Dreaming of a new home or looking to refinance your current home?
SCU Credit Union offers members The Rate Improver Mortgage – TRIM™
With rates moving lower SCU Credit Union is offering members who are interested in a mortgage that provides the surety of a traditional 30-year fixed-rate mortgage with one tremendous advantage. TRIM™ allows members to float down their rate once within the first five years of the mortgage without paying any costs, starting 6 months after satisfactory mortgage payments. Other restrictions apply.
The TRIM™ mortgage is available for single family owner- occupied dwellings or owner-occupied warrantable* condominiums.
- The maximum loan amount is $800,000 and your mortgage can go up to 95% Loan to Value ( LTV) of the property.
- Mortgage insurance is required over 80% LTV.
- Minimum FICO score 620.
- $750 Processing Fee.
Please contact Ingrid Williams at 508-408-6341 for additional details.
The Rate Improver Mortgage – TRIM™ | ||||
Term | Rate | Points | APR* | Payment per $1,000 |
30 Years | 7.125% | 0 | 7.223% | $6.74 |
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You can follow mortage rates by visiting the Primary Mortgage Market Survey (PMMS) by Freddie Mac and checking the “30-yr FRM” rates, so that you can determine the optimal moment to float down your rate. Once you decide to float down, contact us. Your new lower rate will be locked at no additional cost!