LoanFlex
Interested in lowering your interest rate without the time, effort, or expense of refinancing?
Is your adjustable-rate mortgage (ARM) about to adjust? Or do you want to take advantage of a favorable rate and lock it for another term?
SECU’s LoanFlex program is the quick and easy way to take control of your ARM.
Benefits of LoanFlex
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No closing costs
Save money compared to refinancing.
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Streamlined process
No appraisal, credit check, or underwriting required.
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Quick application
Members can complete LoanFlex modifications online in less than 10 minutes.
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Multiple resets available
Members can reset their interest rate every 12 months, to a maximum of five resets.
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Reset to your original fixed term
Your reset is the same as your original fixed term. Have a 10/1? Your reset will be 10/1, giving you a smooth continuation of your mortgage.
Ready to get started?
To check loan eligibility and to start the LoanFlex process, simply:
- Log in to mobile or online banking
- Click the Loan Hub menu option under Accounts
- Then click the LoanFlex button
LoanFlex FAQs
To qualify for LoanFlex, a member must meet the following criteria:
- Have an active portfolio 3/1, 5/1, 5/5, 7/1 or 10/1 ARM with SECU.
- Have made at least 12 monthly payments (either from closing or last reset/modification).
- Your loan must be current, with no late payments in last 12 months, and you must not have a current or prior bankruptcy.
- You must be a SECU member in good standing and have an active SECU share savings account with a balance of at least $10.
Members can check their eligibility in mobile or online banking by clicking the Loan Hub menu option under Accounts and then clicking the LoanFlex button.
SECU also sends members a monthly email notifying them if they are eligible.
Members are allowed up to five resets with LoanFlex.
Members with additional questions about LoanFlex can contact a SECU loan officer here.
Your interest rate and payment may decrease or increase. Review your offer carefully to ensure you understand the impact and that it aligns with your objectives. In all cases, the original maturity date of your loan will not change. Contact a SECU Loan Officer if you have questions. Program availability and terms subject to change without notice. Availability and terms determined at time of modification and there is no guarantee of program availability.
