Home Mortgage Loans

There’s a lot riding on a mortgage, and the process can feel like it was built to confuse you. It shouldn’t be. At Choice One Community Credit Union, we finance home purchases and refinances for our neighbors across Northeastern Pennsylvania, and our job is to make the path forward clear, not cluttered. You’ll get honest numbers, a loan structure that matches your budget and your timeline, and a local team you can actually reach when a question comes up. First house or fifth, we’ll help you land on the right loan without the pressure.

No two buyers walk in with the same situation, so we don’t hand everyone the same loan. Choice One offers a full range of home financing, including:

• Conventional fixed-rate mortgages for steady, predictable payments
• Adjustable-rate mortgages when a lower starting rate makes sense for your plans
• FHA, VA, PHFA, and USDA options for qualified buyers who benefit from government-backed programs
• Construction loans for building new or taking on a major renovation

Already own your home? We can walk you through a refinance, too, whether the goal is a lower payment, a shorter term, or a cash-out refinance that puts your equity to work.

Not sure which of these fits? Here’s the short version of what each one is built for.

Conventional loans are the most common choice for buyers with solid credit and a reasonable down payment. Because they aren’t tied to a government program, they tend to be flexible on property type and term length.

FHA loans are backed by the Federal Housing Administration and were designed to widen the door to homeownership. They allow down payments as low as 3.5%, which makes them a popular first stop for first-time buyers or anyone who hasn’t stockpiled a large down payment yet.

VA loans reward the people who earned them. If you’re an eligible veteran, active-duty service member, or surviving spouse, a VA loan can offer favorable terms and, in many cases, no down payment at all.

USDA loans support homeownership in eligible rural and small-town areas, and much of NEPA fits that description. For buyers who qualify, the terms can be hard to beat.

PHFA loans, offered through the Pennsylvania Housing Finance Agency, are worth asking about if you’re a Pennsylvania buyer who could use help with down payment or closing costs.

Adjustable-rate mortgages start with a lower fixed rate for an introductory period, then adjust over time. If you don’t plan to stay in the home long term, or you expect your situation to change, an ARM can be a smart fit, as long as you understand how it works. We’ll make sure you do.

Construction loans cover the in-between stage of building or heavily remodeling, then convert to permanent financing once the work is done.

A mortgage is one of the longest financial relationships you’ll ever have. Here’s what members appreciate about spending it with us instead of a distant national lender.

• We decide locally. Your loan isn’t shuffled off to a call center three states away. Our Mortgage Advisors live and work in the same communities you do, and they know the NEPA market.
• Financing up to 95% loan-to-value. A smaller down payment doesn’t have to keep you out of a home you can afford.
• A no-points program is available. If you’d rather not pay points to buy down your rate, ask us about it.
• Terms up to 30 years. Stretch your payment out for breathing room, or keep it short to own the home faster. Your call.
• Low closing costs and clear explanations. No mystery math, no rushed signatures, no fine print sprung on you at the table.
• A smoother ride from pre-approval to closing. We keep the process moving and keep you in the loop the whole way.

You don’t need every detail nailed down to begin. Here’s roughly how it goes.

Get pre-approved. Before you fall in love with a listing, let us review your finances and tell you what you can comfortably borrow. A pre-approval also makes your offer stronger when you’re competing for a house.

Shop with confidence. With a number in hand, you can focus your search and negotiate like a buyer who’s ready to close.

Apply. Once you’ve got a property in mind, we’ll take your full application, order the appraisal, and get underwriting started.

Appraisal and underwriting. We confirm the home’s value and verify the details of your application. We’ll ask for documents like pay stubs, tax returns, and bank statements, and we’ll tell you exactly what we need.

Close. You’ll sign your final paperwork, we’ll walk through your terms and payment schedule, and the home is yours.

If this is your first time through, take a breath. Everybody starts here, and there are no dumb questions. We’ll explain down payments, private mortgage insurance, escrow, and every other term that gets thrown around like you already know it. For a plain-English walkthrough of the whole journey, from renting to your front door, take a look at our NEPA Home Buyer’s Guide.

Pick whichever one feels right today:

1. See today’s rates. Tap View Mortgage Rates to check current options and compare terms in real time.
2. Apply online. Ready to go? Apply for a Mortgage to begin the secure application whenever it’s convenient.
3. Ask a person. Still weighing your options? That’s normal. Use the form below or reach out to our team, and we’ll help you sort through loan types, terms, and what comes next.

How much house can I afford? That depends on your income, your existing debts, your credit, and how much you can put down. The most reliable way to find your number is to get pre-approved, and there’s no cost or obligation to do it. We’d rather help you shop within a comfortable range than watch you fall for a home that stretches you thin.

How much do I need for a down payment? Less than most people assume. FHA loans start at 3.5% down, some programs go lower for eligible buyers, and we finance up to 95% loan-to-value. Putting more down can lower your monthly payment and may help you avoid mortgage insurance, but a down payment doesn’t have to stand between you and a home.

What’s the difference between pre-qualification and pre-approval? A pre-qualification is a quick estimate based on what you tell us. A pre-approval is a more thorough review of your actual finances and carries more weight with sellers. When you’re ready to make offers, the pre-approval is the one you want.

Does my credit score have to be perfect? No. We look at your whole financial picture, not just a single number, and we work with buyers across the credit spectrum. If there’s room to strengthen your application first, we’ll tell you honestly and point you in the right direction.

How long does the mortgage process take? It varies with your situation and how quickly documents come together, but a typical purchase moves from application to closing over the course of several weeks. The appraisal and underwriting usually take the most time. We’ll keep you posted at every step of the way.

Do you help first-time buyers? All the time. Between FHA, USDA, and PHFA programs and our own local guidance, we have options built for people buying their first home. Ask us what you might qualify for.

Buying a home in NEPA should feel exciting, not exhausting. At Choice One, we pair competitive financing with a team that treats you like a neighbor, because you are one. Whether you’re touring your first open house or refinancing the home you’ve lived in for years, we’re ready to help you figure out what makes sense and move forward with confidence. Stop by any of our branches in Wilkes-Barre, Hazleton, Plains Township, Kingston, or Old Forge, apply online, or give us a call. No obligation, and no pressure, just straight answers from people who want to see you in the right home.

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