Buying or refinancing a home is exciting!
But, it can also be confusing. That’s why our experienced mortgage lenders are here to answer all your questions and break down the whole process. Our mortgage products are locally serviced by SCU, so you’ll know we’ve got you every step of the way.
Start your online mortgage application by selecting an option below and then creating an account, or return to the Borrower Portal to complete an application you’ve already begun. If you need help, our experienced MLOs (mortgage loan originators) are here for you.
Fixed Rate Mortgage
We offer a fixed rate mortgage with a monthly or bi-weekly payment schedule. This ensures the monthly principal and interest payments remain the same throughout the life of the loan. The most common mortgage terms are 30 and 15 years. With a 30 year fixed rate mortgage, your monthly payments are lower than they would be on a 15 year fixed rate, but the 15 year loan allows you to repay your loan twice as fast and save more than half the total interest costs. If you like to know exactly what each payment amount will be, then a fixed rate mortgage is right for you!
Adjustable Rate Mortgage
Don’t mind if your monthly payments change? Then let us introduce you to the adjustable rate mortgage known as an ARM. The adjustable rate mortgage has an interest rate that is adjusted periodically during the term of the loan. Generally, these changes are determined by a margin and an index so that the interest rate changes, up or down, are based on market conditions at the time of the change. Most often, these interest rate changes are limited by a rate change cap and a lifetime cap. SCU offers 1 year, 3 year, 5/1 year, 7/3 year, and 10/5 adjustable rate mortgages.
Construction Permanent Mortgage
Building a new home? A construction permanent mortgage loan from SCU is the right one for you. We offer 80% loan-to-value financing, and once your home is completed, the mortgage is automatically converted to permanent financing. For rates, please call 888-599-2265 and ask to speak with our lending center.
Subject to credit approval. Rates subject to change without notice. Maximum loan amount is $1,500,000.00. SCU may lend up to 80% of the loan-to-value of the appraised value as built. Applicant to pay for closing cost. Closing fees apply. Property Insurance is required to open and maintain the construction mortgage. Construction loan is only for owner-occupied 1-4 family dwellings. Membership to SCU requires a one-time dividend-earning deposit of $5.00 in a prime share account. Equal Housing Opportunity. Equal Opportunity Employer. Federally insured by NCUA. NMLS ID#: 616673.
Vacation Property Mortgage
Have you found your dream vacation home? SCU wants to help make your dreams come true. We’ll help you choose the perfect mortgage for your individual situation and walk you through each step of the process. For rates and requirements, please call us at 888-599-2265 and ask to speak with our lending center.
Found the perfect location for your new home but you’re not yet ready to build the home of your dreams? We offer land mortgages to purchase the land without rushing to build it right away. Once the land is paid off, you will be ready to build with a construction permanent mortgage.