Mortgages | LANCO Federal Credit Union

First Mortgage Loans

LANCO has partnered with State Financial Network to offer a wider variety of first mortgage products to our members. State Financial Network is a CUSO (Credit Union Service Organization) based in Broomall, PA. This means that State Financial Network operates under the same credit union philosophy as LANCO.

A broad array of loan options and services are available, including:

Fixed rate loans
A mortgage in which the interest rate does not change during the entire term of the loan.

Adjustable rate loans
A mortgage in which the interest rate changes periodically, according to corresponding fluctuations in an index.

Balloon loans
A mortgage that requires the remaining principal balance be paid at a specific point in time. For example, a loan may be amortized as if it would be paid over a 30 year period, but requires that at the end of the 10th year the entire remaining balance must be paid.

Jumbo loans
A mortgage that exceeds the generally accepted secondary market loan limits which vary annually.

Construction loans
A short term, interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses.

Interest Only loans
An Interest Only mortgage only requires monthly interest payments. Since you are not paying any principal, this can lower your monthly payment. At the end of the interest-only period, your loan reverts back to its original terms, with the monthly payments adjusted upward to reflect full amortization over the remaining years of the loan.

To speak with a State Financial Network representative about their products and services, please call:

(610) 325-5002
or Toll Free: (800) 426-7140

If you have a mortgage through State Financial Network:

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First Mortgage Loans

A broad array of loan options and services are available, including: