Mortgages

Buy or refinance with us

Disclosures

  • 039) Pre-approval and closing guarantees are based on a preliminary review of borrower's credit information only and is not a commitment to lend. The closing guarantee is subject to verification of the information submitted on borrower's application, in addition to borrower’s property eligibility. Fraudulent or purposely misleading information provided by borrower will invalidate the guarantee.
  • 040) The guarantee to close within 10 business days does not apply if delays occur by third parties, including but not limited to realtors, borrowers, and/or sellers. It is only available to loans with maximum LTV of 80% and down payment must be from borrower’s own source of funds and does not include non-lender paid fees, impounds, or reserves. Provident Credit Union guarantees to close your loan by the date specified in the purchase contract, provided 1) this date is 10 business days from contract date, 2) we have issued a pre-approval letter on your loan, and 3) we have received your full loan application and all required documents. If the loan fails to close on time due to a delay by Provident Credit Union, we will credit $995.00 of the buyer's closing costs at time of funding (Power Funding must be requested at time of application). This offer may not be combined with other satisfaction guarantee offers. Borrowers must meet Provident Credit Union’s lending guidelines. Any alteration to the loan amount or loan terms by, or per request of, borrower will invalidate the guarantee. Property must appraise at or above the sale price.
     
  • 041) Power Funding is only available for properties in the Bay Area, which include San Mateo County, Santa Clara County, San Francisco County, Alameda County, and Contra Costa County.
     
  • 042) Credit package includes verification of income and assets; W2s, pay stubs, tax returns, all company schedules (if applicable), deposit statements, and brokerage and 401K statements.
     
  • 207) Movable® option is available on 7/23, 30-Year 5/5, 40-Year 5/5, 30-Year 10/10, and 40-Year 10/10 in California only.
  • 229) Adequate property insurance required for the life of the loan. Flood insurance may be required. Private Mortgage Insurance (PMI) required on all mortgages exceeding 80% loan-to-value (LTV). All loans subject to credit approval.
  • 230) 40-year term must be owner occupied condo or single family purchase or rate and term refinance only (no cash out).

Provident can help finance your home or refinance your existing loan

Whether you’re purchasing your first home or refinancing, Provident Credit Union has home financing options to fit your needs. View individual mortgage loan types below for more information and additional mortgage related services.

Purchase a New Home

Your dream home awaits. Let us help you reach your goal of homeownership.

Apply for Mortgage Loan

Our Home Purchase Advantage program can help you accomplish your goals. First-time home buyers and people interested in maximizing liquid assets can benefit.

We’re here to answer your questions and help you understand your options. Call (800) 632-4600, option 1-2703.

Features

  • Includes fixed and/or adjustable rate mortgages
  • Moderate to low income borrower program enhancements
  • Competitive pricing
  • Flexible options

Home Purchase Advantage

Provident’s new Home Purchase Advantage (HPA) program provides expanded purchasing power for our members.

How it Works

You have a new home with a great rate. Let's say you decide to move in three years, but rates have risen by that time. You still have years left with your original low rate. Now you can transfer that rate and term to the mortgage on your next home!

Features

  • Available on our Portfolio Adjustable Rate Mortgage products

  • Take your rate with you when you move

  • No upfront rate differential or fees. When you exercise the Movable Mortgage Option, the fee is 1/2 of 1% of the balance of the new first mortgage loan.

Movable Mortgages

With a Provident Movable Mortgage®, you can secure today’s low interest rate and take it with you when you move. Our 7/23, 30-Year 5/5, 40-Year 5/5, 30-Year 10/10, and 40-Year 10/10 home loans allow you to transfer your rate to the next home you buy.207

Power Funding is a guarantee that Provident can close your home purchase within 10 business days. If Provident is unable to meet this commitment, you’ll receive a $995 rebate.040

Guarantee Period

The guaranteed funding period starts when Provident receives the following items:

  • Full loan application

  • Credit Package 042

  • Deposit

The guaranteed funding period ends when your loan is funded.

POWER Funding 10-Day Guarantee

Close your purchase in 10 business days or less, guaranteed.039

 

  • Interest rate may change during the life of the loan.

  • Monthly payments may increase or decrease based on interest rate changes.

This may make the difference in being able to afford your first home or upgrade to a bigger home. Don't give up the security of a fixed payment during the first years of the mortgage.

We’re here to answer your questions and help you understand your options. Call (800) 632-4600, option 1‑2703.

Mortgage Period of Fixed Rate Period of Adj. Rate Adjustment Frequency
7/23 7 23 Every 12 Months
30-Year 5/5 5 25 Every 5 Years
40-Year 5/5230 5 35 Every 5 Years
30-Year 10/10 10 20 Every 10 Years
40-Year 10/10230 10 30 Every 10 Years

Fixed/Adjustable Mortgages

These loans offer a low rate that stays fixed for five to ten years, then converts to an adjustable rate.

This loan option offers a very stable rate and payment over the life of the loan. Even as the overall rate environment changes, your rate and loan payment remain unchanged. 

Need help deciding which one is right for you? Call (800) 632-4600, option 1-2703

  • 10-Year Fixed Rate Mortgage

  • 15-Year Fixed Rate Mortgage

  • 20-Year Fixed Rate Mortgage 

  • 30-Year Fixed Rate Mortgage

Fixed Rate Mortgages available for non-owner occupied as well. 

Features

  • Fixed rate for the term of the loan

  • Multiple term options available

  • Principle and interest payments remain fixed for the life of the loan

Fixed Rate Mortgages

This type of loan appeals to the conservative borrower, those who will not move, or won't refinance for many years.