PCCU's Home Equity Rates Are Lower!

Are you looking to improve or expand your home? Are you looking to consolidate higher interest rate credit cards and loans? Are you looking for a way to pay for college tuition? Look no further than our low Home Equity Loan rates. You've worked hard to build equity in your home by faithfully making payments and keeping it well maintained; now make your home work for you with a low rate Home Equity loan! Call or stop in and see one of loan officers and learn how your home can work for you.


PCCU is an Equal Opportunity Lender.

 


  USDA Rural Development Loans at PCCU!

Home loans come in many different flavors and a good loan officer will work with you to help pick the right one. Too often people overlook or rule out the Rural Development loan from the USDA. When people hear the words Rural Development and US Department of Agriculture they think that they have to live in the country on a farm. In fact, these loans are available in all of Henry County, even in the middle of New Castle or Knightstown; as well as much of Wayne County, outside of Richmond.

So once we get past the name, why might someone choose a Rural Development loan? For starters, they don't require a down payment. That's correct, you don't have to put any money down when you're buying a home with a Rural Development loan. This makes it a great option for those who want to purchase a home, but haven't been able to save up for the down payment.

Second, the seller can contribute up to 6% of the purchase price to help you pay closing costs and prepaids. this means that on a purchase price of $50,000 the seller can contribute up to $3,000 towards the buyer's costs. This reduces the amount of money you have to bring to closing, making it easier for you to become a home owner.

Finally, the minimum credit score required for a Rural Development loan is 620, an option not available on most conventional loans without making a large down payment (as in 20% of the purchase price large!). Additionally, if you don't have much of a traditional credit history they will still consider your application. Instead, they will look at your history of paying bills that don't get reported to a credit bureau, like rent and utilities. You'll need to pull together more documents to fulfill the requirements, but our loan officers will walk you through each step.

When you consider the many features of the USDA's Rural Development loans it's easy to see why they're a good choice for many first time home buyers. They are also a good choice for people who pay their bills, but haven't been on the credit bureaus' radar because they pay cash for most things and don't fit into the nice, neat little box of a conventional mortgage. Ask your loan officer how a Rural Development loan can help you become a home owner!

PCCU is an Equal Opportunity Lender.


  5 Great Tips for Building Your Credit!

Many people ask us how they can build a better credit score. Here are five good rules for getting started, and remember that your PCCU loan officer is only a call or visit away with help and advice.

1. Meet a loan officer and explain what your goals are. Whether it's buying a car on your own steam or preparing to buy your first home, they'll listen to better understand your needs and work with you to draw up a game plan to achieve your dreams.

2. Borrow money AND pay it back as you agreed. Making payments as agreed is the single biggest part of your credit score and the more on time payments you make, the higher your score will be. Not making those payments on time will undercut your efforts and make it that much harder to reach your goal.

3. Review your credit report at least three times a year. That way you can find errors on your report and get them fixed before you've found the perfect car or house. It's also helpful in preventing identity thieves from making a complete mess of your credit by catching them sooner, rather than later when they've had a chance to make things even worse.

4. Take things a step or two at a time. Make sure you're comfortable living up to your obligations before you take on too many at once and trip yourself up, learn to walk and then to run.

5. Take advantage of PCCU's Online Banking, Mobile Banking and Bill Pay to keep track of your finances day to day. You can set reminders in Online Banking to remind you when your payments are due, or even pay them automatically every month with Bill Pay!

Stop in and see one of our loan officers today, they are ready to meet you and help you.
  
 
PCCU is an Equal Opportunity Lender. 




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