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Fixed Rate Mortgages

Get predictable monthly mortgage loan payments with a fixed rate loan for the duration of your mortgage.  

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Understand your options

Is a Fixed Rate Mortgage the right option for you? This type of mortgage is ideal for those wanting consistent mortgage loan payments and terms for the life of the loan. These scenarios are common when choosing a fixed rate loan: 

Buying a long-term home

Settling down? Getting a fixed interest rate for your long-term home provides stability in your budget year after year. 

Shopping in a low-interest rate market

When interest rates are low, you can potentially save money by locking in a low rate. 

Sticking to a tight budget

If a small rate increase would mean financial stress for your household, you may be better off with the certainty of a fixed rate loan.

Features of SECU Fixed Rate Loans

  • Multiple term options

    Choose from a variety of loan terms. Private mortgage insurance (PMI) is not required.

  • Low fees

    Our loans do not require application or credit report fees.1 

  • Lending footprint

    Purchase or refinance primary residences, second homes, and investment properties in North Carolina, South Carolina, Virginia, Georgia, and Tennessee.

  • Tax and insurance included

    Your monthly payment includes principal, interest, and an estimated amount to cover annual property taxes and applicable insurance premiums.

Get pre-qualified for a mortgage

SECU offers no-cost, no-obligation pre-qualifications to members 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, assets, and residential and employment history. Once the pre-qualification form is completed, a pre-qualification letter is typically generated within one business day.

Get pre-qualified
Getting pre-qualified can help you:

  • Understand the home loan amount you can afford.

  • Shop with confidence knowing what price range you can afford.        

  • Demonstrate your creditworthiness in your offer.

  • Reduce timelines and potentially close on your dream home faster.

Compare Fixed Rate Mortgage Loan options

10-Year Fixed Rate Mortgage

Repay your home loan over 10 years with a fixed interest rate.

  • Shorter repayment period compared to longer-term loans
  • Pay less in interest compared to longer-term loans
  • Potentially build equity faster
Apply now

15-Year Fixed Rate Mortgage

Pay off your mortgage in 15 years with a fixed interest rate.

  • Pay less in interest compared to longer-term loans
  • Potentially build equity faster
Apply now

20-Year Fixed Rate Mortgage 

Repay your home loan in 20 years with a fixed interest rate.

  • Pay less per month than comparable shorter-term loans
Apply now

30-Year Fixed Rate Mortgage 

Our longest-term option with a fixed interest rate.

  • Pay less per month than comparable shorter-term loans
Apply now

Fixed Rate Mortgage rates

These rates are based on a $250,000 loan up to the maximum term length for a single family home.2 Payments represent principal and interest only; taxes and insurance are not included. Therefore, the actual payment obligation will be greater.

Loan typeLoan-to-value3,4,5Rates (APR6)
as low as		Monthly payment
10-Year Fixed Rate90% or less5.300% (5.518% APR)$2,688.45
10-Year Fixed Rate90.01 - 95%5.500% (5.719% APR)$2,713.14
15-Year Fixed Rate90% or less5.500% (5.654% APR)$2,042.70
15-Year Fixed Rate90.01 - 95%5.800% (5.955% APR)$2,082.72
20-Year Fixed Rate90% or less6.200% (6.325% APR)$1,820.03
20-Year Fixed Rate90.01 - 95%6.750% (6.878% APR)$1,900.91
30-Year Fixed Rate90% or less6.500% (6.596% APR)$1,580.15

Disclosures

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Frequently asked questions about Fixed Rate Mortgages

Closing costs are fees you pay when finalizing a home-buying or home-refinancing transaction. SECU may assess an origination fee based on your loan amount, which is capped at $2,500, based on your 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. 

You can use our mortgage payment calculator to calculate an estimated monthly payment based on the loan term. 

Adjustable rate mortgages, also known as variable-rate mortgages, have interest rates that may change periodically based on the corresponding financial index. Fixed rate mortgages have an interest rate that remains the same for the life of the loan. 

Related resources

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    Home Affordability

    Your ability to obtain a loan for a new home purchase is based on a number of factors. Use our calculator to evaluate home affordability by lending ratios.
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    Compare Two Mortgage Loans

    Compare mortgages to determine which one you should choose.
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View all learning resources

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  1. Origination fees (what SECU charges for processing the mortgage loan) are assessed for 1% of the loan amount, capped at $2,500.
  2. Manufactured homes can typically serve as collateral but must be the primary residence of the borrower. Terms are limited to a maximum of 20 years.
  3. Loan-to-value (LTV) is the ratio comparing the amount of your mortgage with the appraised value of the property. 
  4. For purchases, maximum financing and loan-to-value (LTV) financing tiers are determined based on the lesser of the sales price or appraised value of the property securing the loan. Member is responsible for appraisal costs.
  5. Up to 95% financing available (up to a maximum loan of $500,000) for purchases and no cash-out refinances of single-family primary residences (except for 30-year term option). Up to 80% financing available for cash-out refinances of primary residences. Cash-out is any funds that exceed the balance owed on the first mortgage being paid off, plus closing costs. Up to 90% financing available for purchases and no cash-out refinances of a second home. Up to 85% financing available for the purchase of a one-unit investment property or for a no cash-out refinance of an investment property; further limited to 75% LTV for one-unit investment property cash-out refinances. Up to 75% financing available for the purchase of a two- to four-unit investment property or for a no cash-out refinance of an investment property; further limited to 70% LTV for a two- to four-unit investment property cash-out refinances. Each member may finance up to six properties with SECU, but only one may be financed at greater than 90% loan-to-value (LTV).
  6. 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.