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Mortgage & Home Equity Rates
Fixed Rate MortgagesUpdated 8/2/2022 |
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Type of Loan | Term (Approx.) |
APR | Example Monthly Payment 1 | |
---|---|---|---|---|
1st Mortgage |
10 Yr | 5.250% | $1,072.92 | |
15 Yr | 5.500% | $817.08 | ||
20 Yr | 5.750% | $702.08 | ||
Vacation & 2nd Homes | 10 Yr | 8.000% | $1,213.28 | |
15 Yr | 8.250% | $1,226.53 | ||
20 Yr | 8.500% | $1,239.86 | ||
Bare Land Loan | 12 Yr | 12.000% | $1,434.71 | |
Mobile Home and Land | 10 Yr | 8.500% | $1,239.86 | |
15 Yr | 9.000% | $1,014.27 | ||
20 Yr | 9.500% | $932.13 | ||
¹ Monthly Payment Examples assume a loan amount of $100,000. Taxes and insurance premiums are not calculated into the example which could result in a higher monthly payment. - All ARM products are based on a 30 year amortization - 1st Mortgage, Owner occupied - 80% of Purchase Price or Appraised Value whichever is less - Greater than 80% LTV requires PMI Insurance - Vacation Homes/2nd homes are .25% higher and require 20% down payment - Manufactured Loans minimum down payment 20%, New Home only for ARM's; new and used available for fixed rates - Escrow may be required - One to four family primary residence; no commercial property Adjustable Rate Mortgage rate and payment changes: |
Variable Rate MortgagesUpdated 8/2/2022 |
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Type of Loan | Initial Rate | Index | Rate Change Frequency |
Margin | Max Rate Change Per Period |
Max Rate Life Time Change |
Floor | Monthly 1 Payment Example |
---|---|---|---|---|---|---|---|---|
5/1ARM | 4.375% | 1 YR- TCM | annually | 2.90% | 2.00% | 5.00% | 5.00% | $499.29 |
5/5 ARM | 4.250% | 5 YR - TCM | every 5 yrs | 2.90% | 2.00% | 5.00% | 5.00% | $491.94 |
Mobile Home & Land 5/1 ARM | 5.000% | 1 YR- TCM | annually | 4.50% | 2.00% | 5.00% | 5.00% | $536.82 |
¹ Monthly Payment Examples assume a loan amount of $100,000. Taxes and insurance premiums are not calculated into the example which could result in a higher monthly payment. - All ARM products are based on a 30 year amortization - 1st Mortgage, Owner occupied - 80% of Purchase Price or Appraised Value whichever is less - Greater than 80% LTV requires PMI Insurance - Vacation Homes/2nd homes are .25% higher and require 20% down payment - Manufactured Loans minimum down payment 20%, New Home only for ARM's; new and used available for fixed rates - Escrow may be required - One to four family primary residence; no commercial property Adjustable Rate Mortgage rate and payment changes: Before each Change Date, we will calculate the new interest rate by adding the "Margin" to the "Current Index". The rate may not adjust more than the "Max Rate change per Period" indicated above on each "Change Date". |
Fixed Rate Home Equity LoansUpdated 7/29/22 |
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Type of Loan | Term (Approx.) |
APR1 | Example 1 Monthly Payment |
|
---|---|---|---|---|
Fixed Home Equity LTV 80% or less |
60 months | 5.750% | $960.84 | |
120 months | 6.250% | $561.40 | ||
180 months | 6.750% | $442.45 | ||
- 90% of appraisal minus balance owing on the 1st lien - Loans with LTV 81% to 90% at .50% higher - Member Rewards apply to Fixed Home Equity only. - When doing an"SFCU pays closing cost" loan, the rates above increase by .50% 1 Monthly Payment Examples assume a loan amount of $50,000. Taxes and insurance premiums are not calculated into the example which could result in a higher monthly payment. |
HELOCUpdated 7/29/22 |
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Type of Loan | Initial Rate | Margin | Index (Prime) | |
---|---|---|---|---|
HELOC - 80% or Less LTV | 1.990% | 0.00% | 5.50% | |
HELOC 81% and Greater LTV | 1.990% | 0.50% | 5.50% | |
- Index is Prime Rate - Rate change is Quarterly - No Floor rate - Max Rate Interest Rate - 15% - HELOC's are based on a 10 year amortization - Payments are principal and interest with a minimum of $100 monthly HELOC Rate and payment changes: The rate indicated for HELOCs is the initial rate and is subject to increase. The HELOC will have a constant interest rate for one year and then can change quarterly based on the index plus the margin NMLS# 609016 |
Home Improvement LoanUpdated 7/29/22 |
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Type of Loan | Term | Rate | Monthly Payment Example | |
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Home Improvement Loan | 60 months | 11.00% | $217.42 | |
- Junior lien, can be occupied or non owner occupied - Minimum loan amount $2,500 - Maximum Loan Amount $15,000 1 Monthly Payment Examples assume a loan amount of $10,000 at a 5 year loan term. NMLS# 609016 |