The loan is secured with a 2nd mortgage. The trade area for mini mortgage loans includes the following counties of Pennsylvania: Erie, Crawford, Warren, & McKean.
The loan application must be accompanied by a property search, flood zone search and deed. The member is responsible for the fees pertaining to the above and for the filing fees. Proof of homeowner's insurance with a maximum $1,000 deductible and loss payable clause to the Credit Union is required.
- Maximum Amount - $2,000 to $15,000 with a 20% minimum equity, 25% for rental property
- Maximum term - 60 months
- Interest Rates:
|Term||Rates as Low as|
|36 Months||2.00% APR*|
|60 Months||2.50% APR*|
*APR = Annual Percentage Rate. Other rates may apply based on lending criteria. Rental Property: Add .75%.