No closing costs2,3 and no points.

The thought of saving thousands over the life of your mortgage loan should leave you feeling warm and fuzzy. Our Short-Term, Low-Rate Mortgage loan could do just that. This unique loan allows you to finance up to 80%4,5,6 of your home’s value with no closing costs and no points! Plus, interest may be tax deductible.7

  • 5 years at 2.875% APR1
  • 7 years at 3.125% APR1
  • 10 years at 3.375% APR1

Estimate your savings and then contact a Schools Real Estate Loan Counselor to start your application. Call 916-569-5473 (Sacramento area) or 800-962-0990, ext. 5473.

Mortgage Rates

Rates, terms and conditions are subject to change.
1 APR=Annual Percentage Rate. All loans are subject to credit approval and Credit Union policies and procedures. Members are restricted from refinancing a current loan under this program into a new Short-Term, Low-Rate loan on the same property. Representative example: A $100,000 loan with an Annual Percentage Rate of 2.875% and an 60-month term would have a payment of $1,791.32. Payments do not include amounts for taxes and insurance premiums. Actual payment obligation will be greater.
2 Closing costs paid by the lender include credit report, document preparation, tax service, title and similar fees that are customary and reasonable to a standard refinance transaction.
3 If more than 20% of the original principal amount is paid off within the first 12 months there will be a prepayment charge equal to the amount of your closing costs or the sum of six (6) months’ advance interest on the amount of the excess, whichever is less.
4 A 20% down payment is required on purchases.
5 Investment properties will be limited to a combined loan-to-value of 60%.
Minimum loan amount restricted to $50,000 and a maximum loan amount of $417,000.
7 Consult your tax advisor regarding deductibility of interest.