SLFCU now offers fixed rate mortgages that are processed, approved, closed, and serviced by SLFCU professionals. When you have a question, you’ll always talk to someone at the Credit Union.
With our new fixed rate mortgage options, you’ll be able to lock in a rate that will provide a principal and interest payment that is constant for the life of the loan. Your homeowners’ insurance and property tax amounts could vary.
SLFCU’s mortgages have low closing costs and a variety of terms that meet your budget, from 10 to 30 years. For the lowest monthly payments, choose a 30-year term. You may decide to pay points to lower your interest rate. With a shorter term, you can lock in a lower rate and build equity in your home faster.
If you plan on staying in your home for a decade or more, there is a long-term stability to fixed rate mortgages that many borrowers find beneficial.
For those who plan on refinancing or buying another home within five to seven years, SLFCU’s 5/5 Adjustable Rate Mortgage might be a better option. You’ll get a low interest rate and closing costs, and a rate that won’t change for the first five years.
SLFCU is here to help you every step of the way. Visit www.slfcu.org for convenient online tools that allow you to view current rates, use loan calculators, learn about the mortgage loan process, and apply online. Contact an SLFCU loan officer to discuss our mortgage options and get answers to any questions you may have, at 505.237.7161 or 800.947.5328 x7161.
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