PSECU offering first-time homebuyer program

Dated: May 11 2023

Views: 268

The Pennsylvania State Employees Credit Union (PSECU) has launched a new program aimed at helping first-time homebuyers. Under the program, qualified first-time homebuyers would be able to finance up to 100% of the purchase price with no down payment required. The program would not require private mortgage insurance and would offer low PSECU-related closing costs. At least one of the borrowers must take and complete a free homebuyer education course — PSECU mortgage consultants will provide links to qualified course options. Learn more here.
Source: Central Penn Business Journal; 4/18/2023

PSECU First-Time Homebuyer Program Features:

  • Finance up to 100% of the purchase price.
    • No minimum down payment required.
  • No private mortgage insurance (PMI) required.
  • Low PSECU-related closing costs.
  • Up to 3% seller assistance allowed.
  • No income limitations.
  • Fixed- and adjustable-rate options available.
    • Terms available for 10, 15, 20, 25, and 30 years.
  • Qualified grants for down payment or closing costs allowed.
Program Requirements:

  • Borrower is required to have 1% of total loan amount in reserves.
  • Maximum loan amount of $726,200.
  • At least one borrower must not have owned a home in the last 3 years.
  • At least one borrower must take and complete an approved homebuyer education course.
    • PSECU mortgage consultants will provide links to qualified course options.

https://go.psecu.com/firsthome

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Pete McGuinn

Pete McGuinn - Your Trusted RE/MAX Main Line Real Estate Expert With over 22 years of experience as a full-time REALTOR® at RE/MAX Main Line, Pete McGuinn is a distinguished real estate professional....

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