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Lot Loans
A Lot Loan is any property located in a subdivision. Lots of similar size and frontage as shown on a plot plan filed with the Clerk or Courts. The Loan to Value (LTV) is 85% of the purchase price or 85% of the appraised value on refinances.
Land Loans
A Land Loan is any property that is not defined by the Lot Loan definition. The LTV is 80% of the purchase price or 80% of appraised value on refinances.
Private Mortgage Insurance (PMI) will be required for all 1st Mortgage Loans with a LTV greater than 85%.
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*All PSCU mortgages comply with federal and state regulations.
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