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SLFCU’s Livermore Downtown Branch will open at 9:30 a.m. on Tuesday, June 25. Online and mobile banking will remain available.

SLFCU is here for members affected by the wildfires and evacuations in the Ruidoso area. If you are impacted, click here to learn about support options.

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Sandia Laboratory Federal Credit Union Sandia Laboratory Federal Credit Union Go to main content
Routing #307083911|
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Couple moving in to a new home.

SLFCU's Home Loan Options

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Estimate Your Payments

SLFCU's home loans work for you. Whether you're a first-time homebuyer, 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.

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Adjustable Rate Mortgages (ARMs)

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SLFCU's ARMs combine 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, with terms up to 30 years and no points

7/1 ARM 

This mortgage is a great choice for those who may move or refinance within seven years. Get the stability of a seven-year fixed interest rate, a rate and payment that adjust annually after that, and a 30-year term with no points.

  • More purchasing power: The 7/1 ARM offers a lower qualifying rate than other loan types, meaning you could qualify for a bigger amount
  • Down payments as low as 3% for first-time home buyers
  • Rate is capped at 3.5% at the first adjustment, and cannot increase or decrease by more than 2% at each annual adjustment after that

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.

LOW DOWN PAYMENTS, NO PMI

With a good credit history, you can put down as little as 3%. 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 a long-term rate and payment stability.

Jumbo Loans

Take advantage of low closing costs with SLFCU's jumbo loans, including our 7/1, 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

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 1-4 family rental properties 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 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 or Home Equity CreditLines with money-saving closing costs to cover repairs, upgrades, or anything you need.

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. 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. Each adjustment is capped at 2%, and the rate will never increase more than 5% above the origination rate. Rate is based on the then-current index plus margin, rounded to the nearest eighth of a percentage point, and is subject to the floor rate.

7/1 Adjustable Rate Mortgage Disclosure: Rate for the remaining term adjusts annually after the initial seven-year period. The rate cannot increase or decrease by more than 3.5% at the first adjustment, or by more than 2% at each annual adjustment after that. Rate is based on the then-current index plus margin, rounded to the nearest eighth of a percentage point, and is subject to the floor rate.

15/15 Adjustable Rate Mortgage Disclosure: Rate for the remaining term adjusts once after the initial 15-year period and is capped at 6% above the loan origination rate. Rate is based on the then-current index plus margin, rounded to the nearest eighth of a percentage point, and is subject to the floor rate.
 


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5/5 , 15/15, and 7/1 Mortgages

Adjustable rate mortgages. Rate adjusts every 5 or 15 years, or once per year after seven years for the 7/1 ARM.
 

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5/5 Mortgage
As low as 6.500% (1st 5 Years) / As low as 6.697% APR

15/15 Mortgage
As low as 7.000% (1st 15 Years) / As low as 7.102% APR

7/1 Mortgage
As low as 6.250% (1st 7 Years) / As low as 6.432% APR