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We put our members first.

Do you have Mortgage question?

I want to buy a house. Where do I begin?

Learn as much as you can and do your homework. Attend our First Time Home Buyer Seminar and/or our Home Construction Loan Seminar. You'll find seminar dates on our Calendar of Events.

What types of Mortgages does the credit union offer?

We offer Construction Loans, Renovation Loans, Land Financing, Mortgage Refinancing, a First Time Home Buyers Program, VA/FHA mortgages, USDA Rural Economic mortgage, PHFA and more.

What documents do I need to provide when I apply for my Mortgage?

The documents you will be required to provide will depend on the product that best suits your mortgage needs. Some examples are as follows:

  • Recent pay stubs that cover 30 days.
  • Last 2 years of W-2 forms.
  • Bank statement(s) for 1-2 months.
  • Most recent retirement statements including any 401k or IRAs.
  • If you are self-employed, we will need copies of the most recent 2 years completed business and personal federal tax returns in place of the paystubs listed above.

Which Mortgage product is the right one for me?

The best way to determine which type of mortgage product may be best for you is to speak with one of our mortgage experts. We will share all of your available options and recommend the one that is best for you, your budget and future plans.

What criteria plays a role in the Mortgage approval process?

Your income, employment, assets, liabilities and credit history all play a role in your approval process. Decisions are individualized and our experts are trained and experienced to make decisions based on this criteria and what type of mortgage would suit your individual needs.

Are there Application Fees?

There is no application fee for an initial consultation and pre-qualifiction. Once you have a home under contract, we will collect an appraisal fee that generally ranges from $510 to $750.

How are interest rates locked in?

Once you have an executed purcahse agreement a lock will be available to you. Contact your mortgage expert to review current rate options.

How long does the Application process take?

Online applications generally take less than 15 minutes to complete. Phone and in person appointments are also avaialble.

How long does the entire Mortgage process take?

The process can depend on the type of loan you choose. Members 1st always strives to meet settlement date expections.

What if I change my mind after I apply?

You may cancel your application at any time. However, if an appraisal has been completed the fee in non-refundable.

Is a down payment required? If so, how is that amount determined?

The rate and terms of your loan will be based on a down payment figure ranging from 0-20 percent down. The amount of money you will are required to put down is based on many factors which include your credit rating, if you are a veteran, where you are purchasing your home, and many other criteria. Your mortgage expert will explain your available options.

What is Private Mortgage Insurance (PMI)?

Some mortgage products require PMI which is designed to protect your lender against any default on the loan (i.e., you fail to make payments). Your mortgage expert will review these requirements with you.

How much will my Private Mortgage Insurance Premiums (PMI) be?

PMI charges vary depending on the size of your down payment and your loan.

What's Escrow?

An escrow account is used to collect and hold funds to pay your property taxes, homeowner's insurance premiums or other charges when they become due. The account is often established for you by your lender when you take out your mortgage. It's a great way to have all of these payments set aside so you don't have to scramble to pay a huge bill later on. Escrow is not always required.

How do I figure out my monthly Mortgage payments?

Your monthly payment will be based on your loan amount, interest rate, the length of your financing term, taxes, homeowner's insurance, flood insurance (if applicable) and mortgage insurance if required.

Does Members 1st provide Settlement Services?

Yes. Members 1st Settlement Company, LLC is located in our Administrative Headquarters in Mechanicsburg.

What are Points and Discount Points?

You have an option to reduce the interest rate on your mortgage loan by "paying for points". One point costs 1% of your mortgage amount and can reduce your interest rate meaning a lower monthly payment over the life of the loan.

Do I have to pay Closing Costs and how are they determined?

The final step of purchasing your home is the closing, where you sign the documents and get the keys to your new home. There are a number of costs that you’ll pay at closing, so you’ll need to be prepared to factor that into your budget.

Your Mortgage Expert will review your mortgage details and help you understand your closing costs. You also need to bring a certified check that day to cover all closing costs.

Will our Mortgage be sold to another Lender?

Your loan may or may not be sold to another lender. If your loan is sold, it will not change any terms or conditions of your loan.

Are there any Pre-Payment Penalties on a Mortgage?

Typically there are no pre-payment penalties on mortgage loans.


Have a question you'd like to ask that's not on the list above?

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