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Fixed Rate Home Equity Loan (Second Mortgage): Benefits
Fixed Rate Home Equity Loan is rated 4.65 out of 5 by 140.
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Rated 5 out of 5 by from Loan Process We went with Space Coast Credit Union to obtain a home improvement loan. The staff was very helpful and worked diligently to ensure our closing was scheduled as soon as possible. All of our questions were answered on a timely manner either by phone or email. We were very happy with the service we received and are now looking forward to our home improvement project.
Date published: 2016-06-29
Rated 5 out of 5 by from Team SCCU, You Are Amazing!! The incredibly swift and easy loan process began with a conversation with a great professional at my local branch. She placed a call to Space Coast headquarters and where the super customer service continued. From application to closing, I felt like family!! Thank you Team SCCU!
Date published: 2015-10-17
Rated 5 out of 5 by from Professional and courteous service. Inquiries were handled quickly and precisely. Nothing was "mysterious" because everything was explained clearly. We were able to handle all of the paperwork through our computer and were never inconvenienced. Closing took very little time. The whole process could not have been easier or more pleasant. SCCU has always been there to help and continues to provide outstanding service.
Date published: 2015-09-22
Rated 4 out of 5 by from Friendly Service The processing of my request went quickly in the beginning. I received 3 different requests for more documents. I felt like they should have requested them all at the same time. Once I was pre approved the paperwork took a long time before I was finally told we were approved (2 or 3 weeks). I had to keep checking and was not ever updated on the status by the bank. One Saturday we even went to the New Smyrna Beach bank to see if we could find out what the status of the loan was. I think it was that visit that finally got things moving. My wife called later that week and they said they had our paperwork in a pile and had not gotten to it yet. When we went into the Daytona Branch we found out we had to open an account (took extra long on our lunch hour). No one mentioned that to us prior to our arrival. That process took over an hour when we were told it wouldn't take very long. We are not upset or anything but the process could be improved.
Date published: 2015-09-16
Rated 5 out of 5 by from Received great, fast and very friendly service. Got and excellent product and I am very satisfied with the product and the service.
Date published: 2015-08-04
Rated 3 out of 5 by from Great Rate but slow Express sales was very responsive and quick but when my loan went to processing things slowed to a crawl. I had to call for any updates and had to resend my documentation multiple times. We finally closed in about 45 days. Closing at the local branch was easy and went smoothly. I did feel the rate was very competitive!
Date published: 2015-07-30
Rated 5 out of 5 by from Friendly service We went with SCCU because rates were very competitive and the friendliness of the staff is incomparable.
Date published: 2015-05-14
Rated 5 out of 5 by from Feel like a member! Thank you Laurie for your assistance and patience from application to closing. Being a long time SCCU member pays dividends, literally and figuratively!
Date published: 2015-04-16
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  • 4.65/5
Read all 140 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.
Important disclosures, payments, assumptions, and APR information

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


APPLY NOW

All SCCU Home Equity Loans Feature



 
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, and product chosen. Other programs, rates, and terms may be available. Approval subject to our usual credit criteria and clear title.

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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