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Fixed Rate Home Equity Loan (Second Mortgage): Benefits
Fixed Rate Home Equity Loan is rated 4.6 out of 5 by 154.
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Rated 4 out of 5 by from Equity Loan We need a home equity loan to make an investment that would help secure our family’s financial future. Thanks to SCCU we were able to secure the loan that made the purchase of our first investment property possible. Now, we are looking forward being able to further our investments and really provide a better start for our boys.
Date published: 2017-11-30
Rated 5 out of 5 by from Equity fixed home loan Everyone at SC was so kind and helpful. It made the experience so easy. The people at the branch as well as Nichole who was our processor on the phone were wonderful!
Date published: 2017-11-15
Rated 1 out of 5 by from Customer Service Lacked Considerably The mortgage processor assigned to us consistently failed to send us correct documents. Forms needing our signature were inaccurate. An invoice for a fence not associated to us or our property was sent to us as a stated cause for a delay in processing. When we reached out to the processor's supervisor, the supervisor characterized the mistakes as a "miscommunication" between us and the processor. Feeling this explanation was not satisfactory, the department manager was requested. The same explanation was communicated, and the financial merits of ours was of little concern during the entire process. The underwriting process is not thoroughly explained at the beginning. The lender contact assured us the process would take a few weeks. The mortgage was processed in approximately 2 months. After working with the lender contact, each employee contacted expressed little desire to provide exceptional customer service. We are paying this institution over $40,000 in interest over the next 15 years. Since we have had such terrible customer service in the two experiences with SCCU, it will take an act of God for us to use your services again. Being a 20 year resident of Brevard County, I hoped to support a local institution for all of our financial needs. It will no longer be SCCU, and I will be letting everyone I know how difficult it was.
Date published: 2017-10-16
Rated 5 out of 5 by from Great customer service. Every step of the way I was kept informed and the process was smooth and easy.
Date published: 2017-10-16
Rated 5 out of 5 by from 2nd MORTGAGE This is my second mortgage and I'm glad to have business with SCCU , thanks Christine to guide me through the process.
Date published: 2017-09-29
Rated 5 out of 5 by from SCCU helped us when other lenders would not We wanted to take out a loan and we did not want to refi our entire mortgage which will be paid off in 6 years. This loan will be paid off 4 years after that. All other banks and mortgage lenders would not do this for us. They wanted to add the loan to our existing mortgage and then we'd be looking at another 15 or more years. Now everything will be paid off in 10. We are very happy!
Date published: 2017-08-24
Rated 5 out of 5 by from New loan It was a pleasure working with Christine. She made my loan application process simple and easy. Thanks!
Date published: 2017-07-13
Rated 5 out of 5 by from Excellent service. The process was easy and the mortgage processor was fantastic. Keep me up to date.
Date published: 2017-05-03
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  • 4.64/5
Read all 154 reviews


A fixed rate home equity loan, also known as a second mortgage, is a good choice when you need an amount of money in a lump sum for a one-time event such as consolidating your credit card debt, replacing the roof, or paying for a wedding.
 

  • Reliable - Principal and interest payments remain the same, so there is no risk that changing market conditions will increase the monthly payment.
  • Flexible - Make additional principal payments as desired with no prepayment penalties. The minimum loan amount is $5,000, with terms up to 20 years. Home equity loan refinancing is also available.
  • Affordable – Low credit rates with no intangible tax, no points or origination fees, and no hidden fees.

APPLY NOW

Call Express Sales or apply online today

Brevard: 321-752-2222 option 3
Broward: 954-704-5000 option 3
Miami-Dade: 305-882-5000 option 3
All Other Areas: 800-447-7228 option 3
 

All SCCU Home Equity Loans Feature



Important disclosures, payments, assumptions, and APR information

Adjustable Rate Loan Example: For example, on a 5/1 1-Year Constant Maturity Treasury Index (1-Year CMT) Adjustable Rate Mortgage (ARM), the interest rate and payment are fixed for the first five years of the loan. The interest rate and payment may adjust every twelve months thereafter and may not increase or decrease more than 2.0% at each twelve-month adjustment. The interest rate cannot increase more than 5% over the term of the loan. For a 5/1 1-Year CMT ARM for $200,000 with a 30-year term and an initial interest rate of 5.698% APR, repayment will consist of 60 monthly payments of $1,119.95. If the interest rate were to increase by the maximum five percentage points to 10.698% APR, then the monthly payment would increase from $1,119.95 to a maximum of $1,726.62 in the fifth year. Other rates and terms are available. The terms used in this example are for illustrative purposes only and the actual terms you receive may be different depending on your individual circumstances.
3HOME EQUITY LOANS: Your interest rate will be based on the available equity in your home, the amount of your loan, your credit history, property type, and product chosen. Other programs, rates, and terms may be available. Approval subject to our usual credit criteria and clear title. Certain restrictions may apply.

All decisions to grant credit will be based on an evaluation of your credit history and available equity in your home. Your interest rate will be based on the available equity in your home, the amount and term of your loan, and credit score.

For adjustable rate equity lines the Annual Percentage Rate (APR) varies monthly and is based on the value of an index plus a margin. The index is equal to the highest prime rate published in the Wall Street Journal “Money Rates” table on the last business day of each month of each year. Rates are subject to increase after consummation.

No application fee. Rates subject to change without notice. Proof of home owner's insurance sufficient to cover all outstanding mortgages, including your SCCU equity loan will be required. Some restrictions may apply.

Rates subject to change without notice.

Proof of home owner's insurance sufficient to cover all outstanding mortgages, including your SCCU equity loan will be required. Some restrictions may apply.
 
  • SCCU Routing Number: 263177903
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Space Coast Credit Union membership is open to all who work or live in Brevard, Broward, Flagler, Indian River, Martin, Miami-Dade, Monroe, Orange, Osceola, Palm Beach, Seminole, St. Johns, St. Lucie, or Volusia Counties in Florida.

  • Brevard: 321-752-2222
  • Broward: 954-704-5000
  • Miami-Dade: 305-882-5000
  • All Other Areas: 800-447-7228

*APR = Annual Percentage Rate. ^APY = Annual Percentage Yield.

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