Home Refinance Programs - First Commonwealth Credit Union

Veterans Affairs Loans

Military members may be eligible for a VA loan, which provides affordable, government-backed mortgage financing with unique benefits including no down payment (100% financing) or PMI.

The Professional Mortgage Loan (PML) was designed to empower young qualified professionals burdened with significant college debt and limited savings to acquire a home. This program has fewer restrictions than conventional mortgages. If you’re a PA or NJ Professional with a credit score greater than 699*, you could take advantage of up to $1 million in financing to purchase a primary residence in either PA or NJ.
Features include:
- as little as 3% down
- No Mortgage insurance required
- Fixed and adjustable rates
- Deferred Student Loan Payments May be excluded from debt to income

Eligible professions include:

FHA loans have some flexibility. FHA-insured home loans are available to borrowers with less-than-perfect credit. Even after bankruptcy, you can be considered after two years of discharge and good credit has been established. Interest rates tend to be lower than conventional mortgage rates.