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Your Benefits With Service Credit Union

  • Competitive Interest Rates
  • Access to Mortgage Assistance Programs
  • Superior 24/7 Member Service
  • Low Closing Costs
  • Appraisal Rebate** of up to $695 for purchase loans
“Our loan officers were simply awesome throughout the whole process. I could not have asked for better people to work with. Thank you!!”

Mortgage Rates***

The Mortgage Lending Journey

Applying for a mortgage loan is a complex process. Service Credit Union’s skilled loan officers are here to help you navigate every step of your mortgage lending journey.
Here is a brief overview of what to expect:

Mortgage Pre-Approval

Begin working with a lender to get pre-qualified for a mortgage loan. Find your mortgage range and get a better understanding of your loan terms in advance.

Complete All Pre-Approval Documents Early

Save time and reduce stress when making an offer with proactive preparation.

Property/Home Shopping

Once you’re pre-approved, you know exactly how much property/home you can afford. This makes working with a real estate agent easier and will help you narrow down your options faster.

Make Your Offer

When you find the property you want you can make a serious offer with confidence. This lets you move fast with ease, and you’ll have an advantage over non-pre-approved buyers.

Contract And Contingencies Agreement

Your real estate agent will assist in making a formal offer, including contingencies such as:
– Appraisal
– Home/Property inspection
– Final loan approval
– Purchase agreement

Mortgage Loan Application

Applying for the official mortgage on a property requires some additional documentation. This doesn’t take long, especially with a mortgage pre-approval.

Mortgage Loan Processing
Inspection And Appraisal

With all documentation in place, loan processors open a file to put together a package for the underwriter.


The underwriter makes key decisions regarding your mortgage loan package. After cross-checking and verifying all information for accuracy, the underwriter makes the final decision on your loan.


Loan documents are drawn up and sent to the title company or attorney’s office. You’ll have a three-day review period, a final walk-through, and a closing meeting.


You’re now the proud owner of your new home or property.

Types of Mortgages

Home Advantage


HomeAdvantage® can help you search, buy, sell and save on your next real estate venture! Use it to find the home of your dreams, sell your existing home, research the market, connect with a top local agent, and save money at closing! All this is available to you, at no cost!

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First-Time Home Buyer

Buying your first home with confidence! Our experienced loan experts will help you determine how much house you can afford and check if you qualify for one of our zero-down loans with no private mortgage insurance (PMI). Learn more about First-Time Home Buyer Loans.

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Jumbo Mortgages

Jumbo mortgages are large loans used to buy properties that are more expensive than the typical conventional mortgage loan. Jumbo loans normally carry higher interest rates but we keep our jumbo rates competitive. 
Learn more about Jumbo Mortgages.

*The 2023 jumbo loan threshold is $726,200 (in most locations).

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VA Loans

VA Home Loans are government-backed mortgages to help active or retired military members buy or refinance a primary residence. VA Loans feature low or even no down payments and don’t require monthly mortgage insurance.
Learn more about VA Loans.

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Real Estate Rehab Loans

Planning to buy a house that needs immediate renovation? This unique program gives you cash for both the purchase and the renovation in one simple fixed-rate mortgage.
Learn more about Real Estate Rehab Loans

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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.
Learn more about Home Construction Loans.


Mortgage Assistance

We are proud to offer a variety of mortgage assistance options to eligible applicants, from down payment and closing cost assistance of up to $10,0001 to below-market rates for portfolio accessory dwelling units (ADUs). 

“Our loan officers were very helpful during the entire loan process. They both were extremely knowledgeable and returned ALL emails/phone calls in a timely manner. They are both truly professional at what they do. I also consider their customer service skills amongst the best!!!”
Anthony B.

Calculate Your Estimated Upfront Costs

Total Home Cost

Click on each price tab below to find out what you should aim to save, including a 10% down payment:





How much you pay, out of pocket, is determined by your down payment.


How long does the process take?

We routinely process and close mortgage applications within 30 days.  For home equity loans and home equity lines of credit, our goal is to close your loan within 10 days.  However, there are many variables that determine the length of the process, including how fast you respond to our requests for documentation.

For first mortgages, we generally require a score of 620 or higher, although there are some programs, such as VA, that will allow for a lower score.  For equity loans and home equity lines of credit, we require a score of 680 or higher.

Yes, we are a national lender!  We do mortgages in all states with the exception of Alaska and Hawaii.  Not all programs are available in all states. Construction and land loans are available only in NH, MA and ME.

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, with the exception of state housing agency loans. Even if you loan is sold, you will still make your payments to Service Credit Union, with the exception of state housing agency loans which are serviced by the housing agency.

Generally, we require a co-borrower vs. a co-signer, although some programs, such as state housing agency loans, do allow a co-signor. 

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 currently offer loans on mobile homes.

Yes, up to 4 residential units.  Not all programs/products are eligible. Title must not be in name of a corporation or LLC. 

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*Rates shown are Annual Percentage Rate (APR). HELOC rate of 6.49% APR is fixed for the first 12 months. The rate will vary based on the Wall Street Journal Prime “Prime” rate published on the last business day of the month, 8.5% APR as of 7/27/23. APR may increase after the loan is closed; maximum APR is 17.125%. Minimum line of credit is $25,000. Property insurance is required. During the 10-year draw period a Home Equity Line of Credit with a balance of $25,000 and APR of 6.49% for the first 12 billing cycles will result in 12 interest only payments of $135.21. A balance of $25,000 and variable APR of 8.5% will result in 108 interest only payments of $177.08, followed by 179 payments of $246.87 and one (1) final payment of $245.88 during the repayment period. Payment example does not include taxes and insurance; actual payment obligation will be greater. During draw period minimum payment required is interest only. Closing costs will apply to home equity lines of credit secured by properties that are listed for sale. Properties currently on the market will be subject to credit report, title, recording, settlement, and appraisal fees (approximately $900). Certain costs associated with the transaction will be the members responsibility regardless of property listing status, including but not limited to per diem interest, taxes of any kind, and insurance premiums. Existing Service Credit Union HELOC’s are not eligible. An early termination fee of $400 applies if paid off and closed within 36 months of opened. The fee will be waived if refinanced with Service Federal Credit Union if the borrower paid closing costs for the home equity line of credit. Other exclusions may apply, please ask your loan originator for details. Subject to credit worthiness and dwelling requirements. Must be an existing member or eligible for membership.

**Appraisal rebate of up to $695 will be applied for purchase loans only. A purchase loan is the financing connected to the purchase of a property involving the transfer of title from seller(s) to buyer(s). Applicant(s) will be required to pay estimated cost of the appraisal up front. Rebate will be applied as a credit at closing towards the total amount paid for the appraisal associated. Credit will not exceed amount paid and cannot be transferred or exchanged for cash equivalent. Subject to change or be discontinued at any time.

***The displayed rates for conventional loans assume a loan amount of $250,000 for a single-family, owner-occupied purchase transaction with a down payment of 40% and a credit score of 740 or higher.  VA rates assume a loan amount of $250,000 and no down payment.  Conventional jumbo loans assume a loan amount of $726,200 and a 40% down payment. VA jumbo assumes a loan amount of $726,200 with no down payment.  Payment examples can be obtained by clicking the calculate payments button above and do not include taxes or insurance premiums.  Payment obligation will be higher.

1We are proud to offer a variety of mortgage assistance options to eligible applicants, from down payment and closing cost assistance of up to $10,0001 to below-market rates for portfolio accessory dwelling units (ADUs).