Rates
12 Month Certificate - 3.95% apy*
5 Year Bonus Certificate - up to 3.05% apy*
Money Market Rates -
up to 3.00% apy*
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Mortgage Loans
Affordable Rates, Personalized Support
Unlock the doors of homeownership! Whether you’re buying a new home or refinancing, we can help you save with competitive rates and flexible terms. Apply for a credit union mortgage today for personalized support and a quick loan decision.
Hassle-Free Home Financing from Start to Finish
Competitive Rates | |||
Our rates are low to help you keep more of your hard-earned money. | |||
Flexible Terms | ||||
We’ll work with you to get a term that fits your budget. | ||||
Local Loan Decisions | ||||
Enjoy faster loan decisions and a more personalized experience. | ||||
Your Home, Your Terms
Obtaining a mortgage through CACL Financial may be easier than you think! Our mortgage process is simple so you can get the keys to your new home faster.
Key features of our mortgage loans include:
- No prepayment penalties
- Terms of 10, 15, 20, and 30 years
- Low down payment options
- Online account management
- Dedicated support
- Fast loan decisions
Apply for a CACL Financial mortgage today to take the first steps towards homeownership.
How to Apply for a CACL Mortgage Loan
Apply | |||
Step 1 | Conveniently apply online by clicking the button below, or in person at a branch. | ||
Application Review | |||
Step 2 | We’ll contact you to discuss options and answer your questions | ||
Close the Loan | |||
Step 3 | Finalize the mortgage by signing the loan documents to complete the purchase of your home. | ||
Testimonials
"Always a friendly face and exceptional service."
- Lisa S.
“Everyone there is absolutely kind, polite and helpful. This is the place you go to and they treat you like family....instead of a stranger.”
- Douglas M.
“CACL is the most accommodating, helpful and friendliest bank in Schuylkill! I can't say enough how happy I am with CACL over traditional banks and other credit unions!”
- Lisa B.
Mortgage Loans FAQs
| How much can I borrow? |
|---|
| We offer mortgage pre-approval, which lets you know how much you can borrow before you start looking for a home. We’ll do a preliminary review of your finances and then give you a pre-approval letter that you can show to your real estate agent and sellers. The letter indicates that you are conditionally approved for a mortgage up to a certain amount. It lets sellers know that you're a serious buyer, and it may also give you an edge during the negotiations. |
| What are closing costs? |
| Mortgage closing costs are fees that are incurred during the underwriting process and are paid when finalizing the loan. They may include fees for the loan origination, appraisal, title insurance, attorney, escrow, recording, and other home-buying expenses. Closing costs typically range from 2-5% of the loan amount and can sometimes be negotiated to be partially covered by the seller. |
| What credit score do I need to qualify for a mortgage? |
| For a conventional home loan, credit scores of at least 640 are preferred. Although your credit score is important, we also consider other factors when making a loan decision including your employment history, income, and current debts. |
| What is private mortgage insurance? |
| Private mortgage insurance (PMI) is a type of insurance that you are required to have if your down payment is less than 20% of the purchase price of the home. The purpose of PMI is to protect the lender if you default on the loan. PMI can be canceled when you have paid down your mortgage balance to 80% of the original loan amount or when your home’s value has increased sufficiently to reach an 80% loan-to-value ratio. |
| What is a home appraisal, and why is it necessary? |
| A home appraisal is an assessment of a home’s value. It’s required during the underwriting process to make sure the property you are buying is worth the amount you are borrowing. |
| What types of homes can I finance? |
| We primarily offer mortgages for homes in Pennsylvania. Loans outside of Pennsylvania may be permitted with Mortgage Loan Committee approval. We offer mortgages for 1-4 family dwellings, single unit 2nd homes, vacation homes, or eventual retirement homes, homes in a planned unit development, townhouses, row houses, condominiums, earth shelters, log homes, and geodesic dome homes. All properties must be owner-occupied at least six months a year. |
| What types of home loans do you offer? |
| We offer purchase money loans, refinance loans, permanent loans to pay off construction loans, and permanent loans to pay off land construction loans. |
| What documents do I need to prequalify for a home loan? |
| To prequalify, you will need two years of tax returns, two months of bank statements, one full month of your most recent pay stubs, and the total amount you need to borrow. You will also need to complete a Prequalification Credit Authorization form. After you agree on a price with the seller, you will need an agreement of sale and a completed mortgage application, which can be submitted in person or online. |
Why Wait? Join Today!
At CACL Financial, our members are our top priority! Whether you need a mortgage or car loan, or you are looking for hassle-free checking or savings accounts, we can serve all of your banking needs. Apply for membership today for banking that puts your needs first.
Still Have Questions?
Reach out to us at questions@caclfcu.org or call us at 570-628-2400 for personalized assistance.
