With a PFCU 1st Mortgage Loan you can purchase a home with a minimal down payment or take advantage of today’s low rates and refinance your current mortgage loan!
Saving for a down payment on your first home can take years. Now, PFCU is helping members buy a home by offering a program that may only require a minimal amount down.
Do you qualify?
- You must be a current member of PFCU
- Home to be purchased must be an eligible property type and a primary residence
- Member must have a minimum credit score of 620
- Your Down payment can be a gift from a qualified donor
- Members may be required to complete a HUD-certified Homebuyer Education course and receive a Certificate of Completion
- All loans are subject to PFCU and secondary market lending guidelines, additional restrictions may apply
PFCU Loan Officers
Partnership Financial Credit Union – NMLS#409351
|Todd Twardowski Morton Grove Office email@example.com NMLS#624014||
Timothy Rapson Evanston Office
Our loan officers can prequalify you for a mortgage in as little as fifteen minutes, over the phone! Once you are prequalified, you have a better sense of what you can afford and the prequalified status tells sellers that you are a serious shopper. It can give you the advantage you need in a bidding war against another home buyer.
Documents Needed for a Mortgage Application
- Copies of your most recent pay-stubs covering a one-month period
- Copies of your W2 forms for the most recent two-year period
- If income is derived from retirement accounts, the most recent awards letter verifying the monthly retirement income
- Copies of your complete (including all schedules) IRS Tax Form 1040 for the most recent two-year period
- If you are self-employed, Corporate Returns for the most recent two-year period will be required
- Copies of two months of asset statements (all pages) for any and all accounts, including savings, checking and retirement accounts
- Copies of a government issued ID and Social Security card
- If your loan request is for a refinance transaction, a copy of your most recent mortgage statement
- If your loan request is for a home purchase, a copy of the fully-executed, signed purchase contract
- Name and phone number of your homeowners insurance agent and/or condo association (if applicable)
The above documentation can be submitted to any PFCU office or you can fax to the following number:
Attention: Mortgage Department