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Mortgage Loans

First Mortgages

First Mortgages are the primary, or first loan, on a property that is generally used for the purchase of the real estate. The type of loan may vary depending upon needs, value, military service, or other factors. First mortgages can also be refinances of existing liens against the property including a debt consolidation. If you are unsure if you want to consider a First Mortgage or a Home Equity please use our Contact form or call the branch directly to speak with a loan officer about your options.

Fixed Rate Mortgages

With a fixed rate mortgage your interest rate remains the same for the length of your loan. Wyrope Williamsport FCU offers various fixed rate term loans including conventional and jumbo, as well as FHA, VA and State Bond Programs which require little or no down payment.

Adjustable Rate Mortgages (ARM)

An adjustable rate mortgage (ARM) usually offers an initial lower interest rate and initial lower monthly payments than a fixed rate mortgage. However, the interest rate with an ARM may increase or decrease over the term of the mortgage. To protect you against rapid rate increases, most ARMs have an interest rate "cap" or "ceiling". Some ARMs have a convertible feature that allows you to convert an ARM into a fixed rate mortgage at specific time periods.

FHA Mortgages

The FHA mortgage is a great way to obtain financing, particularly if you are purchasing your first home. This type of mortgage helps you get started because it requires a low down payment (as low as 3.50%), minimal credit history and allows flexible underwriting guidelines. FHA mortgages are available in both fixed and adjustable rate programs.

Refinancing Mortgage

If you have a fixed-rate mortgage at a higher interest rate, refinancing could reduce your monthly payments or the number of years to pay off your loan. If your current mortgage is at an adjustable rate, we can help you lock in a low interest fixed rate mortgage. Most refinancing fees can be included in the new mortgage (if you have enough equity in the home present value), so you will have very little out-of-pocket closing costs.

Mortgage Pre-Approval

Wyrope Williamsport FCU's program provides you with the opportunity to be pre-approved for a mortgage up to the maximum loan amount and interest rate, before signing a contract on a specific property. You then have the assurance that you will qualify for a mortgage before shopping for a home.