Mortgages: APR = Annual Percentage Rate. Mortgage loans are originated by Space Coast Credit Union, and are subject to credit approval, verification and collateral evaluation. Programs, offers, rates, terms, and conditions are subject to change or cancellation without notice. Certain restrictions apply. These mortgage loan programs constitute first mortgage liens secured by the home and property. The down payment is determined by the Loan to Value ratio. (90% LTV = 10% down payment) Loans exceeding 80% of the appraised value of the home require private mortgage insurance. Member responsible for any funds needed for closing costs and pre-paid escrow. Loan to value limits and private mortgage insurance requirements do not apply to HARP loans.
Mortgage Interest Rate Guarantee: If the comparable SCCU interest rate is
lower than your original interest rate five (5) business days before the closing and the interest
rate lock-in has not expired, SCCU will reduce the interest rate on your loan 5 business
days prior to closing. This is limited to a reduction of .25 percent. A one-time fee of $75
will be assessed at time of closing if this Price Guarantee is exercised and your rate
is reduced. Other conditions may apply, contact SCCU for details.
On Time Closing Guarantee: Space Coast Credit Union (SCCU) will close your loan within 45 days from the date our application is signed (or date specified in the purchase contract, whichever is greater), or the borrower will receive $1,000 in the form of a closing cost credit. Closing Guarantee applies to conventional purchase loans where the loan to value (LTV) is 90% or less. Closing Guarantee does not apply to jumbo loans, FHA loans, construction loans, short sale purchases, refinances, or commercial mortgages. Additional restrictions apply. Click here for full details.
Mortgage Down Payment: Conditions apply. Program applies to primary residence, single family detached homes in good condition and condos meeting program conditions
. 5% down payment must come from member's own funds. Contact SCCU for complete details.
The HomeAdvantage program, along with its features and benefits, is available to you through a joint relationship between your credit union and CU Realty Services. In order to earn a rebate, buyers and sellers must use ine if the real estate agents in the approved HomeAdvantage agent network. Rebate amounts will vary depending on the price of the house sold or purchased, and the commissions paid out to the agent. Rebates are available in most states. Please contact SCCU for more details.