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Compare Mortgage Types

FIXED RATE MORTGAGE

  • Best if you want a low monthly payment.
  • Fixed interest rate
  • 10, 15, 20 or 30 years
  • Learn more

10/30 ADJUSTABLE MORTGAGE

  • Best if you plan to be in your home less than 10 years.
  • One-time interest rate adjustment.
  • 30 years – Fixed for 10 years. One-time adjustment to current 30-year fixed rate.1
  • Learn more

FIRST-TIME HOMEBUYER

  • Best if are buying a home for the first time.
  • Fixed/Adjustable interest rate
  • 10, 15, 20 or 30 years or 10/30 Adjustable Mortgage
  • Learn more

FIRST HOME ADVANTAGE

  • Have limited resources and are buying your first home.
  • Fixed interest rate at .25 below our standard 30-year fixed rate mortgage.
  • 30 years
  • Learn more

HOME EQUITY LINE

  • Best if you need some extra money to cover home improvements or general expenses.
  • Variable interest rate
  • 15 years – 10 year draw period, 5 year repayment
  • Learn more

CONSTRUCTION-TO-PERMANENT2 FINANCING

  • Best if you want to build your dream home and enjoy peace of mind during the process.
  • Fixed interest rate
  • Construction – 15 months
    Permanent – 10, 15, 20 or 30 years
  • Learn more

NEW CONSTRUCTION COMMITMENT PROGRAM

  • Best if you want loan approval and a lock-in rate on your permanent mortgage before you start construction.3
  • Fixed interest rate
  • 10, 15, 20 or 30 years
  • Learn more

1 Or a maximum of 3.00% over the initial rate.

2 Subject to credit approval.

3 This program applies to the permanent financing after the completion of the home. Piedmont Federal does not provide financing for the construction of the home.

 

FIXED RATE MORTGAGERead more

10/30 ADJUSTABLE MORTGAGERead more

FIRST-TIME HOMEBUYERRead more

FIRST HOME ADVANTAGERead more

CONSTRUCTION-TO-PERMANENT5 FINANCINGRead more

NEW CONSTRUCTION COMMITMENT PROGRAMRead more

Best if you

Want a low monthly payment.

Plan to be in your home less than 10 years.

Are buying a home for the first time.

Have limited resources and are buying your first home.

Want to build your dream home and enjoy peace of mind during the process.

Want loan approval and a lock-in rate on your permanent mortgage before you start construction? 6

Interest Rates

Fixed

One-time rate adjustment

Fixed/Adjustable

Fixed at .25 below our standard 30-year fixed rate mortgage

Fixed

Fixed

Terms

10, 15, 20 or 30 years

30 years -
Fixed for 10 years
One-time adjustment to current 30-year fixed rate1

10, 15, 20 or 30 years or 10/30 Adjustable Mortgage

30 years

Construction – 15 months

Permanent – 10, 15, 20 or 30 years

10, 15, 20 or 30 years

Benefits

Interest rate and monthly payment stay the same for the term of the loan

By selecting a lower term, you can pay off your mortgage in a shorter amount of time.

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Lower initial rate - ½% below current 30-year fixed rate mortgage product.

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No loan origination fee. Appraisal fee refunded at closing.

Accepts loan request up to 90% Loan To Value3 with no PMI2.

Down payment may come from a gift.

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No loan origination fee. Appraisal fee refunded at closing.

Accepts loan request up to 97% Loan To Value, PMI2 required.

Low minimum down payment of $1,000.00 or 1% (whichever is greater).

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Provides financing for the construction of the home.

One application, one closing and one loan, you save money.

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Does not provide financing for the construction of the home.

Peace of mind with loan approval and an interest rate locked for 9 months before you begin construction.

Our commitment program locks in your mortgage rate for your permanent financing after the completion of your home beyond the normal 60 days, protecting against interest rate changes.

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Free Services

PFPinnacle
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eStatements

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PFPinnacle
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eStatements

See our many payment options

PFPinnacle
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eStatements

PFPinnacle
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eStatements

N/A

N/A

 

 

Compare Mortgage Types | Home Equity Line of Credit

 

 

PIEDMONT HOME EQUITY LINERead more

Best if you

Need some extra money to cover home improvements or general expenses.

Interest Rates

Variable

Terms

15 years -
10 year draw period
5 year repayment

Benefits

Draw on your home’s equity to afford home repairs, consolidate debt or pay for education.

Learn more

Free Services

PFPinnacle
Online Banking
eStatements

 

1 Or a maximum of 3.00% over the initial rate.

2 Private Mortgage Insurance (PMI)

3 A ratio used to calculate the loan amount requested as a percentage of the value of a home.

4 Must have $10,000 or greater balance on your Piedmont Home Equity Line of Credit to receive PFPinnacle with no monthly maintenance fee.

5 Subject to credit approval.

6 This program applies to the permanent financing after the completion of the home. Piedmont Federal does not provide financing for the construction of the home.

Straightforward, commonsense banking

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