Mortgage Options

Let the moving begin! Pinnacle Credit Union offers a variety of mortgage loans to meet every need. Our options include Conventional, FHA, & VA loan programs. Picking the right mortgage has never been so easy! See below for more details for each type of residential property.

Primary Residences

Purchase Options:

FHA

FHA Manufactured

Conventional Loans

**3% Down Payment programs are available
subject to income limitations

Manufactured Homes

Jumbo Loans

VA Loans

ARM Loans (Adjustable Rate Mortgage)

 

Home Refinance Options for Primary Residence:

FHA
The maximum loan amount is up to 97.75% of the appraised value of your home when you refinance your First Mortgage only.

The maximum loan is up to 85% of the appraised value of your home when you refinance your First Mortgage and also include your Second Mortgage, pay-off other debt and/or recieve cash-out.  

Conventional
The maximum loan amount is up to 95% of the appraised value of your home when you refinance your First Mortgage Only.

The maximum loan is up to 80% of the appraised value of your home when you refinance your First Mortgage and also include your Second Mortgage, pay-off other debt and/or recieve cash-out.

Jumbo
The maximum loan amount is up to 95% of the appraised value of your home when you refinance your First Mortgage Only.

The maximum loan is up to 80% of the appraised value of your home when you refinance your First Mortgage and also include your Second Mortgage, pay-off other debt and/or recieve cash-out.

ARM Loans
The maximum loan amount is up to 95% of the appraised value of your home when you refinance your Primary Mortgage.

Interest rate and monthly payment only adjusts every 5 years or 7 years depending on which adjustable rate program is best for your situation.

The maximum your interest rate can increase after the first fixed period is +/- 2%.

Lifetime Rate Cap 6% over start rate on 5 year ARM or 5% on 7 year ARM.

VA Loans
Interest Rate Reducion Loans (IRRLs) allow a Veteran to refinance his/her First Mortgage balance and include closing costs and funding fee up to the Veteran's loan eligibility limit up to 125% of the appraised value.

Cash-out Refinances are limited to 100% of appraised value.

Minimum credit score is 620.

Loan terms of 15 or 30 years on a fixed rate.

 

Second Homes

Purchase Options
Second Home Mortgages
15% Down Payment Purchase
This Loan Offers terms of 10, 15, 20, and 30 years on a fixed rate    

Refinance Options
Second Home Mortgage
The maximum loan amount is up to 85% of the appraised value of your second home.
Cash-out option is available up to 75% of appraised value

 

Investment Properties

Home Purchase Options  
Investment Property Mortgage
15% Down Payment
This Loan Offers terms of 10, 15, 20, and 30 years on a fixed rate
Requires 6 months of Principle, Interest, Taxes, and Insurance (PITI) on the property to be in reserves    

Home Refinance Options  
Investment property Loans
The maximum loan amount is up to 75% of the property's appraised value if paying off First Mortgage only.
Cash-out option is available up to 75% of appraised value
For Second Homes and Investment Properties the Borrower may have no more than six financed properties including the current property being financed.

 

Land Loans

Purchase Option

Refinance Option
The maximum loan amount is up to 80% of the appraised value of the land when you refinance your current loan.