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Last Updated: 04/18/2025

Penn State FCU 1st Lien Home Equity Loan

from Penn State Federal Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

N/A

Maximum LTV

80%

Loan Term (Years)

5 - 15

Penn State FCU 1st Lien Home Equity Loan Review

Penn State FCU 1st Lien Home Equity Loan is offered by Penn State Federal Credit Union (NMLS #401924), a credit union founded in 1959 and based in Bellefonte, PA. Penn State FCU 1st Lien Home Equity Loan are available in 1 state.

Key Takeaways

Only primary residences considered. Penn State FCU 1st Lien Home Equity Loan does not offer financing for vacation homes or investment properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Origination fees starting at $375.00.Origination fees are deducted from the loan amount, so take it into account when deciding how much you need to borrow.
Maximum LTV. Penn State FCU 1st Lien Home Equity Loan has a maximum loan to value ratio of 80%.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Penn State FCU 1st Lien Home Equity Loan.

Penn State FCU 1st Lien Home Equity Loan Pros & Cons

Pros

Cons

Charges an origination fee.
Charges prepayment fees.
Only available in 1 state.

Penn State FCU 1st Lien Home Equity Loan FAQ

What are the home equity loan requirements of Penn State FCU 1st Lien Home Equity Loan

This lender's maximum loan to value rate is 80%. That means the total debt secured by the property cannot exceed 80% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $60k.

Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What fees does Penn State FCU 1st Lien Home Equity Loan charge for a home equity loan?

Penn State FCU 1st Lien Home Equity Loan may charge a loan origination fee of $375.00.

What types of property can you use as security for a home equity loan with Penn State FCU 1st Lien Home Equity Loan?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. Penn State FCU 1st Lien Home Equity Loan will consider loans secured by the following property types:

Primary home.

Is Penn State Federal Credit Union a legit company?

Penn State Federal Credit Union was founded in 1959, it is a well-established company that has been in business for 67 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

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Contact

Headquarters

123 Amberleigh Ln

Bellefonte, PA 16823

(814) 865-7728

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Email Support

Hours of Operation

SundayClosedMonday9:00AM - 4:00PMTuesday9:00AM - 4:00PMWednesday9:00AM - 4:00PMThursday9:00AM - 4:00PMFriday9:00AM - 4:00PMSaturdayClosed

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Credit Score Range

N/A

Amount Range

N/A

Maximum LTV

80%

Loan Term (Years)

Up to 10

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