Home LendingWhether you’re a first-time home buyer or you want a vacation home to get away, MCT can provide a mortgage loan that’s right for you. |
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How Can We Help You?
Getting into your home is now faster and simpler with Mauch Chunk Trust Company.
Quick and easy paperwork |
Knowledgeable staff |
Pre-qualifying for a mortgage |
Use our online calculators |
Local lenders making local decisions.Whether it’s your first home, upsizing for the family or downsizing after retirement, our home mortgage loans and lenders are here to serve your specific needs. |
Residential Home Mortgage Loans
Monthly mortgagesWhether it’s your first home, a bigger home or refinancing to get a lower rate, MCT's home mortgage loans are here to serve your specific needs. |
Biweekly MortgagesWith bi-weekly mortgage payments, you can get out of debt faster than with a traditional mortgage! |
Compare our lending options
Product | Use | Loan Limits | Terms Available (years) |
---|---|---|---|
First Time Homebuyer |
Purchase or |
Up to $806,500 |
Monthly Mortgage: 15, 20, 30 Biweekly Mortgage: 15, 20, 30 |
Monthly Mortgage |
Purchase or |
Up to $806,500 |
15, 20, 30 |
Single-Close Construction Mortgage: Can be used for a primary or secondary residence; no investment properties. |
Purchase | Up to $806,500 | 31 years (12 months interest only, followed by a 30 year term) |
Single-Close Construction Mortgage: Can be used for a primary or secondary residence; no investment properties. |
Purchase | Up to $806,500 | 30 years, 4 months (4 months interest only, followed by a 30-year term) |
Bi-Weekly: Money Saver * Can be used for a primary or secondary residence. The Money Saver Mortgage offers the lowest associated costs and fees. |
Refinance |
up to $250,000 |
15, 20, 30 |
Bi-Weekly: Finish Line Refinance * Can be used for a primary or secondary residence. |
Refinance |
$250,001 - $806,500 |
15, 20, 30 |
Bi-Weekly: Finish Line Purchase * Can be used for a primary or secondary residence. |
Purchase |
Up to $806,500 |
15, 20, 30 |
Bi-Weekly: Jumbo * Can be used for both primary or secondary residences. Bi-weekly payments help save money on interest and allow for faster loan payoff. Provides financing above conventional/conforming loan limits |
Purchase or Refinance | $806,501 or more | 15, 20, 30 |
1 Single-Close Construction Mortgage: Site-Built Homes
• The maximum Loan-To-Value (LTV) is 90% on a primary residence or 85% on a secondary/vacation residence and does not include an escrow account for taxes and homeowner’s insurance.
• Excludes investment properties.
• Maximum loan limit: $806,500. Term available: 372 months (12 months interest only, followed by a 30 year term).
• Principal & interest payments will start after the initial 12 months regardless of whether the house is completed or not.
• Private Mortgage Insurance (PMI) for any loan to value of greater than 80% will be required and escrowed.
2 Single-Close Construction Mortgage: Site-Built Homes
• The maximum Loan-To-Value (LTV) is 80% on both primary and secondary residences and does not include an escrow account.
• Excludes investment properties.
• Maximum loan limit: $806,500.
• Term available: 364 months (4 months interest only, followed by a 30 year term).
• Principal & interest payments will start after the initial 4 months regardless of whether the house is completed or not.
• Only available for manufactured homes on a permanent foundation on land owned or purchased as part of the mortgage transaction (excludes rented land).
* MCT Biweekly Mortgages are only available with auto payment from a checking or savings account.
Home Equity Loans
A home equity loan allows you to borrow money by using the equity in your home as collateral. A home equity loan from MCT comes with a fixed rate, so always know your monthly payments. Home equity loans give you a simple option for home improvement projects or unexpected expenses.
Take advantage of our great rates and flexible payment terms, including the option to enroll in automatic deductions.
Apply for a Home Equity LoanView Our Current Home Equity Rates
Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit from Mauch Chunk Trust Company lets you access the equity in your home through a revolving line of credit at a variable rate. Simply write a check whenever you need the extra cash over the draw period. There’s no prepayment penalty, no annual fee and no closing costs for lines under $250,000*. For lines over $250,000, title insurance is required to be purchased by the borrower(s).
When it comes to remodeling your home, consolidating debt, or making other major purchases, a Home Equity Line of Credit from MCT is a smart financing option. It offers low fixed rates, plus the flexibility of accessing your line of credit whenever you need it, up to your available credit line.
MCT Advantage: Carve out any amount and convert it to a fixed rate, up to your available line of credit! You’ll always know exactly what your payment is and as you pay off your fixed-rate lock balance, your line of credit funds become available to use again.
Your revolving line of credit has a variable annual percentage rate (APR) indexed to the Wall Street Journal Prime Rate. You can lock in segments of your HELOC loan within your approved credit limit at a fixed rate and term up to five times during the draw period.
Apply online* MCT pays all closing costs, with the exception of title insurance fees. For lines over $250,000, title insurance is required to be purchased by the borrower(s). If you terminate your account within 36 months of opening it, you will be required to pay an Early Closure Fee consisting of (1) a $200 base fee, plus (2) any closing fees MCT paid on your behalf. APR (Annual Percentage Rate): Will be based on the Wall Street Journal Prime, as published daily. Your APR may vary and rates are subject to change. Maximum APR is 18%. Requirements: Minimum loan amount is $10,000. Only for loans secured by the borrower’s primary or secondary residence (excluding investment properties) in Pennsylvania. Homeowners insurance is required. Subject to credit approval and underwriting standards of Mauch Chunk Trust Company.
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Mauch Chunk Trust Company NMLS #417258 |