Mortgage Loans
If you are looking to buy a home, Pittsford Federal Credit Union offers a variety of mortgage loans at competitive rates. Apply online now or contact us for more information.
| Rates | Quoted daily and posted online |
| Application Fee | $425 for appraisal (single family home in Monroe County) $175 application fee |
| Servicing | Life of loan by PFCU, guaranteed |
| Down Payment | Minimum down payment of 5%, PMI is required No PMI required with a minimum down payment of 20% or more |
| Purpose | Purchase, Refinance |
| Term | Minimum 10 years; Maximum 30 years |
| Maximum Loan Amount | $806,500 – Applications for loans in excess of $806,500 (Jumbo Loans) will be considered on an exception basis (up to a 20 year term available) |
| 5/5/5 Adjustable Rate Mortgages | |
| Index | Weekly average yield on United States Treasury securities adjusted to a constant maturity of five years, published in the Wall Street Journal |
| Margin | 2.25% added to the index to establish new rate |
| Initial Rate | The rate is fixed for the first 5 years Quoted at the time of application (view rates) |
| Rate Adjustment | Every 60 months after the initial rate period |
| Adjustment Cap | 2% maximum up or down every 60 months |
| Lifetime Cap | 6.00% above the initial rate |
| Application Fee | $425 for appraisal (single family home in Monroe County) $175 application fee |
| Servicing | Life of loan by PFCU, guaranteed |
| Down payment | Minimum down payment of 5%; PMI is required No PMI required with a minimum down payment of 10% for qualified borrowers |
| Purpose | Purchase, Refinance |
| Term | Minimum 10 years; Maximum 30 years |
| 5/5/5 Adjustable Rate Mortgage for First Time Home Buyers | |
| Eligibility | Available to borrowers who have not owned a home in the past three years |
| Special Features | $1,500 lender credit toward any closing related costs. (such as closing costs and taxes) Credit will be applied at closing Entire down payment can be a gift (if applicable) No PMI required |
| Maximum Loan Amount | The maximum loan amount for the this product is $403,250 |
| Index | Weekly average yield on United States Treasury securities adjusted to a constant maturity of five years, published in the Wall Street Journal |
| Margin | 2.25% added to the index to establish new rate |
| Initial Rate | The initial rate is fixed for the first 5 years Initial rate may vary based on down payment amount; Quoted at the time of application (view rates) |
| Rate Adjustment | Every 60 months after the initial 5 year period |
| Adjustment Cap | 2% maximum up or down every 60 months |
| Lifetime Cap | 6.00% above the initial rate |
| Application Fee | $175 application fee paid at the time of application |
| Servicing | Life of loan by PFCU, guaranteed |
| Down payment | 0% to less than 10% down |
| Purpose | Purchase (Primary residence only) |
| Term | 30 years |
Mortgage Tips
Mortgage Tips: Things to Avoid
Mortgage Tips: How to Get Started
Ready to apply?
Use our online mortgage application to Apply Now.
Contact the mortgage department or call us at 585-381-3885 to schedule an appointment.
You may review the checklist of items to bring to your mortgage appointment, or estimate your closing costs using our rate and closing cost calculator.
If you don’t see a product that fits your specific situation please let us know. Occasionally, circumstances require unique approaches and we will attempt to meet your needs.