Fixed Rate Mortgages
The Credit Union offers fixed rate mortgages to purchase or refinance primary residences, second homes and investment properties located in North Carolina, South Carolina, Virginia, Georgia and Tennessee unless further restricted as outlined below. The maximum loan amount, as it relates to the property value or the purchase price, and interest rate depend on many factors including the purpose of the loan, the type of mortgage, number of dwelling units, and occupancy status. Funds are collected with each payment, in addition to your principal and interest payment, to allow for the disbursement of the estimated annual property tax and insurance premiums. These funds are placed in an escrow account until the tax and insurance premium payments are due and earn dividends equal to the share account rate.Learn more about the SECU Fast Mortgage® service »
10-Year Term Fixed Rate Mortgage
Taxes and insurance are not included in the estimated monthly payment amount. Your actual monthly payment will be greater.
Contact your local branch for additional information.
Taxes and insurance are not included in the estimated monthly payment amount. Your actual monthly payment will be greater.
Contact your local branch for additional information.
15-Year Term Fixed Rate Mortgage
Taxes and insurance are not included in the estimated monthly payment amount. Your actual monthly payment will be greater.
Contact your local branch for additional information.
Taxes and insurance are not included in the estimated monthly payment amount. Your actual monthly payment will be greater.
Contact your local branch for additional information.
20-Year Term Fixed Rate Mortgage
Taxes and insurance are not included in the estimated monthly payment amount. Your actual monthly payment will be greater.
Contact your local branch for additional information.
Taxes and insurance are not included in the estimated monthly payment amount. Your actual monthly payment will be greater.
Contact your local branch for additional information.
30-Year Term Fixed Rate Mortgage
Taxes and insurance are not included in the estimated monthly payment amount. Your actual monthly payment will be greater.
Contact your local branch for additional information.
- Up to 100% financing2 available for purchases and no cash-out refinances of single-family primary residences (except for 30-year term option)
- Up to 90% financing available for cash-out refinances of primary residences
- Up to 90% financing available for a second home
- Up to 80% financing available for the purchase of a rental property or for a non-cash out refinance of an investment property; further limited to 65% LTV for cash-out refinances3
- Each member may finance up to six properties with the Credit Union, but only one may be financed at greater than 90% LTV
- For purchases, maximum financing and loan-to-value financing tier determined based on the lesser of the sales price or appraised value. Member is responsible for appraisal cost.
- Manufactured Homes can typically serve as collateral but must be the primary residence of the borrower and terms are limited to a maximum of 15 years (See Special Mortgage Programs for additional details)
- Origination fee 1.00% of loan amount (cap of $2,500)
- No application fees or credit report fees
- Private mortgage insurance is not required
- Initial rates are subject to change daily
2 100% financing up to a maximum loan of $500,000.
3Cash out is defined as any funds that exceed the balances owed on the first and/or second mortgages being paid off, plus closing costs.