PEFCU is here to make it easy

Publix Employees Federal Credit Union offers conventional, fixed-rate home loans to our members for the purchase or refinance of their primary residence with a minimum down payment of 5%.  Any down payment of less than 20% will require Private Mortgage Insurance.  We also offer a fixed rate, 15-year term second mortgage.  The home must be an existing single family, detached, block or frame house located in Florida or Georgia.  We do not offer financing for rental properties, vacation homes, duplexes, condominiums or townhouses.

Qualifications

Approval criteria involves the evaluation of each loan applicant’s credit history, employment stability and other verifiable sources of income, as well as assets needed for down payment and other funds needed for closing.  In general, a credit score of at least 620 is desirable in evaluating the credit risk associated with a mortgage loan.  However, we do not discourage you from applying for consideration of a home loan for regardless of your credit score.

Preapproval Requests

As a service to our members, we also accept applications for pre-approvals.  This process entails the review of your completed application, income and asset verification, and your complete credit report.   A $25.00 fee for obtaining your credit report will be charged upon receipt of your pre-approval application.

Free Annual Credit Report

Prior to initiating a request for a pre-approval, we recommend that you request a copy of your free annual credit report.  This will give you a snapshot of your credit file, which you can review it for accuracy. This will also give you the opportunity to address any outstanding issues prior to applying for a home loan.  You can request your free annual credit report by calling 877-322-8228 or at www.annualcreditreport.com.

Prequalification Calculator

We strongly recommend that you use our mortgage loan prequalification calculator to help you determine the estimated mortgage amount you may qualify for based solely on your income.  While the loan prequalification calculator does not guarantee that you will qualify for a home loan, it is a good starting point.

1. Click the following to start: Services Calculators.
2. Under the “HOME” heading, click “How much home can I afford?” to start the calculations.
3. Once the form is filled out, click on the “Calculate” button.

Then you will find a loan amount, based on the information provided in the Mortgage Information section for both 10% and 20% down payment scenarios.

If at any time you have questions, please feel free to contact the Mortgage Department at mortgage@pefcu.com or by phone at 800-226-6673, ext. 6515.