Mortgages We designed our products & services with YOU in mind!

First and Second Mortgages

15 Year Available
Maximum Loan to Value (LTV) is 95% of appraisal for first and second mortgages

20 Year Available

First Mortgage - Maximum LTV is 95% of appraisal
Second Mortgage - Maximum LTV is 100% of combined appraised value

Apply Now!

Private Mortgage Insurance (PMI) will be required for all 1st Mortgage Loans with a LTV greater than 85%. Must have proof of homeowners insurance. Title Insurance will be required for mortgages in excess of $75,000.

Adjustable Rate Mortgages (ARM) have an interest rate that is linked to an economic index. The interest rate, and your payments, are periodically adjusted up or down as the index changes.

First and Second Mortgages - 5/1 ARM
Maximum Loan to Value (LTV) is 95% of appraisal for first and second mortgages
See mortgage representative for details

First Mortgage - 10/1 ARM
See mortgage representative for details Maximum LTV is 95% of appraisal

Apply Now!

Private Mortgage Insurance (PMI) will be required for all 1st Mortgage Loans with a LTV greater than 85%. Must have proof of homeowners insurance. Title Insurance will be required for mortgages in excess of $75,000.

Pelican is now licensed to offer FHA Products! We have partnered with CU Members Mortgage to give you another option when purchasing a home at a low fixed rate. FHA loans are insured by the Federal Housing Administration.

Low Down Payments
Lenient Credit Requirements
Seller Contributions Now Available*

Apply Now!

*Membership required. This information is not an offer to extend consumer credit. Rates and terms are subject to change without notice. Product is offered through our partner, CU Members Mortgage. Applications will be processed using FHA guidelines. Some restrictions apply. See representative for details.

Contact our Mortgage Department at 1-800-351-4877 option 9, ext. 4511 for rate information.

*All PSCU mortgages comply with federal and state regulations.

Are you interested in purchasing a home located in a rural area? You may be eligible for a Rural Development Loan, a 30 year fixed rate mortgage backed by the US Department of Agriculture. RD Loans are made at market interest rates with various financial institutions including Pelican State Credit Union. Here are some of the benefits:

• 100% Financing
• No Down Payment
• No Mortgage Insurance Premium Required
• New & Existing Homes Eligible
• No Maximum Loan Amount
• Guarantee Fee may be tax deductible

Loans may include closing costs, guarantee fee, legal fees, title service, cost of establishing escrow account and other prepaid items. Refinancing of Direct and Guarantee USDA RD housing loans is allowed. Visit the USDA website to find out if a property is eligible, calculate adjusted household income and compare it to current income limits.

Call a Pelican State Credit Union Mortgage Representative at 1-800-351-4877.

*Rural Development is an agency of the U.S. Department of Agriculture. USDA is an equal opportunity provider, employer and lender.