Membership eligibility required. Loan subject to credit approval. No Closing Cost offer does not cover mortgage insurance, seller paid closing costs, discount points, or prepaids & reserves. The program is not valid for FHA or VA loans. If loan is closed or paid off within first 36 months of the term, member may be required to reimburse all or some of the closing costs incurred.
1 Does not include mortgage insurance, seller paid closing costs, origination fee, discount points or pre-paids. Reimbursement schedule applies for the first 36 months beginning with the first payment date: Months 1 – 12: $3,000 or amount of closing costs paid by SSFCU, whichever is less; Months 13 – 24: $2,000 or amount of closing costs paid by SSFCU, whichever is less; Months 24 – 36: $1,000 or amount of closing costs paid by SSFCU, whichever is less. The no closing program is not valid for FHA and VA loans.
2 Applies to fixed rate mortgages with terms of 10, 15, 20, or 30 years and Adjustable Rate Mortgages (ARM) with a term of 30 years. The interest rate can be locked for a period of 30 days. Interest rate will be guaranteed provided member provides the credit union with all documentation, information, and certifications requested. Members must satisfy all loan approval conditions in a timely manner in order to allow the credit union adequate time to process and fund the loan within the lock period.