Education is Essential

Buying a Home? We Have Plenty of Mortgage Options!

Buying a home is a big decision. It can be stressful especially for first time buyers without experience with mortgages. Essential Federal Credit Union has been serving Plaquemine and the surrounding area with fast, convenient mortgage services since 1972. We take pride in being your local federal credit union. 

Finding the Right Mortgage in Plaquemine

Choosing your mortgage is one of the most important decisions when buying a home. At Essential FCU, we have plenty of options to ensure that you choose the one that best fits your situation. Our application process is fast and convenient, and we want to invest in our local community. 

Our mortgage options have flexible terms, low down payments, refinancing options, free rate quotes, and personalized service. We won’t penalize you for prepaying, and we don’t require private mortgage insurance (PMI) in most cases. We have the right option for you. 

Our Smart Saver Mortgage includes a low, fixed rate and offers 100% financing with no PMI. The conventional Fannie Mae and Freddie Mac programs have low interest rates, high loan approval, and low closing costs. These programs can finance up to 95%. 

The Federal Housing Administration (FHA) loan option is one of our most popular mortgage options in Plaquemine. The FHA option has no income or location restrictions. This program does require upfront mortgage insurance. 

Essential FCU is proud to support our veterans, which is why we offer an excellent VA mortgage option. This program has 100% financing with only minimum mortgage insurance. This program does not have income limits and can be used for new purchases and refinance. 

If your family is growing and you are making a big upgrade in your home, we also offer a Jumbo Loan Program. This program finances up to 90% loan to volume. It does require PMI for loan values over 80%. So, if you are in need of a larger loan than usual, this is the program for you. 

Necessary Documentation

Whether in Plaquemine or the surrounding area, mortgages require paperwork to be approved. Noting the type of property and type of financing you are using is important. You will also need the previous 2 years of W-2 forms or other employment verification. 

Additional paperwork includes your housing history for two years, and most recent retirement statements. To see the full list, click here

Online Accessibility

Essential FCU is proud to provide eServices to our customers. We want to make banking with us as convenient as possible. With our eServices, users are able to do complete online banking, which includes bill pay, from the mobile device or computer. eServices can cut down on waiting in line and fighting traffic. 

Contact Us

If you would like to discuss our mortgage options further, please feel free to visit us at our Plaquemine branch. We are located at 21925 Highway 1 South, Plaquemine, LA. Our office hours are Monday through Friday from 8:00 a.m. – 5:00 p.m., and Saturday from 9:00 a.m. – 12:00 p.m. You can also reach us at eservices@essentialfcu.org or 1-888-369-2207. Trust Essential FCU for all your mortgage needs.