From your first home to a jumbo loan, we have you covered
It’s probably the biggest purchase you’ll ever make, so you want to get home buying right. Service Credit Union can help you get a mortgage that’s suited for your unique needs. First-time homebuyer? We offer a program called Home Loan Payment Relief (HLPR) that features low down payments and below-market interest rates. Buying a fixer-upper? You can roll financing for the home and the renovation into one convenient loan. We’re also an approved lender for USDA and VA loans and can even get you into mortgages with no down payment.
Curious about homeownership? View this 6-minute lesson to determine your financial preparedness for homeownership.
Mortgage/Home Equity Rates
Rates effective as of: 9/25/2020 11:19:02 AM (ET).
|PRODUCT||RATE||POINTS||ANNUAL PERCENTAGE RATE|
|30 Year Fixed Rate Mortgage||3.250%||0||3.482%|
|15 Year Fixed Rate Mortgage||2.625%||0||3.040%|
|30 Year Fixed VA||3.250%||0||3.482%|
|7/1 Year Adjustable Rate Mortgage||2.875%||0.875||3.173%|
|30 Year Fixed Mortgage Construction Single Close||3.250%||0||3.449%|
|Home Equity Line of Credit||3.250%||0||3.250%|
Rates posted are indications only and are subject to change without notice. Your actual rate and/or points may be different, as many factors go into providing you with a mortgage loan. The quotes above are based on a specific loan amount for the purchase of a single family primary residence. Please click on the Product Name for a Payment Example.
First-Time Home Buyer
Buying your first home is a big step, but our loan experts have been there. They can help you determine how much house you can afford, and if you qualify for one of our zero-down loans with no private mortgage insurance. You might also be eligible for a Home Loan Payment Relief (HLPR) loan at below-market interest rates—including a $1,000 rebate on your closing costs—or a USDA rural development loan.
Jumbo mortgages are larger than the U.S. government will insure through Fannie Mae, so they typically carry higher interest rates. But we keep our jumbo rates competitive. The 2020 jumbo threshold is $510,400 in most locations, and we can help you find the right loan for you needs.
Veterans Affairs Home Loans are government-backed mortgages to help active or retired military members buy or refinance a primary residence. Their big advantage is low or no down payments. Another advantage of a VA Loan compared to a conventional loan is that there is no monthly mortgage insurance.
Home Construction Loans
We offer a single-close construction loan that allows you to purchase land and construct your home all with one loan. The construction loan offers an interest-only payment for a certain amount of time during the construction of the home.
Work with Your Own Personal Mortgage Specialist
Real Estate Lending Specialist
800.619.6575 ext. 2910
Epping Walmart Branch
All National Loans
Apply Now with Krysten Fowler
Real Estate Lending Specialist – National
800.619.6575 ext. 6587
Grand Forks Branch
Portsmouth Walmart Branch
All National Loans
Apply Now Michael Schulenberg
Frequently Asked Questions
We routinely process and close mortgage applications within 30 days. However, there are many variables that determine the length of the process, including how fast you respond to our requests for documentation.
It depends on many variables, including down payment amount, loan program and property type. We do not have a published minimum credit score, however if you are putting down less than 20%, and are not using the VA loan program, the minimum credit score is typically 620.
Yes, we are a national lender! We do mortgages in all states with the exception of Alaska, Texas and Hawaii. Not all programs are available in all states. Construction loans are available only in NH and MA.
While it is possible that your loan will be sold (the standard Fannie Mae promissory note gives the lender the right to sell the loan), it is important to understand that we will still be servicing your loan. We generally do not sell our loans (there are some exceptions), and even if we do, you will still be making your payments to Service Credit Union and we will still be handling your escrow account (if you have one).
Yes; if you have a direct deposit of your net pay into a Service Credit Union checking account, and set up an automatic payment of your new mortgage from your Service Credit Union checking account, you will be offered a discount of .125% off our posted mortgage rates. This can save you thousands in interest over the life of your loan.
In certain circumstances, a co-signer is permitted. However, we will require that the occupant borrower be qualified from a credit and ability to repay perspective. Generally, we require a co-borrower vs. a co-signer. A co-borrower has the same liability as the primary borrower.
We do not have a specific bridge loan program. However, we may be able to achieve a bridge loan through the use of a home equity line of credit on the house you will be selling. This will depend on the amount of equity you have and your ability to qualify to carry the debt for your existing mortgage (if any), the home equity line of credit, and the mortgage on your new home.
We do not offer loans for rental properties.
We do not offer loans for manufactured housing (mobile homes) regardless of whether or not they are permanently attached to a foundation.
Related Lending Blog Posts
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Hear From Our Happy Buyers
“I’m extremely impressed with how fast and smooth this home-buying process was with all parties involved, thank you.” – Kevin W., Sullivan, NH
“From start to finish, our refinancing mortgage was handled with courtesy and in a timely manner that was extended to us.” – Lawrence and Janet B., Wilton, NH
“I could not be happier with how Service CU handled my refi … I am truly happy I chose Service CU for all of my baking needs.” – Thomas R., Salem, NH
“Everyone did a great job. I would strongly recommend anyone to use Service CU. Thank you.” – Sergio Z, Peterborough, NH
“Excellent and professional service by all throughout the entire process. Well done.” Tim, Manchester, NH.”