Skip to main content

Mortgage Rates

Children helping unload boxes from a van on family moving day
How Are We Different?

When it comes to choosing a mortgage partner, you deserve nothing but the best. At SCU Credit Union, we pride ourselves on being more than just a lender.

  • Competitive Rates: Affordable options to help you save.
  • Local Lenders: We understand your market and your needs.
  • We Service Our Loans: Enjoy a seamless experience from start to finish.

Our local knowledge translates into personalized service, making your home buying process smooth and enjoyable.

Fixed Rate Mortgages

Our fixed rate mortgage is used for the purchase of a home or for the refinance of an existing mortgage. SCU Credit Union offers mortgages on 1-4 family, owner-occupied properties, condominiums, and vacation homes located within Massachusetts or Rhode Island. This type of mortgage maintains the initial interest rate for the life of the loan.

Table data for Fixed Rate Mortgage Rates
 Effective Date: May 1, 2025
Product Example Loan Amount Max Loan Amount Rate Discount Points APR1 Est. Payment # of Payments Alert Me
30 Year Fixed $100,000 $806,500 6.750% 0 6.811% $6.49 360 Receive a notification when this rate changes
30 Years Fixed $100,000 $806,500 6.500% 1 6.657% $6.32 360 Receive a notification when this rate changes
20 Years Fixed $100,000 $806,500 6.500% 0 6.578% $7.46 240 Receive a notification when this rate changes
20 Years Fixed $100,000 $806,500 6.250% 1 6.454% $7.31 240 Receive a notification when this rate changes
15 Years Fixed $100,000 $806,500 6.375% 0 6.472% $8.64 180 Receive a notification when this rate changes
15 Years Fixed $100,000 $806,500 6.125% 1 6.379% $8.51 180 Receive a notification when this rate changes
  • 1APR = Annual Percentage Rate. Fixed Rate Mortgages and their APRs are based on a $100,000 loan with a 20% down payment for the applicable term. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater. Fixed rate mortgage products are eligible for our First Time Home Buyer credit. Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply. For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300

Fixed rate mortgage products are eligible for our First Time Home Buyer credit. For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300

Conventional Loan Amounts - Applications Received On or After January 1, 2025.

Number of Units

1

2

3

4

Maximum Original Loan Amount

$806,500

$1,032,650

$1,248,150

$1,551,250

Fixed Rate Jumbo First Mortgage

Our fixed rate jumbo mortgage is used for the purchase of a home or for the refinance of an existing jumbo mortgage. SCU Credit Union offers mortgages on 1-4 family, owner-occupied properties, condominiums, and vacation homes located within Massachusetts or Rhode Island. This type of mortgage maintains the initial interest rate for the life of the loan.

Table data for Fixed Rates Jumbo Mortgages - 2025
 Effective Date: May 1, 2025
Product Example Loan Amount Max Loan Amount Rate Discount Points APR1 Est. Payment # of Payments Alert Me
30 Year Fixed $100,000 $xxx,xxx 6.750% 0 6.782% $6.49 360 Receive a notification when this rate changes
30 Years Fixed $100,000 $806,500 6.500% 1 6.628% $6.32 360 Receive a notification when this rate changes
20 Years Fixed $100,000 $806,500 6.500% 0 6.540% $7.31 240 Receive a notification when this rate changes
20 Years Fixed $100,000 $806,500 6.250% 1 6.415% $7.46 240 Receive a notification when this rate changes
15 Years Fixed $100,000 $806,500 6.375% 0 6.424% $8.64 180 Receive a notification when this rate changes
15 Years Fixed $100,000 $806,500 6.125% 1 6.330% $8.51 180 Receive a notification when this rate changes
  • 1APR= Annual Percentage Rate. Jumbo Fixed Rate Mortgages and their APRs are based on a $807,000 loan with a 20% down payment for the applicable term. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater. Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only in Massachusetts and Rhode Island. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply.

    For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300

The Rate Improver Mortgage 

The TRIM™ mortgage is available for single family owner- occupied dwellings or owner-occupied warrantable condominiums.

Table data for The Rate Improver Mortgage – TRIMTM Rates
 Effective Date: May 1, 2025
Product Example Loan Amount Max Loan Amount Rate Discount Points APR1 Est. Payment # of Payments Alert Me
30 Year Fixed $100,000 $800,000 7.000% 0 7.043% $6.65 360 Receive a notification when this rate changes
  • 1APR = Annual Percentage Rate. Fixed Rate Mortgages and their APRs are based on a $100,000 loan with a 20% down payment for the applicable term. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater. Fixed rate mortgage products are eligible for our First Time Home Buyer credit. Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply. For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300

Refinance Your Mortgage - On The House

Are you looking for a short-term first lien refinance mortgage where you choose the term with an option to take additional funds, and there are no origination fees or points and the servicing is retained at SCU Credit Union? If so, our “On the House” Refinance Mortgage Products may be a solution. 

Table data for Refinance Your Mortgage - On The House Rates
 Effective Date: January 9, 2025
Type Max Term Rate APR1 Monthly Payment per $1,000 Alert Me
Fixed 5 Years 5.250% 5.250% $18.99 Receive a notification when this rate changes
Fixed 10 Years 5.500% 5.500% $10.85 Receive a notification when this rate changes
Fixed 12 Years 6.250% 6.250% $9.89 Receive a notification when this rate changes
Fixed Jumbo 5 Years 5.750% 5.750% $19.22 Receive a notification when this rate changes
Fixed Jumbo 10 Years 6.000% 6.000% $11.10 Receive a notification when this rate changes
Fixed Jumbo 12 Years 6.750% 6.750% $10.15 Receive a notification when this rate changes
5/5 ARM 10 Years 5.125% 5.630% $10.67 Receive a notification when this rate changes
5/5 ARM 12 Years 6.125% 6.478% $9.82 Receive a notification when this rate changes
5/5 ARM Jumbo 10 Years 5.125% 5.630% $10.67 Receive a notification when this rate changes
5/5 ARM Jumbo 12 Years 6.125% 6.478% $9.82 Receive a notification when this rate changes
  • 1APR = Annual Percentage Rate. Rates Subject to change at any time.

“On the House” Refinance Mortgage is a home equity loan secured as a first lien. *APR= Annual Percentage Rate. Your Annual Percentage Rate (APR), Term and Approved Loan Amount may vary based on your credit worthiness. Advertised APR is the lowest rate available. Not available for purchase money. Refinance only. No points, closing costs or attorney’s fees. Applicable Trust and Power of Attorney review and recording fees apply and are paid by the borrower. Other restrictions may apply. Fixed rate – terms 60 to 144 months and ARM – terms from 84 to 144 months. Payment does not include amounts for taxes and insurance premiums and, if required, the actual payment obligation will be greater.

For Fixed: Owner-occupied, 1-4 family residences and single unit condominiums only. Minimum loan amount of $25,000. Maximum loan amount of $500,000. Maximum combined loan-to-value of 80% based on assessed value (80% on appraised value). Property valuations or appraisal may be required. Appraisal required on loan amounts of $400,000 or greater. If required, applicable fees to be paid by the applicant. Existing Sharon & Crescent United Credit Union On The House Mortgage products are eligible for this promotion. 

For Jumbo Fixed and ARM: Owner-occupied, single family and single unit condominiums only. Minimum loan amount of $500,001 and maximum loan amount of $1,000,000. Maximum combined loan-to-value of 80% based on appraised value. Appraisal is required; applicable fees to be paid by the applicant. Existing Sharon & Crescent United Credit Union On The House Mortgage products are eligible for this promotion.

For 5/5 ARM: Owner-occupied, 1-4 family residences and single unit condominiums only. Adjustable Rate Mortgage (ARM) and their APRs are subject to increase after consummation. The APR is effective 12/26/2024 and is based on a $100,000 loan. Maximum adjustment cap per 5-year period is 2%; Lifetime adjustment cap is 4%. Based upon a 10 year term, initial 60 payments of $1,129.13 at a rate of 6.375% then, based on the current index, 59 payments of $1,149.54 at a rate of 7.125%, and 1 payment of $1,149.35 at a rate of 7.125%. Based upon a 12 year term, initial 60 payments of $1,001.92 at a rate of 6.500% then, based on the current index, 83 payments of $1,022.46 at a rate of 7.125%, and 1 payment of $1,022.70 at a rate of 7.125%. Maximum combined loan-to-value of 80% based on assessed value (80% on appraised value). Property valuations or appraisal may be required. Appraisal required on loan amounts of $400,000 or greater. If required, applicable fees to be paid by the applicant. Existing Sharon & Crescent United Credit Union On The House Mortgage products are eligible for this promotion. The Index for the 5/5 ARM is the average weekly yield for a 5-Year Constant Maturity Treasuries with a Margin of 2.75%.

For 5/5 Jumbo ARM: Owner occupied, 1 family residences and single unit condominiums only. Adjustable Rate Mortgage (ARM) and their APRs are subject to increase after consummation. The APR is effective 12/26/2024 and is based on a $750,000 loan. Maximum adjustment cap per 5-year period is 2%; Lifetime adjustment cap is 4%. The Index for the 5/5 ARM is the average weekly yield for a 5-Year Constant Maturity Treasuries with a Margin of 2.75%.

Based upon a 10 year loan, initial 60 payments of $8,468.48 at a rate of 6.375%, then based on the current index, 59 payments of $8,621.53 at a rate of 7.125%, and 1 payment of $8,621.16 at a rate of 7.125%. 

Based upon a 12 year loan, initial 60 payments of $7,514.41 at a rate of 6.500%, then based on the current index, 83 payments of $7,668.46 at a rate of 7.125%, and 1 payment of $7,668.07 at a rate of 7.125%. 

For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300

Adjustable Rate Mortgages (ARM)

Our adjustable rate first mortgages are used for the purchase or refinance of owner-occupied properties, condominiums and vacation homes located within Massachusetts or Rhode Island. Adjustable Rate Mortgages (ARMs) assist you in customizing a mortgage to satisfy your personal circumstances.

Table data for Adjustable Rate Mortgage (ARM) Rates
 Effective Date: May 1, 2025
Term Rate Points APR1 Monthly Payment per $1000 Alert Me
3/1 Years (30 Years)2 5.750% 0 6.544% $5.84 Receive a notification when this rate changes
5/1 Years (30 Years)3 5.500% 0 6.303% $5.68 Receive a notification when this rate changes
7/1 Years (30 Years)4 6.000% 0 6.412% $6.00 Receive a notification when this rate changes
10/1 Years (30 Years)5 6.250% 0 6.477% $6.16 Receive a notification when this rate changes
15/1 Years (30 Years)6 6.625% 0 6.706% $6.40 Receive a notification when this rate changes
5/5 Years (30 Years)7 6.125% 0 6.551% $6.08 Receive a notification when this rate changes
  • 1APR = Annual Percentage Rate. Rates Subject to change at any time.
  • 2Initial 36 payments of $583.57 at a rate of 5.750%. Then, based on the current index, 323 payments of $644.12 at a rate of 6.750% and 1 payment of $646.01 at a rate of 6.750%.
  • 3Initial 60 payments of $567.79 at a rate of 5.500%. Then, based on the current index, 299 payments of $638.82 at a rate of 6.750% and 1 payment of $638.92 at a rate of 6.750%.
  • 4Initial 84 payments of $599.55 at a rate of 6.000%. Then, based on the current index, 275 payments of $640.40 at a rate of 6.750%, and 1 payment of $637.94 at a rate of 6.750%.
  • 5Initial 120 payments of $615.72 at a rate of 6.250%. Then, based on the current index, 239 payments of $640.51 at a rate of 6.750%, and 1 payment of $640.23 at a rate of 6.750%.
  • 6Initial 180 payments of $640.31 at a rate of 6.625%. Then, based on the current index, 179 payments of $645.36 at a rate of 6.750%, and 1 payment of $644.16 at a rate of 6.750%.
  • 7Initial 60 payments of $607.61 at a rate of 6.125%. Then, based on the current index, 299 payments of $643.91 at a rate of 6.750%, and 1 payment of $642.79 at a rate of 6.750%.

Conventional Loan Amounts - Applications Received On or After January 1, 2025.

Number of Units

1

2

3

4

Maximum Original Loan Amount

$806,500

$1,032,650

$1,248,150

$1,551,250

Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply.

*APR= Annual Percentage Rate. Adjustable Rate Mortgage (ARM) and their APRs are subject to increase after consummation.

The APR is effective 12/26/2024 and is based on a $100,000 loan with 20% down payment and no points on a 30-year term. Interest rate and monthly payments are fixed for the initial term and then adjust thereafter by a margin over the index. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater. The Index for the 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1 ARM is the average weekly yield for 1-Year Constant Maturity Treasuries with a Margin of 2.75%, a 2% adjustment cap and a 6% lifetime cap. The Index for the 5/5 ARM is the average weekly yield for a 5-Year Constant Maturity Treasuries with a Margin of 2.75%, a 2% adjustment cap and a 5% lifetime cap.

For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300

Jumbo Loans - Adjustable Rate First Mortgages (ARM)

Our adjustable rate first mortgages are used for the purchase or refinance of owner-occupied properties, condominiums and vacation homes located within Massachusetts or Rhode Island. Adjustable Rate Mortgages (ARMs) assist you in customizing a mortgage to satisfy your personal circumstances.

Table data for Fixed Rate JUMBO First Mortgage Rates
 Effective Date: May 1, 2025
Term Rate Points APR1 Monthly Payment per $1,000 Alert Me
30 Years 6.750% 0 6.782% $6.49 Receive a notification when this rate changes
30 Years 6.500% 1 6.628% $6.32 Receive a notification when this rate changes
20 Years 6.500% 0 6.540% $7.46 Receive a notification when this rate changes
20 Years 6.250% 1 6.415% $7.31 Receive a notification when this rate changes
15 Years 6.375% 0 6.424% $8.64 Receive a notification when this rate changes
15 Years 6.125% 1 6.330% $8.51 Receive a notification when this rate changes
  • 1APR= Annual Percentage Rate. Jumbo Fixed Rate Mortgages and their APRs are based on a $807,000 loan with a 20% down payment for the applicable term. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater.

Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply.

For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300

*APR= Annual Percentage Rate. Jumbo Adjustable Rate Mortgages and their APRs are subject to increase after consummation. The APR is effective 1/1/2025 and is based on a $807,000 loan with 20% down payment and no points on a 30-year term. Interest rate and monthly payments are fixed for the initial term and then adjust thereafter by a margin of 2.75%, a 2% adjustment cap and a 6% lifetime cap. The index for the 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and 15/1 ARM is the average weekly yield for a 1-Year Constant Maturity Treasuries. The index for the 5/5 ARM is the average weekly yield for a 5-Year Constant Maturity Treasuries with a margin of 2.75%, a 2% adjustment cap and a 5% lifetime cap.