1.844.825.6728  |  support@valorcu.org  |  Routing # 231386331


With competitive rates and an experienced staff,
your dream of owning a home can become a reality when you finance with us


Our friendly and knowledgeable experts will simplify the home buying process and provide you peace of mind by assisting you every step of the way.

Apply Online

Start Your Application
or Check Rates

Let our team show you how we can make your mortgage financing more affordable. Contact a Member Service Representative by calling 1.844.825.6728 or visit one of our branches to discuss your needs.

Products & Programs include

  • Fixed Rate Mortgages

Multiple Year Terms Available

The fixed rate mortgage has been the most popular loan used in America for many years. With a fixed rate mortgage, your interest rate remains constant for the length of the loan so your monthly payments never vary.

We offer various fixed rate term options, including conventional and jumbo loans, as well as FHA, VA, and state bond programs, which require little or no down payment.

  • Adjustable Rate Mortgages (ARM)

1/1 - 3/1 - 5/1 - 7/1 - 10/1

An Adjustable Rate Mortgage (ARM) usually offers an initial interest rate that is lower than a fixed rate mortgage. However, over the term of the mortgage the interest rate with this type of loan may increase or decrease, thereby adjusting the payment amount up or down.

Most ARM's do offer protection against rapid rate increases, with an interest rate "cap" or "ceiling." Some ARMs even have a convertible feature that allows you to convert to a fixed rate mortgage at specific times over the course of the loan.

  • Federal Housing Administration (FHA)

An FHA loan is insured by the Federal Housing Administration and is an ideal financing option for first time homebuyers because it allows for a low down payment, minimal credit history and flexible underwriting guidelines. FHA mortgages also offer both fixed and adjustable rates.

  • Pennsylvania Housing and Finance Administration (PHFA)

PHFA is a stable, state bond program offering low down payments and interest rates to first time homebuyers.

  • VA Mortgages

VA Mortgages are guaranteed by the Department of Veteran Affairs for eligible veterans, reservists, or unmarried surviving spouses of a veteran.

The VA mortgage does not require a down payment and offers a fixed rate for the life of the loan. Closing costs may also be reduced because the seller is allowed to pay all settlement costs, although rates and points are negotiable.

  • Remodeling Mortgages

A remodeling loan is an option if you want to do a renovation, add-on or repair an issue to your current home or one you are looking to purchase.

A remodeling loan enables you to refinance both the purchase (or refinance) and repairs, updates, or eligible improvements for the property. Most importantly, there is only one mortgage to worry about. Remodeling loans are available in conventional and FHA mortgages with fixed and adjustable rates.

  • Bridge Loan Mortgages

If you currently own a home, but are looking to sell, you may be expecting that the equity from the sale of that home will enable you to purchase a new home. However, if your present home hasn't sold prior to the closing of your new home, then a "bridge" or "swing" loan may be helpful.

A bridge loan provides interim financing and enables you to buy a new home before you sell your existing one by using the equity in your current home, whether or not it is sold or listed for sale. We will collateralize the bridge loan by recording a mortgage against this property, and full payment will be required upon its sale/closing, with an initial term of 6 months.

  • Construction/Permanent Mortgages

Now you can build your dream home and obtain permanent mortgage financing with a construction to permanent loan. A construction to permanent loan can simplify the home building process with flexible FHF guidelines and only one closing. You can choose a construction term and a customized draw system to fit your individual needs.

Extended options are also available in the case that issues or inclement weather prolong the time it takes to build your home.

Upon completion, the mortgage becomes a permanent fixed rate loan with no additional costs or closing documents needed.

  • Jumbo (Non-Conventional)

A jumbo mortgage is a loan amount above the industry-standard definition of conventional loan limits (i.e. limits set by Fannie Mae and Freddie Mac). Rates on a Jumbo loan may also be higher as well. Jumbo loan limits are reviewed annually, and currently, the single family home limit is $417,000.

  • Piggyback Mortgages

A piggyback mortgage involves the use of two separate loans in a purchase or refinance transaction; the second is referred to as a "piggy back." This type of loan is primarily used to eliminate private mortgage insurance, but it may also lower your monthly mortgage payment. Additionally, it could provides greater tax deductibility* and helps build equity more quickly in your home.

  • Refinancing

If you currently have a fixed-rate mortgage at a higher interest rate, refinancing could help reduce your monthly payments or the number of years to pay off the loan. If your current mortgage is at an adjustable rate, refinancing could help you lock in a lower interest, fixed- rate mortgage with payments that won't change for the life of the loan.

Most refinancing fees can be included in the new mortgage, if you have enough equity in the home present value, therefore requiring very little out-of-pocket closing costs.

  • FHA 203K Rehabilitation Program

The FHA 203K Rehabilitation Program was designed by the Department of Housing and Urban Development (HUD) for the rehabilitation and repair of single family properties. The program is broken down into two types of Rehabilitation Loans: Regular or Streamlined, both of which can be used for a new purchase or a refinance, and require a borrower to pay 3.5% of the home's purchase or refinance price plus the cost of repairs. See below for a detailed breakout of the requirements between each as they do differ.

Regular Rehabilitation (203 (k))

  • For properties that are in need of structural repairs
  • $5,000 minimum repair cost threshold
  • No maximum limit on repairs
  • General contractor and normal architectural drawings required
  • Maximum five payments total to general contractor
  • FHA Inspector required for all repairs (all loan amounts)
  • Must use licensed/bonded contractor

Streamline Rehabilitation (Streamlined 203 (k))

  • For properties that are in need of non-structural repairs
  • No minimum required repair threshold
  • $35,000 maximum limit on repairs
  • No general contractor and normal architectural drawings required
  • Allows for two payments per contractor
  • No special FHA required inspections (under $15,000)
  • Must use licensed/bonded contractor

  • Free Pre-Approvals

A committed loan pre-approval from us could help you formally assess the scope of what you can afford before you buy. Schedule a consultation with one of our mortgage experts and they will help you identify the best financing options for your unique situation. Best of all, it is absolutely free!

Apply Online

Start Your Application
or Check Rates

Let our team show you how we can make your mortgage financing more affordable. Contact a Member Service Representative by calling 1.844.825.6728 or visit one of our branches to discuss your needs.

List of the items needed to start the Mortgage Loan application process

  • Last two years W-2 Forms
  • Last five paystubs
  • Copy of driver's license and social security card
  • Last two months' bank statements
  • Name, Address, phone, Date of Birth & email
  • Sales Agreement, if a purchase
  • Copy of deed or present mortgage, if a refinance
  • Two years tax returns if self employed or own income property

Mortgage Loan Originators

List of MLOs and their NMLS ID number

Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at this office regarding the locations where HMDA data may be inspected. To receive a copy of these data send a written request to Valor Credit Union, 315 Franklin Ave, Scranton, PA, 18503.

Conditions & Notes

* Consult a tax advisor for further information.