Rates


Print This
Page

Deposit Account Rates

APY = Annual Percentage Yield. Dividend rate and APYs subject to change after the account is opened.


Savings

Effective July 1, 2020

Account Dividend Rate APY
Banking for Everyone1 0.10% 0.10%
Banking for Youth1 0.10% 0.10%
Summer Reserve 0.10% 0.10%
Holiday Savings Club 0.10% 0.10%

Minimum $5 required to open and maintain account. Dividends paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Fees and other conditions could reduce earnings on any of the above accounts. The Dividend Rates and APYs on saving accounts are subject to change on a quarterly basis. Dividend Rates and APYs on Super$hare, Premier Money Market and Interest Checking Accounts are subject to change monthly as determined by the Board of Directors. For current Dividend Rates and APYs, please call the Credit Union at 916-569-5400 or 800-962-0990. The Dividend Rates and APYs quoted above are accurate as of April 30, 2020.
 


Checking

Effective July 1, 2020

Account Minimum Balances3 Dividend Rate APY
Interest Checking and Business Checking2 $0.01 - $24,999.99 0.05% 0.05%
  $25,000 - $99,999.99 0.08% 0.08%
  $100,000 + 0.10% 0.10%
Premier Money Market Checking4 $0.01 - $1,999.99 0.05% 0.05%
  $2,000 - $9,999.99 0.15% 0.15%
  $10,000 - $24,999.99 0.20% 0.20%
  $25,000 - $49,999.99 0.25% 0.25%
  $50,000 - $99,999.99 0.35% 0.35%
  $100,000 + 0.45% 0.45%

 


Money Market

Effective July 1, 2020

Account Minimum Balances3 Dividend Rate APY
Premier Money Market $0.01 - $1,999.99 0.05% 0.05%
  $2,000 - $9,999.99 0.15% 0.15%
  $10,000 - $24,999.99 0.20% 0.20%
  $25,000 - $49,999.99 0.25% 0.25%
  $50,000 - $99,999.99 0.35% 0.35%
  $100,000 + 0.45% 0.45%

 


Super$hare

Effective July 1, 2020

Minimum Balances3 Dividend Rate APY
$0.01 - $1,999.99 0.05% 0.05%
$2,000 - $9,999.99 0.15% 0.15%
$10,000 - $24,999.99 0.20% 0.20%
$25,000 - $49,999.99 0.25% 0.25%
$50,000 - $99,999.99 0.35% 0.35%
$100,000 + 0.45% 0.45%

 


Premium Rate Certificate

Effective June 30, 2020

Minimum Balances3 $500 $20,000 $50,000 $100,000 
Term Dividend Rate APY Dividend Rate APY Dividend Rate APY Dividend Rate APY
3 Month 0.35% 0.35% 0.40% 0.40% 0.45% 0.45% 0.50% 0.50%
6 Month 0.70% 0.70% 0.75% 0.75% 0.80% 0.80% 0.85% 0.85%
12 Month 1.01% 1.01% 1.05% 1.05% 1.10% 1.10% 1.15% 1.15%
18 Month 1.05% 1.05% 1.10% 1.10% 1.15% 1.15% 1.19% 1.20%
24 Month 1.10% 1.10% 1.15% 1.15% 1.19% 1.20% 1.24% 1.25%
30 Month 1.10% 1.10% 1.15% 1.15% 1.19% 1.20% 1.24% 1.25%
36 Month 1.15% 1.15% 1.19% 1.20% 1.24% 1.25% 1.29% 1.30%
48 Month 1.19% 1.20% 1.24% 1.25% 1.29% 1.30% 1.34% 1.35%
60 Month 1.24% 1.25% 1.29% 1.30% 1.34% 1.35% 1.39% 1.40%
12 Month Add On5 0.71% 0.71% 0.75% 0.75% 0.80% 0.80% 0.85% 0.85%
30 Month Opt-Up6 0.80% 0.80% 0.85% 0.85% 0.90% 0.90% 0.95% 0.95%
  $200 Minimum Balance3
Term Dividend Rate APY
12 Month College Saver 1.10% 1.10%

Premium Rate Certificates automatically renew at the prevailing APY with a 10-day grace period. A penalty may be imposed for early withdrawal. The applicable Dividend Rates and APYs set forth above would be paid for the length of the term listed.


 

 


IRA & Deferred Compensation Shares

Effective July 1, 2020

Account Minimum Balances3 Dividend Rate APY
IRA & Deferred Compensation  All Balances 0.25% 0.25%

 


IRA & Deferred Compensation Certificates

Effective June 30, 2020

Minimum Balances3 $500 $20,000 $50,000 $100,000
Term Dividend Rate APY Dividend Rate APY Dividend Rate APY Dividend Rate APY
3 Month 0.40% 0.40% 0.45% 0.45% 0.50% 0.50% 0.55% 0.55%
6 Month 0.75% 0.75% 0.80% 0.80% 0.85% 0.85% 0.90% 0.90%
12 Month 1.05% 1.05% 1.10% 1.10% 1.15% 1.15% 1.19% 1.20%
18 Month 1.10% 1.10% 1.15% 1.15% 1.19% 1.20% 1.24% 1.25%
24 Month 1.15% 1.15% 1.19% 1.20% 1.24% 1.25% 1.29% 1.30%
30 Month 1.15% 1.15% 1.19% 1.20% 1.24% 1.25% 1.29% 1.30%
36 Month 1.19% 1.20% 1.24% 1.25% 1.29% 1.30% 1.34% 1.35%
48 Month 1.24% 1.25% 1.29% 1.30% 1.34% 1.35% 1.39% 1.40%
60 Months 1.29% 1.30% 1.34% 1.35% 1.39% 1.40% 1.44% 1.45%
12 Month Add On4 0.75% 0.75% 0.80% 0.80% 0.85% 0.85% 0.90% 0.90%
30 Month Opt-Up5 0.85% 0.85% 0.90% 0.90% 0.95% 0.95% 1.00% 1.00%

IRA & Deferred Compensation Certificates automatically renew at the prevailing APY with a 10-day grace period. A penalty may be imposed for early withdrawal. The applicable Dividend Rates and APYs above are paid for the length of the term listed.

1 Banking for Everyone/Youth accounts opened on or before 12/31/2019, a dividend rate of 7% will be paid only on the portion of your daily balance that is less than $500.01 that meets the Banking for Everyone/Youth qualifications. The APY will range between 7% and 7.19% depending upon account balance. Dividends compound at 7% APY up to an account balance of $500. Notwithstanding anything to the contrary in your Schools Financial Truth in Savings Disclosure (“Disclosure”), you understand and agree that the 7% APY does not compound on the portion of your daily account balance greater than $500. An APY of .10% will be paid on non-qualifying accounts and the portion of your account balance greater than $500. Business and organization accounts are not eligible. One Banking for Everyone account per Social Security Number. Contact the Credit Union or visit schools.org for additional account qualifying information.
2 This rate applies to Business Checking accounts initially opened as an Interest Checking account prior to May 29, 2018.
3 Minimum balances required to earn the stated Annual Percentage Yield (APY).
4 The Credit Union no longer offers the Premier Money Market Checking. Accounts established prior to June 1, 2020, are grandfathered at the existing terms and conditions outlined in the "About Your Credit Union Account Agreement and Disclosure."
5 Premium Rate Add-On Certificates, and IRA and Deferred Compensation Add-On Certificates allow additional deposits in increments of $500 or more up to an amount equal to the initial opening (or renewal) balance.
6 Premium Rate, and IRA and Deferred Compensation Certificates allow a one-time interest rate increase during the certificate term. The member may either opt-up to the current dividend rate while also extending their term an additional 30 months OR opt-up to the current dividend rate of a certificate less than or equal to the remaining months on the certificate.

Dividend rates are prospective and subject to change. Dividends paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Fees and other conditions could reduce earnings on any of the above accounts. The Dividend Rates and APYs on Saving Accounts are subject to change on a quarterly basis. Dividend Rates and APYs on Super$hare, Premier Money Market and Interest Checking Accounts are subject to change monthly as determined by the Board of Directors. For current Dividend Rates and APYs, please call the Credit Union at 916-569-5400 (Sacramento area) or 800-962-0990.



 

Consumer Loan Rates

APR = Annual Percentage Rate.


Auto Loan, New

Effective August 1, 2020

Term APR as low as
0-48 months 2.69%
49-60 months 2.69%
61-66 months 2.99%
67-72 months 2.99%
73-84 months 3.79%
   

A new vehicle is defined as a current or previous model year with less than 10,000 miles. Financing for new vehicles is available for up to 125% of MSRP plus GAP waiver ($1,000 max) and ancillary products.1 GAP is not required. Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $28,000, 48-month loan at 2.69% APR and 100% financing, would require 47 payments of $615.96 with one final payment of $615.68.
1 Ancillary products would include warranty and/or prepaid maintenance, up to $3,500 or 15% MSRP whichever is greater, $8,000 max.


Auto Loan, Used

Effective August 1, 2020

Term APR as low as
0-48 months 2.84%
49-60 months 2.84%
61-66 months 3.14%
67-72 months 3.14%
73-84 months 4.24%

Financing for used vehicles is available for up to 120% of Retail Blue Book value plus GAP waiver ($1,000 max) and ancillary products.2 Refinances up to 120% of Retail Blue Book value plus GAP waiver. GAP is not required. Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $15,000, 48-month loan at 2.84% APR and 100% financing, would require 47 payments of $330.97 with one final payment of $330.87.
1 Ancillary products would include warranty and/or prepaid maintenance, up to $3,500 or 15% Retail Blue Book whichever is greater, $8,000 max.

2 Rates for cars, trucks, vans and sports utility vehicles with model years 2006 through 2010 will be priced at rates as low as 5.34%. The maximum term for a vehicle older than 10 years is 66 months.


Boat Loan, New

Effective August 1, 2020

Amount Term APR
$5,000 - $75,000 84 months 5.99% - 12.99%

100% NADA Retail, Marine Survey or Selling Price (including sales tax and license), whichever is less. GAP coverage is available for recreational vehicles for a maximum loan amount of $75,000 and for boats for a maximum loan amount of $50,000. Plus GAP (max. $1,000), and ancillary products up to the greater of $3,500 or 15% of NADA Retail/Selling Price (max. $8,000).Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $25,000, 84-month loan at 5.99% APR would require 83 payments of $365.15 with one final payment of $364.28.
1 Maximum GAP waiver for boats and recreational vehicles ranges from $700 - $995 depending on loan amount. Maximum loan amount eligible for GAP coverage is $50,000 and coverage provided shall not exceed 84 months.


Boat Loan, Used

Effective August 1, 2020

Amount Term APR
$5,000 - $49,999 72 months 6.24% - 13.24%
$50,000 - $75,000 84 months 6.24% - 13.24%

100% NADA Retail, Marine Survey or Selling Price (including sales tax and license), whichever is less. GAP coverage is available for recreational vehicles for a maximum loan amount of $75,000 and for boats for a maximum loan amount of $50,000. Plus GAP (max. $1,000), and ancillary products up to the greater of $3,500 or 15% of NADA Retail/Selling Price (max. $8,000). Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $25,000, 84-month loan at 6.24% APR would require 83 payments of $368.15 with one final payment of $367.90.
1 Maximum GAP waiver for boats and recreational vehicles ranges from $700 - $995 depending on loan amount. Maximum loan amount eligible for GAP coverage is $50,000 and coverage provided shall not exceed 84 months.


Motorcycle, New

Effective August 1, 2020

Amount Term APR
$1,000 - $50,000 84 months 4.99% - 11.99%

A new vehicle is defined as a current or previous model year with less than 100 miles. 100% Retail Blue Book or Selling Price (including sales tax and license), whichever is less. Plus GAP (max. $1,000), and ancillary products up to the greater of $3,500 or 15% of NADA Retail/Selling Price (max. $8,000). Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $10,000, 84-month loan at 4.99% APR would require 83 payments of $141.31 with one final payment of $141.13.


Motorcycle, Used

Effective August 1, 2020

Amount Term APR
$1,000 - $35,000 72 months (max. 5 model years) 5.24% - 12.24%

100% Retail Blue Book or Selling Price (including sales tax and license), whichever is less. Plus GAP (max. $1,000), and ancillary products up to the greater of $3,500 or 15% of NADA Retail/Selling Price (max. $8,000). Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $10,000, 60-month loan at 5.24% APR would require 59 payments of $189.83 with one final payment of $189.36.


Recreational Vehicle, New

Effective August 1, 2020

Amount Term APR
$5,000 - $49,999 84 months 4.89% - 12.99%
$50,000 - $75,000 120 months 5.19% - 13.49%

A new vehicle is defined as a current or previous model year (financed before January 1 of the current year), with less than 10,000 miles. 110% NADA low Retail or Selling Price (including sales tax and license), whichever is less. Limited to 90% for motorized RVs. Plus GAP (max. $1,000), and ancillary products up to the greater of $3,500 or 15% of NADA low Retail/Selling Price (max. $8,000). GAP coverage is available for recreational vehicles for a maximum loan amount of $75,000 and for boats for a maximum loan amount of $50,000. Maximum GAP waiver for recreational vehicles ranges from $700 - $995, depending on loan amount. Maximum loan amount eligible for GAP coverage is $75,000 and coverage provided shall not exceed 84 months. Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $35,000, 84-month loan at 4.89% APR would require 83 payments of $492.94 with one final payment of $492.12.


Recreational Vehicle, Used

Effective August 1, 2020

Amount Term APR
$5,000 - $75,000 84 Months (12 Mdl yrs or Newer) 5.19% - 13.24%

110% NADA low Retail or Selling Price (including sales tax and license), whichever is less. Plus GAP (max. $1,000), and ancillary products up to the greater of $3,500 or 15% of NADA low Retail/Selling Price (max. $8,000). GAP coverage is available for recreational vehicles for a maximum loan amount of $75,000 and for boats for a maximum loan amount of $50,000. Limited to 90% for motorized RVs. Maximum GAP waiver for recreational vehicles ranges from $700 - $995, depending on loan amount. Maximum loan amount eligible for GAP coverage is $75,000 and coverage provided shall not exceed 84 months. Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $35,000, 72-month loan at 5.19% APR would require 71 payments of $566.82 with one final payment of $566.63.


NEW Jet Ski, ATV, Snowmobile, Neighborhood Electric Vehicle, Horse Trailer1

Effective August 1, 2020

Amount Term APR
$1,000 - $50,000 84 months 5.45% - 12.45%

Financing is available for up to 100% of selling price, including sales tax, license and GAP1 waiver ($399 Max). All loans in this section are for current model years only.Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
1 Horse Trailers are not eligible for GAP.
Representative Example: A $15,000, 84-month loan at 5.45% APR would require 83 payments of $215.23 with one final payment of $214.75.


Personal Loan

Effective August 1, 2020

Amount Term APR
Up to $25,000 60 months 7.95% - 14.25%

Unsecured personal loan limits are subject to Credit Union policies.
Representative Example: A $10,000, 60-month loan at 7.95% APR and 100% financing, would require 59 payments of $202.57 with one final payment of $202.12.


Line of Credit

Effective August 1, 2020

Amount Repayment Terms APR
Up to $25,000 $10 per $500 6.49% - 13.40%

Unsecured loan limits are subject to Credit Union loan policies.
This APR will vary with the market based on the Prime Rate. APR is determined on the first Tuesday of each month by adding a variable Index in effect on the first Tuesday of the prior month to a Margin. The Index is the Prime Rate published in the print edition of The Wall Street Journal on the first Tuesday of the month preceding the month in which the change takes effect. Variable APRs disclosed above are based on the 3.25% Prime Rate published on July 7, 2020.


Certificate Secured

Effective August 1, 2020

Limit Term Rate
80% Face value of certificate At certificate maturity Certificate rate + 2.50% APR

Loan amount is limited to 80% of face value of your certificate.
Representative Example: A $10,000, 120-month loan at 4.99% APR, would require 120 payments of $106.04 with one final payment of $105.25.


Share Secured

Effective August 1, 2020

Term APR
120 months 4.99%

Loan amount is limited to the amount deposited in the account.
Representative Example: A $10,000, 120-month loan at 4.99% APR that will secure the loan, would require 120 payments of $106.04 with one final payment of $105.25.


Computer

Effective August 1, 2020

Amount Term APR
$500 - $5,000 36 months 7.79%

Representative Example: A $3,000, 36-month loan at 7.79% APR would require 35 payments of $93.72 with one final payment of $93.66.


Educator

Effective August 1, 2020

Loan Limit Term APR
Administrator Credential Cost of program 48 months 5.90%
Classroom Supplies1 $500 10 months 0.00%
Educator Computer $500 - $5,000 36 months 6.90%
Teacher Certification2 $2,500 24 months 5.90%
Teacher Intern3 Cost of program 36 months 5.90%
Teacher Relocation4 $5,000 36 months 8.90%

1 Available to certificated employees only.
2 Available to certificated employees who qualify for the National Board for Professional Teaching Standards (NBPTS) test only.
3 Eligible participants work for an Office of Education within our field of membership and have been accepted into the program.
4 Available to certificated employees only. Must provide proof of a signed contract with a school in Schools’ field of membership.
Representative Example: A $3,000, 36 month loan at 8.90% APR would require 35 payments of $95.27 with one final payment of $95.22.
Contact the Credit Union to apply for an Administrator Credential Loan.

Home Loan Rates

IMPORTANT INFORMATION:

The rate you may qualify for is based on a variety of factors. In addition to property type, credit history, and loan-to-value, other factors may include loan purpose, loan amount, occupancy, lien(s), income and other financial obligations. Please see “Mortgage Loan Pricing Information" below for details.

Payment examples are based on 80% LTV and do not include the cost of property taxes or insurance, so the actual payment obligation will be greater. PMI will be required if the financed amount is over 80% LTV. The APR shown includes an estimate of 30 days of prepaid interest. All programs, loan rates, APR, points, and terms listed are subject to change without notice. All loans are subject to approval. APR = Annual Percentage Rate.

The credit union uses pricing evaluation to determine your mortgage loan interest rate and point combination. This evaluation assesses a group of pricing factors (listed below) specifically related to your mortgage loan. Following the initial evaluation of these pricing factors, you will be given an estimate of what your price will be.

Main Factors That Impact Your Mortgage Loan Price

Credit Score: Your credit score is a number based on information from your credit report including payment history, length of credit history, outstanding balances, and types of credit. Higher scores indicate a more sound credit profile based on maintaining timely payments, low balances, and only opening new credit accounts as needed. FICO is the most commonly used scoring system with a range from 300-850.

Property: The value of the property, determined by an appraisal or other property evaluation, compared to the amount you wish to borrow represents your loan-to-value or "LTV." Typically, you will improve your loan pricing with lower LTV’s. The type of property you are considering is also important. For example, a multiple-unit property or condominium will have a different price point compared to a single family detached property.

Loan Type/Term: This refers to the type of loan product you select and its corresponding term. For example, a conforming fixed-rate purchase product will have different pricing than a cash-out refinance product based on the credit and property considerations described above. Term = Length of the loan.


Purchase Mortgage Loan Rates & Terms

Rates quoted are effective as of August 13, 2020, and are subject to change without notice.

Fixed-Rate Mortgage Programs

Term Rate APR1 Points Estimated Payment2
Conforming 30-year Fixed Rate 2.875% 3.061% 1.00
Conforming 30-year Fixed Rate 3.125% 3.233% 0.00
Jumbo 30-year Fixed Rate 3.000% 3.098% 1.00
Jumbo 30-year Fixed Rate 3.250% 3.270% 0.0
Conforming 20-year Fixed Rate 2.625% 2.886% 1.00
Conforming 20-year Fixed Rate 2.875% 3.026% 0.0
Conforming 15-year Fixed Rate 2.375% 2.713% 1.00
Conforming 15-year Fixed Rate 2.625% 2.819% 0.0
Conforming 10-year Fixed Rate 2.375% 2.870% 1.00
Conforming 10-year Fixed Rate 2.625% 2.909% 0.0

Eligible properties are primary residence single-family homes, condominiums (cannot exceed four stories) and manufactured homes. Minimum down payment 5%; minimum down payment for manufactured homes is 10%. Manufactured Homes are not eligible as investment properties. PMI required for down payment less than 20%. Second homes and investment properties are limited to 60% Loan LTV. Conforming fixed rate mortgage loans have a maximum loan amount of $510,400. Loans above the conforming loan limit are jumbo loans. Loan Amounts up to $1,000,000 available with a max Loan-to-Value of 90%. Private Mortgage Insurance (PMI) is required for down payments less than 20%.

  1. APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on $100,000 for the stated term.
  2. Conforming payment examples are based on a $100,000 loan amounts, only include (P&I) principal and interest and do not include taxes and insurance. Jumbo payment example amounts are based on a $550,000 loan, only include (P&I) principal and interest, and do not include taxes and insurance. Actual payments may be greater.

Adjustable Rate Mortgage Programs

Term Rate APR1 Points Estimated Payment2
Conforming 5/1 Adjustable Rate (ARM) 2.625% 2.516% 0.0
Jumbo 5/1 Adjustable Rate (ARM) 2.750% 2.514% 0.0
Hometown 10/1 Adjustable Rate (ARM)1 3.500% 3.115% 0.0
Hometown 7/1 Adjustable Rate (ARM)2 3.375% 2.889% 0.0
Hometown 5/1 Adjustable Rate (ARM)3 3.250% 2.731% 0.0

Eligible properties include primary residence single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify. Minimum down payment 5%. ARM rates are Variable. Conforming and hometown loans have a maximum loan amount of $510,400. Loans above the conforming loan limit are known as “jumbo” loans. Amounts up to $1,000,000 available with max Loan-To-Value of 85%. PMI is required for down payments less than 20%. APR and payment subject to increase after loan consummation. Rate is fixed for first five, seven, or ten years, depending on program. After the fixed term rates may change every year and are calculated based on index plus margin, but cannot increase more than 2% in any annual adjustment. Index based on the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board (1 year T-bill).

  1. APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term
  2. Conforming payment examples are based on a $100,000 loan amounts, only include (P&I) principal and interest and do not include taxes and insurance. Jumbo payment example amounts are based on a $550,000 loan, only include (P&I) principal and interest, and do not include taxes and insurance. Actual payments may be greater.

Educational Employee Mortgage Programs

Term Rate APR1 Points Estimated Payment2
Educational Employee Mortgage 30-year Fixed Rates 2.750% 2.804% 1.00
Educational Employee Mortgage 30-year Fixed Rates 3.000% 3.055% 0.00
Educational Employee Mortgage 15-year Fixed Rates 2.250% 2.302% 1.00
Educational Employee Mortgage 15-year Fixed Rates 2.500% 2.553% 0.00

Eligible properties are primary residence single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify. Minimum down payment 5%. Must be an eligible school employee to qualify. PMI will be required if the financed amount is over 80% for the Education Employee Mortgage Program. Maximum loan amount $510,400.

  1. APR = Annual Percentage Rate. APR includes 30 days of estimated prepaid interest. Rates quoted and payment examples are based on a loan amount of $100,000 for the stated term and only include principal and interest.

Refinance Mortgage Loan Rates

Rates quoted are effective as of August 13, 2020, and are subject to change without notice.

Fixed Rate Mortgage Programs

Term Rate APR1 Points Estimated Payment2
Conforming 30-year Fixed Rate 3.125% 3.313% 1.00
Conforming 30-year Fixed Rate 3.375% 3.484% 0.00
Jumbo 30-year Fixed Rate 3.375% 3.475% 1.00
Jumbo 30-year Fixed Rate 3.625% 3.645% 0.0
Conforming 20-year Fixed Rate 2.875% 3.139% 1.00
Conforming 20-year Fixed Rate 3.125% 3.277% 0.0
Conforming 15-year Fixed Rate 2.500% 2.839% 1.00
Conforming 15-year Fixed Rate 2.750% 2.945% 0.0
Conforming 10-year Fixed Rate 2.375% 2.870% 1.00
Conforming 10-year Fixed Rate 2.625% 2.909% 0.0

Eligible properties are primary residence single-family homes, condominiums (cannot exceed four stories) and manufactured homes. Minimum down payment 5%; minimum down payment for manufactured homes is 10%. PMI required for down payment less than 20%. Second homes and investment properties are limited to 60% Loan LTV. Conforming fixed rate mortgage loans have a maximum loan amount of $510,400. Loans above the conforming loan limit are jumbo loans. Loan Amounts up to $850,000 available with a max Loan-to-Value of 95%. Private Mortgage Insurance (PMI) is required for down payments less than 20%.

  1. APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on $100,000 for the stated term.
  2. Conforming payment examples are based on a $100,000 loan amounts, only include (P&I) principal and interest and do not include taxes and insurance. Jumbo payment example amounts are based on a $550,000 loan, only include (P&I) principal and interest, and do not include taxes and insurance. Actual payments may be greater.

Adjustable Rate Mortgage Programs

Term Rate APR1 Points Estimated Payment2
Conforming 5/1 Adjustable Rate (ARM) 2.875% 2.601% 0.0
Jumbo 5/1 Adjustable Rate (ARM) 2.875% 2.557% 0.0
Hometown 97 10/1 Adjustable Rate (ARM)1 3.500% 3.115% 0.0
Hometown 97 7/1 Adjustable Rate (ARM)2 3.375% 2.889% 0.0
Hometown 97 5/1 Adjustable Rate (ARM)3 3.250% 2.731% 0.0

Eligible properties include primary residence single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify. Minimum down payment 5%. ARM rates are Variable. Conforming and hometown loans have a maximum loan amount of $510,400. Loans above the conforming loan limit are known as “jumbo” loans. Amounts up to $1,000,000 available with max Loan-To-Value of 85%. PMI is required for down payments less than 20%. APR and payment subject to increase after loan consummation. Rate is fixed for first five, seven, or ten years, depending on program. After the fixed term rates may change every year and are calculated based on index plus margin, but cannot increase more than 2% in any annual adjustment. Index based on the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board (1 year T-bill).

  1. APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term
  2. Conforming payment examples are based on a $100,000 loan amounts, only include (P&I) principal and interest and do not include taxes and insurance. Jumbo payment example amounts are based on a $550,000 loan, only include (P&I) principal and interest, and do not include taxes and insurance. Actual payments may be greater.

Educational Employee Mortgage Programs

Term Rate APR1 Points Estimated Payment2
Educational Employee Mortgage 30-year Fixed Rates 2.750% 2.804% 1.00
Educational Employee Mortgage 30-year Fixed Rates 3.000% 3.055% 0.00
Educational Employee Mortgage 15-year Fixed Rates 2.250% 2.302% 1.00
Educational Employee Mortgage 15-year Fixed Rates 2.500% 2.553% 0.00

Eligible properties are primary residence single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify. Minimum down payment 5%. Must be an eligible school employee to qualify. PMI will be required if the financed amount is over 80% for the Education Employee Mortgage Program. Maximum loan amount $510,400.

  1. APR = Annual Percentage Rate. APR includes 30 days of estimated prepaid interest. Rates quoted and payment examples are based on a loan amount of $100,000 for the stated term and only include principal and interest.

Home Equity Rates & Terms

IMPORTANT INFORMATION:

  • All lines of credit are subject to credit approval and Credit Union policies and procedures. Other terms and conditions may apply
  • Equity loans and lines of credit are not allowed behind negatively amortizing first mortgage loans (including reverse mortgages) or first mortgages with a balloon.
  • Equity loans must be in second lien position. Properties with no existing mortgage are ineligible for our equity loan product. If a Schools Equity Loan is currently in first lien position it cannot be refinanced. In this circumstance, an additional equity loan may be placed in second lien position.
  • For loan amounts $200,000 and under, "no closing costs" are based on the property value being established using an Automated Valuation Model (AVM). Loans requiring a professional appraisal will incur costs related to the appraisal, up to $750.00.
  • Additional fees for ALTA title insurance and Escrow fees will be the member's responsibility for homes with construction in progress.
  • Members may have only one Owner-Occupied HELOC open at any time.
  • Property insurance is required. Flood insurance required when applicable.

Home Equity Loan Program

Rates quoted are effective as of August 1, 2020, and are subject to change without notice.

Term Rate (%) APR1 Loan Amount Maximum CLTV2
48 Months 4.990% 4.990% $10,000 - $250,000 80%
60 Months 5.240% 5.240% $10,000 - $250,000 80%
84 Months 5.490% 5.490% $10,000 - $250,000 80%
120 Months 5.125% 5.125% $10,000 - $250,000 80%
180 Months 5.375% 5.375% $10,000 - $250,000 80%

Representative Example: A loan in the amount of $30,000, at an APR of 5.125% and a term of 120 months would have a payment of $319.85. Payment example does not include amounts for taxes and insurance premiums, if applicable, the actual payment obligation will be greater.

  1. APR = Annual Percentage Rate
  2. Maximum Combined Loan to Value (CLTV) of 75% for 2-unit properties.

Home Equity Line of Credit (HELOC) Programs

Rates quoted are effective as of July 18, 2020, and are subject to change without notice.

Product Credit Limit Maximum CLTV APR1 Index1 Floor1 Margin2 Maximum Rate Fees
HELOC $5,000 - $250,000 80% 4.00% 3.25% 4.00% 0.000-1.250% 17.00% $50 Annual Fee (waived first year)
NOO HELOC $10,000 - $150,000 70% 4.00% 3.25% 4.00% 0.000-1.250% 18.00% $50 Annual Fee (waived first year)

All lines of credit are subject to credit approval and Credit Union policies and procedures. Other terms and conditions may apply. HELOC’s have an initial draw period of 10 years, with an additional 15-year repayment term. Members may have only one Owner-Occupied HELOC open at any time. Maximum Combined loan to value (CLTV) of 70% for two-unit properties.

  1. APR= Annual Percentage Rate. The APR is variable. The APR is determined by adding the applicable “Margin” to the “Index” in effect on each APR Adjustment Date. The Index is the Prime Rate as published in the “Money Rates” section of the Wall Street Journal. Final APR and Margin are based on creditworthiness and Combined loan to value (CLTV). Margin ranges from 0.000% - 1.250%, based on FICO and CLTV.