Mortgages

We make applying for a mortgage as easy as possible.

At Sb1 we've helped hundreds of your fellow members finance homes and properties with our variety of mortgage products. Our dedicated team of Mortgage Specialists process mortgage applications every day. We understand this isn't something you do too often and we're here to help you through the process.

This section of our site contains great resources for you to review if you are considering a mortgage.

Select the office location that is the most convenient for you to have your Mortgage Loan processed through:

Apply Now And Get Pre-Approved

Check your Mortgage status

 

FREE INSURANCE QUOTE

Mortgage Options

Mortgage options to fit your needs.

Sb1 has a variety of options to choose from for purchasing a home. Below we've detailed specifics about each of our mortgage options to help you find the one that's right for you. If you have any questions you can contact one of our helpful Mortgage originators via e-mail at lndng@sb1fcu.org. 

Fixed Rate Mortgages

Sb1 Fixed Rate Mortgages are available for as much as 95% Loan-to-Value for up to $417,000. A full range of terms are available. Your interest rate and principal payment will remain the same throughout the length of your loan. This option is typically a good fit if you plan to be in your home five years or more and you're relatively certain that you won't need to refinance in the first few years.

Adjustable Rate Mortgages (ARMs)

As the name implies, these loans do not have fixed rates. Instead, they feature a rate that may adjust up or down with market conditions. If and when your rate adjusts - your payment will go up or down accordingly. Many members use ARMs because they could potentially offer lower interest rates initially compared to fixed-rate mortgages. The trade-off is the uncertainty of potential rate increases in the future.
1-year, 3-year and 7-year Adjustable Rate Mortages are available.

New Construction Loans

Available if you need funding for construction of a new home.

Balloon Loans

Balloon Loans provide another option for financing a home. The term Balloon is used to describe the way the loan is structured. Initial interest payments are considerably less at the beginning of the loan for a preset period of time until a large payment is due. The loan is structured this way to allow you flexibility if you are expecting a large amount of cash in the future or if you are planning to refinance.

Apply today online:

Apply Now

 

If you are unable to apply online, or have questions about Mortgages you can contact one of our originators at lndng@sb1fcu.org or call 800.806.9465.