Mortgage Center
Learn MoreWhether you are buying or refinancing, we've got the right loan for you!
Now you can find the perfect home loan solution without leaving your credit union.
SCCU Home Loan Program
May 1, 2017
- Conventional 1st Mortgage Loans with terms of 5, 10, 15, 20 and 30 years.
- Refinance up to 90% of appraised value.
- We lend in Spokane County.
- We loan on homes, condos, townhouses and mfg. homes affixed to real estate.
- Loans from $25,000 to $300,000.
Competitive rates and fees
- We only lend locally, we know the market.
- Local decisions.
- Experienced lenders.
- No 1-800 servicing number. You call SCCU or stop by our office.
- Have trusted partners to refer you to in the event we cannot assist you.
Equity Loans/2nd Mortgages
- Terms of 5, 10, 15, and 20 years.
- Lend up to 90% of appraised value on second mortgage.
- Loans from $10,000 to $300,000.
For more information, call us at (509) 325-4444 or stop by our office at 1930 N. Monroe between 9 and 5 during the week, and speak with one of our friendly home loan advisors, or click the button below to learn more and start the application process.
Home Equity Lines of Credit
If you are thinking about sprucing up your house or debt consolidation, consider a home 5/1 Home Equity Line of Credit. A home equity line of credit, like a credit card, gives you a predetermined borrowing limit and allows you to access money when you need it. Spokane City Credit Union offers 80% loan-to-value home equity line of credit. Because of the draw option, credit lines are good for recurring expenses such as college tuition and home improvements.
| Current APR* (Annual Percentage Rate) |
as low as 3.99% APR* |
| Interest Type | Fixed first 5 years/Variable * annually thereafter with 2% periodic cap |
| Maximum Loan to Value Ratio | 80% |
| Minimum Loan/Line | $10,000 |
| Maximum Loan Amount | $200,000 |
| Maximum Loan Term | Up to 15 years, depending upon loan amount |
| Prepayment Penalty | None |
| Eligible Properties | Owner occupied single family residence in Washington state |
| Closing Costs | Paid by SCCU*** |
SCCU Members have used their 5/1 Home Equity Line of Credit to:
- Consolidate High Interest Debt
- Remodel or repair their home
- Send their kids to college
- Take family vacation
- Plan a wedding
- Furnish a Nursery
- Or whatever you need extra cash for
Find out what your home can do for you!
E-Mail a Loan Officer: loandepartment@sccu.net
Get an estimate on your payments with our Loan Calculator.
*APR= Annual percentage rate. Based on approved credit. Restrictions may apply. Other rates, terms and conditions may apply. Rates may be different as determined by credit history of each applicant.
**A fixed annual percentage rate will be used for the first 5 years of the plan. We will determine the periodic rate and the corresponding annual percentage rate during the variable rate period as follows: we start with an independent (the "index") which is the monthly average of the Six Month Treasury Bill Rate (Auction High). We will use January Index values to determine your annual percentage rate. The annual percentage rate will change to a variable rate at the beginning of the 6th year of the plan. Thereafter, the annual percentage rate can change annually on the first day of the month following the anniversary month of the plan. The annual percentage rate will not increase or decrease more than 2 percentage points in any one year period. However, under no circumstances will the annual percentage rate go below 3.99% at any time during the term of the plan.
***All fees will be waived providing the loan remains in effect for 2 years.
Other Loans
Share-Secured Loans
Share secured loans all you to borrow against your share account and take up 10 years to repay the loan. For more information, terms and conditions, please contact our Loan Department at (509) 325-4444 or at loandepartment@sccu.net.
If you have further questions about our other loans and lines of credit, e-mail a Loan Officer at loandepartment@sccu.net.
Or call us at (509) 325-7228