinance your existing mortgage, you can count on the knowledgeable staff at LRRCU to find the best mortgage loan for you.

We offer a variety of different mortgages with great rates and easy plans. You can also receive a pre-approval, which assists you in determining the house you can afford and puts you ahead of the competition.

LRRCU offers fixed-rate mortgage loans to help you get into the home you’ve been dreaming of at a price you can afford, and offers lower rates and fees than many other lenders, and our dedicated mortgage consultant will help you through the entire process.

Types of Mortgage Loans offered:

  • Conventional: Purchase and Refinance

    • Loans are not insured or guaranteed by the federal government in any way
    • Ideal for borrowers with good or excellent credit in order to qualify for the best interst rates
    • Follows fairly conservative guidelines for borrower credit scores, minimum down payments, and debt-to-income ratios
  • FHA: Purchase and Refinance

    • The Federal Housing Administration is managed by the Department of Housing and Urban Development (HUD), a department of the federal government
    • Available to all types of borrowers, not just first-time buyers
    • The government insures the lender against losses that might result from borrower default
    • Allows you to make a downpayment as low as 3.5% of the purchase price
  • PHFA: Purchase and Refinance

    • The Pennsylvania Housing Finance Agency is a state agency benefitting residents of Pennsylvania
    • Allows participating lenders to offer a variety of loans to borrowers including: Conventional, FHA, VA, and Rural Housing Services loans
    • After a lender funds the loan, the PHFA purchases the loan and performs servicing
    • Allows borrowers to take advantage of better conventional terms if they qualify, but still receive the benefits of a PHFA loan
  • VA: Purchase and Refinance

    • The U.S. Department of Veterans Affairs offers a  loan program to military service members and their families
    • Guaranteed by the federal government, meaning the VA will reimburse the lender for any losses that may result from borrower default
    • Eligible borrowers receive 100% financing for the purchase of a home with no down payment whatsoever
  • USDA: Purchase and Refinance

    • The United States Department of Agriculture offers this for rural borrowers who meet certain income requirements
    • This program is managed by the Rural Housing Services, a part of the USDA
    • Offered to rural residents who have a steady, low, or modest income, but are unable to obtain adequate housing through the conventional financing option
    • Eligible borrowers must not have an income that is higher than 115% of the adjusted area median income

Ask one of our member services representatives for more information today by sending inquiries to  info@LRRCU.org or by calling 717-295-6685.

First Mortgage Program

We offer a variety of mortgage loans with great rates and easy plans for your convenience. You also have the option to receive a pre-approval which assists you in determining the house you can comfortably afford and puts you ahead of the competition.

Apply for a Mortgage Now

Step-by-Step Mortgage Loan Process

First Mortgages Rates

RatePoints
30 Year Conventional Fixed4.25%0 points
15 Year Conventional Fixed3.25%0 points

APR = Annual Percentage Rate / DTI = Debt to Income Ratio
*Rates & Terms are Determined by Credit Score & Subject to Change Without Notice

Learn more about the best program for you with our mortgage brochure or go back to our Mortgage Center.


 

Before you apply for a mortgage with LRRCU:

 

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The phones are currently down for all offices, we are aware of the situation and working diligently to resolve this issue as soon as possible. If you need account information you can still call out to our call-24 number (717)-553-5082 or you can login into your online banking and send us an email that way. We apologize for the inconvenience.