SLFCU's Home Loan Options

With these home loans, SLFCU combines a low rate with payment stability similar to our fixed-rate mortgage.

• Budgeting predictability - lock in rates and payments for 5- or 15-year periods
• Low closing costs - for jumbo loans, too
• No Private Mortgage Insurance (PMI) required
• Payments that fit your budget - terms up to 30 years and no points

5/5 ARM 

This mortgage is a smart choice for first-time homebuyers and those who may move or refinance within five to seven years. Get the security of a rate and payment that adjust only once every five years.

• Down payments as low as 3% (5% in California) for first-time homebuyers
• Rate caps for peace of mind - each adjustment is capped at 2%, and your rate will never increase more than 5% above your origination rate

Get started today: Apply Now

15/15 ARM

This mortgage is perfect for growing families or near-retirees who expect to move within 15 years.

• Down payments as low as 3% (5% in California) for first-time homebuyers
• Lower rates and closing costs than a fixed rate mortgage
• Your rate will only adjust once during the life of the loan and is capped at 6% above your loan origination rate

Get started today: Apply Now

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).

Consider this mortgage if you are looking for long-term rate and payment stability.

SLFCU offers jumbo loans. Take advantage of low closing costs on jumbo products including our 5/5 adjustable rate mortgage, second mortgages, construction loans, and Home Equity CreditLines.

This mortgage is ideal for homebuyers shopping in expensive housing markets, such as California.

Go from a vacant lot and blueprints to move-in day with financing and terms to fit your budget. An SLFCU Construction Loan has a 12-month construction period with interest-only payments while you're building.

Get great terms and low costs from SLFCU. With terms up to 12 years, 75% loan-to-value, and no points, you can get more for your investment dollar. Give us a call and speak to an SLFCU Loan Officer for more information or to apply.

RENTAL PROPERTY LOANS

If you're a real estate investor, take advantage of our Non-Owner-Occupied mortgages and CreditLines, with money-saving closing costs. You can cover repairs and upgrades to the rental property or use the funds for anything you need.

• Amortization up to 30 years with a balloon payment at 15 years to give you payments that fit your plans*
• Mortgages and CreditLines are available for rental properties up to a four-plex (click here for information about larger properties).

*Does not apply to Home Equity CreditLines

ADJUSTABLE RATE MORTGAGES

Our ARM gives you competitive interest rates, low closing costs, and guaranteed payments for one-year periods. Rates are much more stable than the those you'd find on other ARMs because they are based on a six-month moving average of the slow moving 10-Year U.S. Treasury Note.

NON-OWNER-OCCUPIED MORTGAGES AND EQUITY CREDITLINES

If you're a real estate investor, take advantage of our Non-Owner-Occupied Mortgage Loan or Equity CreditLines with money-saving closing costs to cover repairs, upgrades, or anything you need.

Qualified California home buyers can take advantage of down payments as low as 5% and no private mortgage insurance by combining this 5/5 second mortgage with an SLFCU fixed rate mortgage, 15/15 ARM, or 5/5 ARM.

LTV = Loan-to-value. $45 initial credit report fee for all mortgages. Index is the one-month average yield of the 10-Year Treasury Note. Third party and additional fees may apply in certain circumstances. You will receive an estimate of closing costs when you apply. Consult your tax advisor regarding the deductibility of interest. You must insure the property that secures the loan. If loan does not close, fees incurred will be charged to the member. Subject to credit approval. Fees subject to change without notice. APR calculations are based on the following loan amounts: Non-Jumbo: $180,000, Jumbo: $500,000.

¹ Rate and payments adjust only once every 5 years. Rate is variable and can increase by no more than 2.0% every five years with a lifetime cap of 5.0%. 4.5% floor rate.

² Since the index in the future is unknown, the Current Calculation of the Rate for the Remaining Term displayed is based on the current index plus margin (fully -indexed rate) as of the date above, subject to the floor rate for the product. Rates are rounded to the nearest eighth of a percentage point (0.125%).