Looking to purchase a new home or refinance your existing home?

Let South Carolina Federal Credit Union help you navigate the mortgage loan process. Whether you are purchasing or refinancing, our team of mortgage professionals is dedicated to helping you with every step of the process. We offer a number of mortgage options to meet your needs.

Fixed-Rate Mortgage

This loan features a fixed rate and fixed payment over the life of the loan. Consider this loan if you plan to be in your home for longer than 10 years or are concerned about interest rates rising.

Adjustable-Rate Mortgage

This loan features a lower initial interest rate than a fixed-rate mortgage. South Carolina Federal offers a five-year option ARM. The number refers to the length of time the initial interest rate remains constant. The ARM rate may be adjusted after that period of time. Consider this loan if you plan on being in your home less than 10 years and are not concerned about a variable interest rate.

FHA Mortgage

An FHA mortgage is a mortgage that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders. Typically, an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. A minimum FHA down payment of 3.5 percent is required. FHA loans are also assumable, which means if you want to sell your home, the buyer could assume the loan you have.

VA Mortgage

VA loans are home loans for the purchase of a primary residence available to consumers who have served or are presently serving in the U.S. military. The U.S. Department of Veterans Affairs (VA) backs loans made by private lenders to veterans who qualify. There are many benefits of a VA loan. No down payment is required, no mortgage insurance premiums, competitive interest rates and low closing costs. Typically you must be a veteran, active-duty personnel, Reservists/National Guard member, or in some cases, a surviving spouse of a veteran, to be eligible for a VA mortgage.

USDA Mortgage

The United States Department of Agriculture (USDA) provides a variety of loans to help people achieve homeownership. The single family guaranteed housing loan can help moderate-income households buy a home in a rural area. Typical USDA mortgages require little or no down payment, have competitive interest rates and closing costs.

Member Tips

Show sellers that you are a serious shopper by going through the process of being pre-qualified for your home purchase. This process gives you a good idea of how much home you can afford and increases your buying power when approaching sellers. Talk with your Mortgage Loan Officer about how to get pre-qualified today!

  • Rate may vary based on individual creditworthiness
  • Terms and conditions subject to change without notice