​MORTGAGE LOAN RATES & TERMS APPLICABLE TO REFINANCE TRANSACTIONS ONLY

Eligible properties primary residence single-family homes, condominiums and manufactured homes. Mortgage Insurance is required on all FHA loans.

¹APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term.

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

Eligible properties are primary residence single-family homes, condominiums and manufactured homes. Maximum LTV is 97%; PMI is required for Loan-to-Value above 80%. Second home programs also available.

¹APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term.

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

Eligible properties are primary residence single-family homes and condominiums; manufactured homes do not qualify. Maximum LTV is 90%. PMI is required for Loan-to-Value above 80%.

1Los Angeles and Orange Counties = $1,089,300; Riverside & San Bernardino Counties = $726,200; San Diego County = $977,500; El Dorado, Placer and Sacramento Counties = $763,600; Ventura County = $948,750. Please contact a home loan consultant for other county loan limits.

²APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

Eligible properties are single-family homes and condominiums; manufactured homes do not qualify. PMI is required for down payments less than 20%. Condominium subject to additional rate adjustment.

¹APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

²Loan amounts greater than $2,000,000 subject to additional rate adjustment of 0.25%. Loan Amounts up to $1,500,000 available with a maximum LTV of 90%; Loan Amounts up to $2,500,000 available with a maximum LTV of 80%.

Eligible properties are single-family, multi-unit properties (2-4 units), and condominiums; manufactured homes do not qualify. Rental properties have a maximum LTV of 80%.

¹Los Angeles and Orange Counties = $1,089,300; Riverside and San Bernardino Counties = $726,200; San Diego County = $977,500; El Dorado, Placer and Sacramento Counties = $763,600; Ventura County = $948,750. Please contact a home loan consultant for other county loan or multi-unit property loan limits.

²APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

Eligible properties are primary residence single-family homes and condominiums; manufactured homes do not qualify. Maximum Loan-to-Value is 90% for loan amounts up to $1,500,000. Private Mortgage Insurance (PMI) is required for Loan-to-Value above 80%. Loan amounts greater than $2,000,000 subject to additional rate adjustment of 0.25%.

Variable rate, APR and payment subject to change after loan consummation. Rate is fixed for first five, seven or 10 years, depending on program, and adjusts periodically thereafter based on fully indexed rate.

¹APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

Eligible properties include primary residence single-family homes and condominiums; manufactured homes do not qualify. Maximum Loan-to-Value is 90%. Variable rate. APR and payment subject to increase after loan consummation. Rate is fixed for first five, seven or 10 years, depending on program, and adjusts periodically thereafter based on a fully indexed rate.

¹APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

Mortgage Loan Pricing Information

The credit union uses pricing evaluation to determine your mortgage loan interest rate and point combination. This evaluation assesses a group of pricing factors (listed below) specifically related to your mortgage loan. Following the initial evaluation of these pricing factors, you will be given an estimate of what your price will be.

Main Factors That Impact Your Mortgage Loan Price

Credit Score: Your credit score is a number based on information from your credit report including payment history, length of credit history, outstanding balances, and types of credit. Higher scores indicate a more sound credit profile based on maintaining timely payments, low balances, and only opening new credit accounts as needed. FICO is the most commonly used scoring system with a range from 300-850. 

Property: The value of the property, determined by an appraisal, compared to the amount you wish to borrow represents your loan-to-value or "LTV." Typically, lower Loan-to-Value will improve your loan pricing. The type of property you are refinancing is also important. For example, a multiple-unit property or condominium will have a different price point compared to a single family detached property.

Loan Type/Term: This refers to the type of loan product you select and its corresponding term. For example, a conforming fixed-rate purchase product will have different pricing than a cash-out refinance product based on the credit and property considerations described above.

Rate Lock/Price Confirmation

While you have the option to lock-in your loan interest rate before final approval, doing so does not guarantee your loan price. Any changes specific to your loan, based on the above pricing factors, will be evaluated and may affect your loan price. Your actual loan price will be redetermined at final loan document approval.

Important Mortgage Loan Information

• Real Estate Lending department: 800.462.8328, ext. 8288.
• Lending area: State of California.
• A Loan Estimate summarizing loan costs will be sent within 72 hours after the loan application is received.
• Loan settlement costs include (but may not be limited to): Origination charge, title insurance, and recording fees.
• Annual Percentage Rate (APR): Represents a loan's interest rate combined with associated fees charged by the lender, and may be variable.
• Adjustable-Rate Mortgage (ARM): Loan begins with a fixed rate for a set number of years; the interest rate and monthly payment adjust periodically during the remaining term. (Example: 5/1 ARM has a five-year fixed rate followed by one-year adjustments for the balance of the loan term.)
• CMT Index: Weekly average of the one-year or five-year Constant Maturity Treasury that determines ARM rate adjustments.
• Jumbo Loans: Mortgage loans greater than the conforming loan limit are known as Jumbo loans.
• Private Mortgage Insurance (PMI): A policy that protects the lender against losses that can occur due to non-payment by the borrower. Insurance is required if the loan amount is greater than 80% of a property's appraised value.
• Rate Lock Policy: Limits apply to the rate lock period and rate locks may not cover the entire period between credit approval and closing in all cases. The standard lock-in-period is 45 days on refinance transactions. See "Rate Lock Information" page or contact the Real Estate Lending department for details.