Fixed Rate Mortgages
Consider this mortgage if you are looking for long-term rate and payment stability. Lock in a low interest rate and get a fixed monthly payment, a variety of terms, and the option to pay points to reduce your rate.
Your fixed rate mortgage will be serviced by SLFCU – from application and processing to closing the loan and beyond. When you make a payment or have a question, you’ll talk to the professional, friendly staff at SLFCU.
LOW DOWN PAYMENTS, NO PMI
With a good credit history, you can put down as little as 5% in most markets; for lower credit scores, a 10% down payment is required. SLFCU can loan 80% on a first fixed-rate mortgage and finance the rest with an adjustable rate second mortgage. With this loan structuring, you avoid paying Private Mortgage Insurance (PMI).
FIXED RATE MORTGAGE RATES
|Fixed Rate Mortgages|
|Effective Date: Friday, May 29, 2020|
Mortgage Disclosure: Maximum loan-to-value is 80% for all fixed rate mortgages and standard adjustable rate mortgages. Rates subject to change; check with SLFCU for current rates. If loan does not close, fees incurred will be charged to the member. A $45 initial credit report fee applies to all loans. All loans subject to credit approval. Contact SLFCU for details.
5/5 Adjustable Rate Mortgage Disclosure: Rate for the remaining term adjusts every five years and is based on the then-current index plus margin, rounded to the nearest eighth of a percentage point, and subject to the floor rate.Go to main navigation