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No Closing Costs Home Loans

SDCCU offers great mortgage loan options with No Closing Costs!1 SDCCU’s 5/5 ARM loans offer flexibility, stability and no closing costs. Your rate can only change once every 5 years with a maximum rate adjustment of 5% over the life of the loan!

5/5 Adjustable Rate Mortgages

rates starting as low as:
 
 
3.125% Rate
4.237% APR2
 
 
Payment example for a $424,100 30 year term with an initial 4.237% APR and with maximum periodic rate increases: $1,816.74 per month at an interest rate of 3.125% for the first 5 years; $2,236.81 per month at an interest rate of 5.125% for years 6-10; $2,625.69 per month at an interest rate of 7.125% for years 11-15; $2,791.06 per month at an interest rate of 8.125% for years 16-30. Payment example does not include amounts for taxes or insurance premiums; actual payment obligation may be greater.

 

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Benefits of each loan: 
 
5/5 ARM
5/5 Power
Purchase
5/5 Power
Purchase Plus
Pay no closing costs1
SDCCU pays your mortgage insurance3  

As little as 5% down payment, up to 95% loan-to-value4

   
Just 10% down payment, up to 90% loan-to-value4    

Up to 80% loan-to-value

   
FREE 60-day rate lock

Rate can only change once every 5 years

Maximum rate adjustment of 5% over the life of the loan
Available for refinance
non-SDCCU loans only                      
   

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The 5/5 mortgages are fixed for 5 years, then becomes adjustable and may increase or decrease once every 5 years. Maximum rate adjustment is 2% per five years and 5% over the life of the loan. The interest rate floor is 2.75%. The interest rate quoted is determined by the weekly average yield on the United States Treasury securities adjusted to a constant maturity of five years (CMT) as made available by the Federal Reserve Board plus a margin of 2.75%. Verification of income, credit, assets, homeowners insurance, hazard, and, if applicable, flood insurance required. APRs, rates, terms and conditions are subject to change. 
¹No Closing Costs offer available for owner occupied primary residential purchases and external (non-SDCCU) refinances only (refinance not available on Power Purchase or Power Purchase Plus loans). Subject to approval. SDCCU will pay your closing costs including but not limited to: lender’s title insurance, title services, appraisal, tax service, credit report, flood certification and recording fees. Paid closing costs do not include pre-paid interest, homeowners insurance, initial escrow deposit, owner’s title insurance, or city and/or county transfer tax. Borrower may select escrow and/or title company. Other restrictions may apply. Reimbursement of closing costs: If the loan is paid off within 36 months of origination, a prorated amount of closing costs will be added to the loan payoff amount.
²Rates and APRs are accurate as of 11/27/17. The rates shown are fixed for 5 years, then becomes adjustable and may increase or decrease once every 5 years. Maximum rate adjustment is 2% per five years and 5% over the life of the loan. The interest rate floor is 2.75%. The interest rate quoted is determined by the weekly average yield on the United States Treasury securities adjusted to a constant maturity of five years (CMT) as made available by the Federal Reserve Board plus a margin of 2.75%. Verification of income, credit, assets, homeowners insurance, hazard, and, if applicable, flood insurance required. APRs, rates, terms and conditions are subject to change. Available for loan amounts up to $1,500,000 and 80% loan-to-value (LTV). This offer does not apply to internal refinances. See other available rates and terms.
³See full disclosure regarding lender paid mortgage insurance.
4Down payment must be from own funds, gift funds not allowed.

Why People Love Us

SDCCU Reviews

"I have been a SDCCU member for many years and am still finding out about all of the great things that they do! My questions are answered promptly and in a way that helps me make better financial decisions." Marcus P., San DiegoMember since 2005

San Diego County Credit Union® was founded on the principle that people come first and profits second. This forward-thinking approach in the banking industry has propelled SDCCU® to become San Diego’s BEST Credit Union and largest locally-owned financial institution. SDCCU provides breakthrough banking products that meet the demands of today’s lifestyle and delivers banking services that save customers money. SDCCU serves customers nationwide with 30,000 surcharge-FREE CO-OP ATMs and 43 branch locations in San Diego, Riverside and Orange counties. Open an account today.

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