Compare SCCU's No Closing Cost Loans to other lenders

SCCU Mortgages Save You Money!

Big Bank’s No Closing Cost Mortgage

SCCU Easy Refi

SCCU Cost Cutter

Interest Rate

7.125%^*

6.875%^*

Origination Fee

Discount Points

Approximate Fees Paid

$3,300

$2,250^*^*

$1,217^*^*

Fees Not Paid

Taxes and Prepaid Items, such as recording, documentary stamp and intangible taxes, homeowners insurance and HOA fees

Any cost above $2,250 credit^*^*

All non-lender fees such as title insurance, taxes and prepaid items

Intangible Taxes Charged

$892.50

Purpose Allowed

Purchase

Refinance

Purchase, Refinance and Construction

Application Fee

SCCU Additional Savings

NONE

$3442.50^t

Example Monthly Payment

$1,718

$1,675

Total Savings:

$3,300

$5,692.50
PLUS $2,580 in monthly payments over the first five years!^***

$4,659.50
PLUS $2,580 in monthly payments over the first five years!^***

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^* Rates current as of 06/05/07. Payment example based on a $255,000 loan.

^*^* Easy Refi Program: Limited time offer. SCCU’s normal credit criteria apply. Not all applicants will qualify for a loan. Amount of closing cost credit based on loan amount. SCCU will credit $375 (up to a maximum of $5,000 in closing costs) for every $50,000 in loan amount at closing. Example: A loan amount of $225,000 will qualify for $1,875 in credit. Maximum loan to value: 95%. Loans exceeding 80% of the appraised value of the home require private mortgage insurance. Amount of waived closing costs, as detailed on the Settlement Statement at closing, must be paid back to SCCU if the loan is paid off within the first 36 months from the first payment due date. SCCU will determine the method used to evaluate property value. Maximum cash permitted to borrower at closing: $50,000. All normal rate adjustments apply. Owner occupied, primary residence only. New money only. This offer does not apply to existing first mortgage loans held at SCCU. Member Rewards fee waivers are not permitted in conjunction with this offer.
Cost Cutter Loan Program: For qualified members, Space Coast Credit Union (SCCU) will waive or pay for some of the services or products required by SCCU. This program is only offered to member’s purchasing their primary residence. SCCU will not include in this offer or pay for the following: 1) taxes, including but limited to property taxes, recording taxes, document stamp taxes, intangible taxes or other taxes or fees; 2) interest, including but limited to prepaid interest or discount points; 3) fees related to owning the home and not directly related to the granting of credit, including but not limited to property insurance (e.g. flood and/or hazard insurance, homeowner’s association fees or special assessment and other fees; 4) fees or costs for products or services voluntarily chosen by the member. Closing costs vary by loan program, loan amount and property location. SCCU will not pay any fees associated with loans after the loan is closed, traditional fees paid by the seller or fees paid for the purchaser by the seller or other third party. Additional restrictions may apply. Primary residence and purchase, refinance or construction loans only. No manufactured housing. Maximum loan amount $417,000. Offer is subject to change or cancellation without notice.

^*^*^* Calculated using interest rate as of 6/5/07 for first five years monthly payment savings.

^tOrigination Fee and Intangible Taxes charged by the Big Banks.

Don’t let the Big Bank fool you! Save more money up front and over time with SCCU!
Call today to get started:
800-447-7228, option 3