PLCU Home Loan Solutions

Home Loan Solutions* made effortless for the first-time or the experienced homebuyer.

All your home loan needs are now as close as Point Loma Credit Union.  Plus with no application fees or processing fees… PLCU can make even the process of buying your new home a fond memory.

First-Time Homebuyer Program – A 30-year mortgage (90% financed up to the lower of the appraised value or purchase price) that offers a .50% rate reduction for the first three years and reverts back to the original note rate for the remaining 27 years.  PLCU pays non-recurring costs like credit, appraisal and title insurance, etc. (first-time homebuyers only).

NEW Interest Only First Mortgage – With this loan, you only pay the interest accrued.  So, you can live in the home of your dreams for a much lower monthly payment than with a typical home loan.

NEW No Points / No Closing Costs First Trust Deed – PLCU pays the nonrecurring, pass-through closing costs… such as an appraisal, credit report, title insurance, settlement, tax service fees.  $200,000 minimum loan amount required.***

NEW 40-year Fixed Rate Mortgage - With California’s real estate prices continually rising PLCU’s 40-year Fixed Rate Mortgage helps homebuyers and homeowners reduce monthly payments to qualify for a larger loan.  The term is available for conforming fixed-rate loans (loans up to $417,000) and jumbo fixed-rate loans (loans in excess of $417,000).

NEW Non-Owner Occupied Fixed Rate Second Trust Deed – As yet another competitive real estate loan product offered by PLCU, the Fixed Rate Second Trust Deed allows members to receive a closed-ended loan secured by property that is not the borrower’s primary residence. This product offers a combined loan-to-value of 80% with a maximum loan of $150,000.

View our great rates!

Connect to huge cash rebates when you buy or sell a home with the Homebuyers Rebate Program.

View a FREE online home buying seminar.

For additional information, please contact your nearest PLCU branch or the Call Center at (858) 495-3400.

*Private Mortgage Insurance (PMI) is required for loans over 80% loan to value (LTV).  PLCU home loans available on owner occupied, single-family detached residences or town homes located in California.  All rates are subject to change.  Must meet lending criteria.  Other types of fees may apply to some loan products.  The annual percentage rate for HELOCs range from 8.0% to 18.0% and may vary.  There are no fees associated with a HELOC.  Fixed rate 3, 5, and 7 years.  After time frame, rate converts to an adjustable rate (up or down) annually.  Rate index and margin: 1-year T-bill + a margin as low as 2.75%.  Maximum loan limit $4 million.  PLCU membership is open to anyone who lives, works, or worships, in San Diego or Riverside Counties.  A one-time membership fee of $5, plus a $5 minimum savings account deposit is a requirement of membership.  ***Prepayment penalty applies if loan is paid in full within 36 months.