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Buying a new home is undoubtedly one of the biggest decisions you'll ever make. Finding a home that you love and can afford is only one step in the mortgage process. Penn State Federal is able to help!

You've probably heard or read about the many changes that have occurred over the past few years in the mortgage industry, but rest assured, Penn State Federal can completely guide you through the mortgage application process so you can achieve the goal of home ownership.

Penn State Federal has always used sound financial management and underwriting practices and will continue to do so amidst this ever-changing mortgage industry. Penn State Federal has been serving the Penn State Community since 1959.

FREE Mortgage Pre-Approvals!
Know what you can afford before looking. Get pre-approved within 24 hours!

Available Mortgage Products

  • Conventional Fixed and Adjustable mortgage products
    (for primary residence, second/vacation homes and investment properties)
  • Government loans: FHA and VA products. Due to the special attention required with US Government loans, please contact our Mortgage Department for FHA, PHFA, USDA and VA loans.
  • Fixed Rate terms: 10, 15, 20, and 30 year mortgages

What to Expect: The Mortgage Process

Step one

Make an appointment with one of our experienced, professional Mortgage Specialists or complete our easy, user-friendly online mortgage application.

You can expect to provide

  • One month most recent pay stub/stubs with YTD earnings for each borrower
  • Two months of bank statements
  • One retirement account statement
  • 2 years of W-2 forms for each borrower
Step two

Penn State Federal's Mortgage Specialists will send your mortgage application and all the required disclosures and documentation to our trusted credit union-owned mortgage servicing organization (CUSO) upon approval from the automated underwriting system for processing.

Step three

You will be contacted by your loan officer from our CUSO. You can also choose your settlement company/closing attorney at this time.

Step four

Your mortgage application and required documentation will be efficiently processed and underwritten. Our Mortgage Specialist will be overseeing the process and in touch with you every step of the way!

Step five

Upon approval, your loan officer will coordinate closing with you, the settlement agent and the realtor. At this time, you will need to provide a paid receipt and declaration page for your homeowner's insurance premium.

Step six

CONGRATULATIONS! You’re ready to move into your new home!

Apply Today (external website) from the comfort of your own home and on your schedule! If you prefer, we will gladly meet with you in person.


Darla Owlett, Mortgage Originator NMLS #417210, 1937 N Atherton St, State College, PA 16803

Beth Walker, Mortgage Originator NMLS #617436, 1937 N Atherton St, State College, PA 16803

Additional Resources

Mortgage Calculators (external website)

Housing counseling agencies approved by the U.S. Department of Housing and Urban Development (HUD) can offer independent advice about whether a particular set of mortgage loan terms is a good fit based on your objectives and circumstances, often at little or no cost.

If you are interested in contacting a HUD-approved housing counseling agency in your area, you can visit the Consumer Financial Protection Bureau's (CFPB) website, www.consumerfinance.gov/find-a-housing-counselor (external website), and enter your zip code.

You can also access HUD's housing counseling agency website via www.consumerfinance.gov/mortgagehelp/ (external website).

For additional assistance with locating a housing counseling agency, call the CFPB at 1-855-411-CFPB (2372).