PLCU offers a wide variety of home loan programs to suit your financing needs. Home loans are available on California 1-4 unit residential single family, condo or PUD properties. Interest rates, points, and Annual Percentage Rates (APRs) are subject to change without notice and the interest rate you pay may be different. Mortgage insurance is required on loans over 80% loan-tovalue (LTV). A homeowners insurance policy with PLCU as loss payee and a maximum $1,000 deduction is required at the borrower's expense.
Rates and fees - All loans are subject to loan approval factors including, but not limited to, your loan amount, loan purpose, occupancy, credit history, credit score, income verification, asset verification, property type, property approval, title insurance, loanto-value (LTV), and/or combined loan-to-value (CLTV). The interest rate, fees and Annual Percentage Rate (APR) you receive may be higher than the rates quoted based on your individual factors.
Loan programs - PLCU offers purchase and refinance loan programs. Fixed Rate Mortgages are offered for conforming, highbalance and jumbo loan amounts. Adjustable Rate Mortgages are available up to $4 MM.
Rate lock - You have the option to lock-in or float your interest rate before final loan approval. PLCU offers a fee free 45 day rate lock. Any change in your interest rate and fees, based on the factors above, may affect the interest rate on your loan which will be disclosed to you when they become known to us.
No Lender Cost Option - If you choose this option PLCU will pay closing costs including, but not limited to appraisal, document preparation, recording fees, credit report, Lender's Title Insurance, processing fees, courier fees, Flood Certification, Tax Service, settlement or closing costs, and Notary fee at an interest rate .25% above the applicable zero (0) point rate option. However, you will be obligated to pay for certain third party fees paid on your behalf. You will be provided a list of costs not covered by PLCU including all costs related to paying off your existing loan. A minimum loan amount of $200,000 is required. Early Closure Reimbursement of closing costs: If the loan is paid off within 36 months of origination, you will reimburse PLCU for the closing costs paid on your behalf.