3.69%APR1 20-year Fixed Rate as of 9/18/2017
3.26%APR1 15-Year Fixed Rate as of 9/18/2017
Use the drop-down menu below to find your local mortgage professional or Apply Online.
Step 1: Meet Your ESSA Mortgage Professional & Get Prequalified2
Get started by contacting one of our friendly Mortgage Professionals listed above or submitting our Quick Start Form. Your Mortgage Professional will discuss your specific needs, help you understand your loan options, and explain the application process. The first step will be to get prequalified, which will let you know how much house you can afford. Prequalification usually takes less than 48 hours.
Step 2: Finalize Your Rate and Term
Upon receipt of your "Intent to Proceed," we will lock your loan with rate and term. The appraisal is ordered during this phase while documents are collected. Final underwriting is typically completed in 2-3 weeks.
Step 3: Get Your Documents Together
As we go through the application process, we'll likely ask you to submit pay stubs, employment records, bank statements, tax returns, and other documents. We'll also be sending documents for you to review and sign electronically. Paper documents available upon request. You can help speed the process by providing requested documents in a timely fashion.
Step 4: Close on Your New Home
We prepare your closing documents and work with you, your real estate agent, and the other parties involved to set a closing date to get you into your new home.
Step 5: Post Closing
After your loan closes and you've settled into your new home, payments begin within the next 30-45 days. ESSA will service your loan throughout the full term. Our local in-house servicing team is available to process payments, pay taxes if applicable, and answer all questions.
Every situation is different, but whether you get approved for a loan and how much you get approved for is determined by a number of factors, including:
Your credit score: Your credit score is based on your payment history and how long you've had credit and tells us how likely you are to make your loan payments. It will also help determine your interest rate.
Employment history: Your employment history or other proof of a steady income is evaluated.
Your debt-to-income ratio: By dividing your total fixed monthly expenses, such as loan payments and credit cards, by your monthly income, we are able to determine a monthly mortgage payment that best suits your affordability.
Down payment: Paying more up front can help you secure a loan and could also mean a lower interest rate. Contact one of our Mortgage Professionals listed above to get started today.
Whether you're a first-time homebuyer, taking out a new loan, or refinancing, one of our Mortgage Professionals will work with you to understand your needs, and walk you through your options.
For more information on the types of mortgages we offer, click here or contact one of our Mortgage Professionals listed above.
Absolutely. We know that buying a home is a huge decision, and it can be overwhelming, especially for first-time homebuyers. Our team at ESSA will be with you every step of the way, and you may qualify for reduced interest rates, closing costs, and down payment requirements.
APR = Annual Percentage Rate. Rate is effective as of September 18, 2017, and is subject to change. The rate shown is indicative of a rate for a borrower with a 720+ credit score making a 20% down payment on the refinance or purchase of a single-family detached dwelling that will be occupied as borrower's principal residence. Rates may differ among borrowers based upon various factors including the borrower's credit score and the loan-to-value ratio. The monthly payment for a 15-year loan at 3.15% would be $6.98 per thousand. The monthly payment for a 20-year loan at 3.60% would be $5.85 per thousand. The monthly payment for a 30-year loan at 3.80% would be $4.66 per thousand.
Application can be submitted without prequalification.