Get predictable monthly mortgage loan payments with a fixed rate loan for the duration of your mortgage.
Is a Fixed Rate Mortgage the right option for you? This type of mortgage is ideal for those wanting consistent mortgage loan payments and terms for the life of the loan. These scenarios are common when choosing a fixed rate loan:
Settling down? Getting a fixed interest rate for your long-term home provides stability in your budget year after year.
When interest rates are low, you can potentially save money by locking in a low rate.
If a small rate increase would mean financial stress for your household, you may be better off with the certainty of a fixed rate loan.
SECU offers no-cost, no-obligation pre-qualifications to members online, over the phone, or by visiting their local branch. To receive a pre-qualification letter, SECU members must consent to a credit check and provide details on income, debt, assets, and residential and employment history. Once the pre-qualification form is completed, a pre-qualification letter is typically generated within one business day.
Repay your home loan over 10 years with a fixed interest rate.
Pay off your mortgage in 15 years with a fixed interest rate.
Repay your home loan in 20 years with a fixed interest rate.
Our longest-term option with a fixed interest rate.
These rates are based on a $250,000 loan up to the maximum term length for a single family home. 2 Payments represent principal and interest only; taxes and insurance are not included. Therefore, the actual payment obligation will be greater.
| Loan type | Loan-to-value 3,4,5 | Rates (APR 6 ) as low as | Monthly payment |
|---|---|---|---|
| 10-Year Fixed Rate | 90% or less | 5.050% (5.267% APR) | $2,657.75 |
| 10-Year Fixed Rate | 90.01 - 95% | 5.250% (5.467% APR) | $2,682.29 |
| 15-Year Fixed Rate | 90% or less | 5.250% (5.403% APR) | $2,009.69 |
| 15-Year Fixed Rate | 90.01 - 95% | 5.550% (5.704% APR) | $2,049.35 |
| 20-Year Fixed Rate | 90% or less | 5.825% (5.949% APR) | $1,765.93 |
| 20-Year Fixed Rate | 90.01 - 95% | 6.375% (6.501% APR) | $1,845.58 |
| 30-Year Fixed Rate | 90% or less | 6.125% (6.219% APR) | $1,519.03 |
Use our calculator to see what your mortgage payment might look like.
Closing costs are fees you pay when finalizing a home-buying or home-refinancing transaction. SECU may assess an origination fee based on your loan amount, which is capped at $2,500, based on your loan type and amount. Origination fees do not apply to HELOCs. You must also pay SECU for an appraisal that is completed by a third party. The remainder of the charges, such as title insurance, attorney fees, homeowners insurance, and property taxes, are paid to third parties. The loan estimate (not applicable for HELOCs), provided within three days of receiving a completed application, estimates what closing costs you can expect.
You can use our mortgage payment calculator to calculate an estimated monthly payment based on the loan term.
Adjustable rate mortgages, also known as variable-rate mortgages, have interest rates that may change periodically based on the corresponding financial index. Fixed rate mortgages have an interest rate that remains the same for the life of the loan.
Your ability to obtain a loan for a new home purchase is based on a number of factors. Use our calculator to evaluate home affordability by lending ratios.
Talk to an SECU mortgage specialist for assistance throughout the mortgage process.
State Employees’ Credit Union conducts all member business in English. All origination, servicing, collection, marketing, and informational materials are provided in English only. As a service to our members, we will attempt to assist those who have limited English proficiency where possible.
SECU will not ask for personal information such as online credentials, account numbers, or card numbers via email, voice or text messaging.
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You are now leaving the Credit Union website. The website you are entering is not affiliated with or controlled by the Credit Union and may have different terms, conditions and privacy and security policies than the Credit Union. The Credit Union does not provide, guarantee, endorse, or assume responsibility for any content, products or services that may be provided by the website you are entering. If you decide to access this website, you do so entirely at your own risk and subject to the terms and conditions of use on such website.
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You are now leaving the Credit Union website. The website you are entering is not affiliated with or controlled by the Credit Union and may have different terms, conditions and privacy and security policies than the Credit Union. The Credit Union does not provide, guarantee, endorse, or assume responsibility for any content, products or services that may be provided by the website you are entering. If you decide to access this website, you do so entirely at your own risk and subject to the terms and conditions of use on such website.
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