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SLFCU's Home Loan Options

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SLFCU's home loans work for you. Whether you're a first-time home buyer, have a growing family, need to downsize, or are looking to refinance, SLFCU has a loan that meets your needs.

All of our mortgages are retained and 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. Meet our team.

Adjustable Rate Mortgages (ARMs)

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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% 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 original rate

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% 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
Fixed Rate Mortgages

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 retained and 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.


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.

Jumbo Loans

SLFCU offers jumbo loans. Take advantage of low closing costs on jumbo products including our 5/5 and 15/15 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.

Construction Loans

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.

Vacant Land

Get great terms and low costs from SLFCU. With a term of 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.

Investment Properties


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.

*Does not apply to Home Equity CreditLines


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.


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.

Mortgages for California Purchases

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.

2nd 5/5 ARM for California Purchases
Effective Date: Monday, December 5th, 2022
Type1TermMaximum Combined LTVInitial RateAPRCurrent Calculation of Rate Remaining Term2Payment Per $1,000 Financed
5/5 2nd 20 90% As low as 5.98% As low as 6.13% 6.000% $6.06
5/5 2nd 20 95%       $6.06

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.

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%).

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. Available rate based on credit history. Not everyone will qualify for lowest rate. 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.

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5/5 and 15/15 Mortgages

Adjustable rate mortgages. Rate adjusts every 5 or 15 years.


5/5 Mortgage
As low as 4.875 (1st 5 Years) / As low as 5.357% APR

15/15 Mortgage
As low as 6.750 (1st 15 Years) / As low as 6.689 APR