- Properties must be located in North Carolina, South Carolina, Virginia, Georgia, or Tennessee. Manufactured homes can typically serve as collateral but must be the borrower's primary residence. Property insurance is required. Additional terms and restrictions may apply.
- Loan-to-value (LTV) is the ratio comparing the amount of your mortgage with the appraised value of the property.
- For purchases, maximum financing and loan-to-value financing tier are based on the lesser of the sales price or appraised value of the property securing the loan. Member is responsible for appraisal costs.
- Up to 100% financing available for purchases and no cash-out refinances of single-family primary residences. Up to 90% financing available for cash-out refinances of primary residences. Cash-out is defined as any funds that exceed the balance owed on the first mortgage being paid off, plus closing costs. Greater than 90% financing is relegated to a maximum loan of $500,000. Additional restrictions may apply. Up to 90% financing for purchases and no cash-out refinances of secondary residences; further limited to 75% loan-to-value for cash-out refinances. Up to 85% financing available for the purchase of a one-unit investment property or a no cash-out refinance of a one-unit investment property; further limited to 75% loan-to-value for cash-out refinances. Up to 75% financing available for the purchase of a two- to four-unit investment property or a no cash-out refinance of a two- to four-unit investment property; further limited to 70% loan-to-value for cash-out refinances. Each member may finance up to six properties with SECU, but only one may be financed at greater than 90% LTV.
- APR = Annual Percentage Rate. APR is your cost over the loan term expressed as a rate. Rates are subject to change daily. Stated APR based on a purchase transaction with a loan amount of $250,000 for a maximum term allowed for each loan program.
- This is a variable rate loan, and the interest rate can increase over the life of the loan. SECU ARM rates can increase or decrease a maximum of 2% every 60 months up to a maximum of 6% over your initial interest rate during the life of the loan.
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Offerings for your needs
SECU provides several loan options to fit your unique goals.
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Leverage local experts
Connect with our local mortgage team for any questions.
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Free pre-qualification
Shop for your home knowing how much you can afford in a mortgage.
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Straightforward process
Apply online, by phone, or at your local branch.
Featured mortgage rates
The mortgage types shown below represent a sample of our home loan products. The rates shown are based on a $250,000 loan up to the maximum term length for a single family home.1 Payments represent principal and interest only; taxes and insurance are not included. Therefore, the actual payment obligation will be greater.
| Loan type | Loan-to-value2,3,4 | Rates (APR5) as low as | Monthly payment |
|---|---|---|---|
| 5-Year ARM†6 | 80% or less | 5.125% (5.389% APR) | $1,361.22 (years 1-5) $1,395.14 (years 6-30) |
| First-Time Homebuyer's (5-Year ARM†)6 | 100% | 5.775% (6.256% APR) | $1,462.90 (years 1-5) $1,548.27 (years 6-30) |
| 15-Year Fixed | 90% or less | 5.250% (5.438% APR) | $2,009.69 |
| 30-Year Fixed | 90% or less | 6.250% (6.370% APR) | $1,539.29 |
†Maximum term of 30 years
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Apply
Apply in person at a local branch, online in Member Access (via the Mortgage Center), through the SECU Mobile App, or by phone at (877) 589-1547.
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Gather documentation
Our mortgage specialists will gather all required documentation, including income information, a credit check, and an appraisal order.
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Process underwriting
We complete the mortgage underwriting.
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Closing
Once approved, closing for refinancing and HELOCs typically take place at a local branch. A licensed attorney handles real estate purchase closings.
Let's get started
Frequently asked questions about mortgages
SECU offers the following mortgage products:
SECU members can get pre-qualified online, over the phone, or by visiting their local branch. To receive a pre-qualification letter, SECU members must consent to a credit check and provide details on income, debt, and assets, as well as residential and employment history. Once the application for pre-qualification is completed, a pre-qualification letter is typically generated within one business day.
Yes, these materials will be considered part of the loan application process.
Most credit scoring models are built so you can shop for a mortgage within a certain period — generally between 14 days and 45 days — with little or no impact on your score.
Various factors, including the amount of the down payment or equity, term of the loan, and market conditions determine individual mortgage interest rates.
Closing costs are fees you pay when finalizing a home-buying or home-refinancing transaction. SECU may assess an origination fee, which is capped at $2,500 and based on your mortgage loan type and amount. Origination fees do not apply to HELOCs. You must also pay SECU for an appraisal that is completed by a third party. The remainder of the charges, such as title insurance, attorney fees, homeowners insurance, and property taxes, are paid to third parties. The loan estimate (not applicable for HELOCs), provided within three days of receiving a completed application, estimates what closing costs you can expect.