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

Benefits of each loan:

5/5 ARM
5/5 Power
Pay no closing costs
SDCCU pays your mortgage insurance  
FREE 90-day rate lock

Rate can only change once every 5 years

Maximum rate adjustment of 5% over the life of the loan

Apply online for a 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.  Verification of income, credit, assets, homeowners insurance, hazard, and, if applicable, flood insurance required. 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 and second home purchases, properties owned free and clear and external (non-SDCCU) refinances only. Refinance and second home refinancing not available on Power Purchase loans. Existing SDCCU home loans may be refinanced to the 5/5 ARM but are not eligible for the No Closing Costs offer. 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. Primary residential purchase transactions where seller and/or agent contributions are provided will be applied to the non-recurring closing costs first. In the event seller/agent contributions do not cover all eligible closing costs, SDCCU will cover any eligible remaining costs. 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. SDCCU will not reimburse for any unused seller/agent contributions.