SDCCU
search
ATM & BRANCHES
LOG IN

No Closing Costs Home Loans

5/5 Adjustable Rate Mortgages

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:
2.875%Rate    3.758%APR²  
Payment example for a $510,400 30 year term with an initial 3.758% APR and with maximum periodic rate increases: $2117.61 per month at an interest rate of 2.875% for the first 5 years; $2613.79 per month at an interest rate of 4.875% for years 6-10; $3073.03 per month at an interest rate of 6.875% for years 11-15; $3268.04 per month at an interest rate of 7.875% for years 16-30. Payment example does not include amounts for taxes or insurance premiums; actual payment obligation may be greater.

 

Benefits of each loan:

 
5/5 ARM
5/5 Power
Purchase
5/5 Power
Purchase Plus
Pay no closing costs1
SDCCU pays your mortgage insurance  

As little as 5% down payment, up to 95% loan-to-value3

   
Just 10% down payment, up to 90% loan-to-value3    

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                      
   

Get pre-qualified for your SDCCU home loan today!

 

The rate is 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 is determined by the weekly average yield on the United States Treasury securities adjusted to constant maturity of five years (CMT) as made available by the Federal Reserve Board plus a margin of 2.75%. Available for loan amounts up to $3,000,000 at 80% loan-to-value.  Verification of income, credit, assets, homeowners insurance, hazard, and, if applicable, flood insurance required. APR, rates, terms and conditions are subject to change. This offer does not apply to refinances.

¹No Closing Costs offer available for owner occupied primary residential purchases, properties owned free and clear and external (non-SDCCU) refinances only. 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, rate lock extension, rate re-lock, rate float down, 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 1/6/2020. ³Down payment must be from own funds, gift funds not allowed.