Mortgage Loans
Start your journey to homeownership with ServU!
Whether you're buying your first home, your dream home, or refinancing your current mortgage, we're here to help every step of the way. With competitive rates, personalized service, and a commitment to your financial success, the ServU team will work with you to make the borrowing process as smooth and straightforward as possible.
Explore mortgage options and get started today on the path to homeownership with ServU Credit Union!
Fixed Rate Mortgages
- Various terms available. View our rates.
- For home purchases: borrow up to 95% of the home's appraised value or purchase price, whichever is lower.
- For refinances: borrow up to 90% of the home's appraised value.
- For cash-out refinances: borrow up to 80% of the home's value.
- No pre-payment penalties.
Mortgages over 80% LTV will require Private Mortgage Insurance (PMI). Escrow accounts are required for mortgages over 80% LTV, and are optional on others. New construction is excluded.
Collateral Mortgages
- A mortgage for situations like: rental properties, investment properties, vacant or undeveloped land.
- Various terms available. View our rates.
- Finance up to 90% of the value of the collateral for properties with a mortgageable structure.
- Finance up to 80% of the value of the collateral for undeveloped land.
Manufactured Home Mortgages
- Various terms available. View our rates.
- Borrow up to 90% of the appraised value
- Single-wide homes are excluded.
| Term | Interest Rate | APR* |
|---|---|---|
| 15 years | 6.30% | 6.38% |
| 20 years | 6.77% | 6.85% |
| 30 years | 5.99% | 6.07% |
* APR = Annual Percentage Rate Examples (estimated): 15 year: A $100,000 mortgage at 6.38% APR (6.30% interest rate) would have 180 payments of (an estimated) $860.15 (principal and interest only). | ||
How much house can I afford?
When you're buying a home, mortgage lenders don't look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating. Use our new house calculator to determine how much of a mortgage you may be able to obtain.
