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:
2.125%Rate    3.262%APR²  

Payment example for a $548,250 30 year term with an initial 3.262% APR and with maximum periodic rate increases: $2060.88 per month at an interest rate of 2.125% for the first 5 years; $2563.19 per month at an interest rate of 4.125% for years 6-10; $3027.94 per month at an interest rate of 6.125% for years 11-15; $3224.45 per month at an interest rate of 7.125% 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
Pay no closing costs
SDCCU pays your mortgage insurance  
Just 10% down payment, up to $1,250,000 at 90% loan-to-value3  

Up to $3,000,000 at 80% loan-to-value

FREE 90-day rate lock

Rate can only change once every 5 years

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

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. Refinance 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. ²Rates and APRs are accurate as of 7/8/2021. ³Down payment must be from own funds, gift funds not allowed.