- Fixed Rate Mortgage: SMCU’s Fixed Rate Mortgage Loan features an interest rate that remains unchanged for the term of the loan, guaranteeing fixed payments. Fixed Rate Mortgage Loans are a popular choice for First Time Home Buyers, Home Purchasers, or Refinance Transactions. 1-4 Unit purchase or refinance transactions available on primary, second, and investment occupancy.
- Adjustable Rate Mortgage: Adjustable Rate Mortgage, or ARM, features an interest rate that remains fixed for a period of time and then adjusts annually based on a preselected index, causing interest rates and payments to rise and fall with the market. ARMs are available for First Time Home Buyers, Existing Homeowners, and Construction/Rehab loans. 1-4 Unit purchase or refinance transactions available on primary, second, and investment occupancy.
- Construction/Renovation Mortgage: Construction/Renovation mortgage is used to finance a new home construction or the renovation of an existing home. If you’re looking to build a new home or renovate an existing one, Southern Mass Credit Union will make the process easy and efficient. SMCU offers one-time closing with interest paid and funds advanced incrementally during the construction period.
- Land Loans: SMCU has Land Loans to assist in the acquisition of a buildable lot. Whether you’re looking to purchase land to construct your dream home now or in the future, Southern Mass Credit Union can assist you with your financing needs.
- First Time Homebuyer: Southern Mass Credit Union has an affordable loan programs to assist Homebuyers in purchasing their first homes. Fixed Rate Mortgage Options available with low down payment and closing costs. Down Payment Funds may be gifted in its entirety.
- Free Mortgage Prequalification: Before house shopping, find out what homes are in your price range. Receive a free, no obligation prequalification from SMCU. Qualified homebuyers will receive a Mortgage Certificate Letter along with a coupon applicable towards closing costs when you finance your home purchase with Southern Mass Credit Union. Approval of loan is based upon established underwriting guidelines and credit worthiness.
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