Welcome Home!

It is so exciting to buy a new home, but we know it can also be stressful. SECU’s team of local, dedicated mortgage professionals are here to help you through every step of the home buying process.

  • Many different mortgage solutions based on your unique needs from Fixed Rate Mortgages to Adjustable Rate Mortgages.
  • 100% locally-based mortgage team that understands the unique Maryland and Mid-Atlantic housing market.
  • Local underwriting, processing and services to better meet your individual needs quickly.
  • Concierge level service, guiding you through every step of your home-buying journey

Are you looking for a Home Equity Line of Credit (HELOC)

5/5 ARM Jumbo Purchase Program

Our 5/5 ARM Jumbo Purchase program is the ideal solution for borrowers who desire to increase their purchasing power. Take advantage of a below market rate for 5 years, and then adjust your rate every 5 years, thereafter, with a 2% adjustment cap.

Requirements:

  • $650,000 to $2,000,000 loan amounts
  • Below market rate
  • 20% down payment
  • Purchase Only
  • 720 score

Rate

3.750%

Points

0.000%

APR1

5.535%

7/1 ARM Jumbo Purchase Program

Similar to our 5/5 ARM, the 7/1 ARM Jumbo Purchase program is the ideal solution for borrowers who desire to increase their purchasing power. Take advantage of a below market rate for 7 years, and then adjust your rate every year, thereafter.

Requirements:

  • $650,000 to $2,000,000 loan amounts
  • Below market rate
  • 20% down payment
  • Purchase Only
  • 720 score

Rate

4.250%

Points

0.000%

APR1

5.354%

100% Financing – No down payment

Large down payments can be a significant obstacle to homeownership. SECU offers a 100% financing solution to responsible borrowers who are ready to buy their dream home, but don’t have the down payment.

Requirements:

  • Good credit
  • Purchasing primary residence
  • No other real estate owned
  • Contribute $1000 or 1% of the sale price (whichever is less)

10/1 100%

Rate

5.125%

Points

0.000%

APR1

5.152%

FHA – Low down payment

FHA (Federal Housing Authority) loans are insured by the federal government and have more flexible requirements for down payments, income qualifications and closing cost contributions.

Features:

  • Low down payment requirement of 3.5%
  • Available in 15- or 30-year fixed rate mortgages
  • For purchase or refinance of primary residence only

FHA 15 Year Fixed Loan

Rate

4.500%

Points

0.000%

APR1

4.812%

HomeReady® – Low to moderate income

Fannie Mae’s HomeReady program is a government backed loan designed for creditworthy borrowers with low to moderate incomes.

Features:

  • Down payments as low as 3%
  • Roommates and relatives may help you qualify

Fixed Rate Mortgage – Predictable monthly payments

Fixed rate mortgages are one of the most popular mortgage options, and offer predictable monthly payments for the life of your loan. We offer fixed rate loans from $10,000 up to $510,400.

Features:

  • Can qualify for up to 95% of purchase price on single family homes
  • Varying loan-to-value options for 2nd homes and investment properties

10 Year Fixed Loan

Rate

4.000%

Points

0.000%

APR1

4.065%

Adjustable Rate Mortgage – Low interest rate

An Adjustable Rate Mortgage (ARM) is best for borrowers who plan to be in their homes for a relatively short time and who want to take advantage of current interest rates.

Features:

  • Lock-in rate for 3, 5, 7 or 10 year terms
  • Typically offers lower interest rates than other mortgages

10/1 ARM

Rate

4.375%

Points

0.000%

APR1

5.186%

Jumbo Mortgage – Large loan amount

Jumbo mortgages are designed for loans from $510,400 to $2 million.

Features:

  • For purchase and refinance of primary residence only

MD Loan – For medical professionals

SECU’s MD Loan is specifically designed to provide favorable terms to members of the medical community.  We’ll work around your busy schedule to make the process convenient.

Features:

  • Down payment as low as 5%
  • No Private Mortgage Insurance required

VA Mortgages – For those that serve

SECU now offers VA Mortgages designed exclusively for active duty military, veterans, and their surviving spouses.

Features:

  • No down payment requirements
  • Pay no Mortgage Insurance
  • Competitive rates from our member-owned Maryland credit union
  • Even more features to support our veterans

Click to learn more about our VA Loan options.

Click the Get Started button to get pre-approved for financing.*

*Clicking the link above will send you into our online application process. After you fill out the application form, a Mortgage Loan Officer (Originator) will contact you within 2 business days to inform you if your application has been approved or if additional information is needed. If you have immediate questions, get in touch with a Mortgage Loan Originator near you.

Have questions? We have answers.

SECU offers both Conventional and FHA financing, including the following loan products:

  • Fixed Rate Mortgages, including 10, 15, 20, and 30 year mortgage
  • Adjustable Rate Mortgages, including 3/1, 5/1, 7/1, and 10/1 ARMs
  • FHA Mortgages
  • 100% Financing
  • Fannie Mae HomeReady® Mortgages
  • M.D Loans –special mortgages for medical professionals
  • Jumbo Mortgages

With an Adjustable Rate Mortgage, or “ARM,” your Interest rate is based on an index plus a margin. It is fixed for the initial period, such as first five years on a 5/1 ARM or the first seven years on a 7/1 ARM. The rate will then adjust each and every year thereafter. The new interest rate is based on the current index plus a margin. The rate interest is capped at 2% for each initial change, and the lifetime cap is 6% over the initial rate. Please contact us for the current index and margin.

100% financing is a mortgage product for first time buyers who have good credit but don’t have a lot of cash for a down payment or closing costs. Eligible borrowers can buy a home with a down payment of as little as 1% or $1,000 (whichever is less).

Error Resolution and Information Requests:

You have certain rights under Federal law related to resolving errors and requesting information about your loan account. In order to provide us with notice of an error on your loan account, or to request information about your loan account, please send us a written notice that contains (i) your name, (ii) your loan account number, and (iii) information concerning the error you believe has occurred or the information you are requesting about your loan. This written notice must be sent to the following address: SECU P.O. Box 2092, Glen Burnie, MD 21060.