Apply For a Loan

If you are a current member of SMCU, applying for a loan is easy. Just log into SMCU OnLine and click "Apply For A Loan" located in the Services section of the online home page.

Apply Online               Apply As Guest

Apply For a Loan

If you are a current member of SMCU, applying for a loan is easy. Just log into SMCU OnLine and click "Apply For A Loan" located in the Services section of the online home page.

Apply Online               Apply As Guest

Apply For a Loan

If you are a current member of SMCU, applying for a loan is easy. Just log into SMCU OnLine and click "Apply For A Loan" located in the Services section of the online home page.

Apply Online               Apply As Guest

Apply For a Loan

If you are a current member of SMCU, applying for a loan is easy. Just log into SMCU OnLine and click "Apply For A Loan" located in the Services section of the online home page.

Apply Online               Apply As Guest

Open An Additional Account

If you are a current member of SMCU, opening additional accounts is easy. Just log into SMCU OnLine and click "Open an Additional Account" located in the Services section of the online home page.

Open Another Account Through SMCU OnLine               Open Another Account as a Guest

Security Lock SMCU OnLine Login
Apply Now

Continue an Existing Application
Get a Custom Rate Quote

Questions?
Call (650) 363-1799 (Option #1)
Email: reloanofficers@smcu.org

Book an appointment with one of our home loan experts.

Contact Me!

Fill out the request form and an SMCU mortgage expert will contact you.

Request Contact

Buying a home?

We want to help.

Click for details

Time to Refinance?

Let us make it easy

Click for details

New room or roof?

Home Equity Loans and Lines

Click for details

Mortgage Rates

Find a rate that works for you.

At San Mateo Credit union we offer competitive rates and we invite you to compare us with other lenders, but what truly sets us apart is our high level of service, low fees, and knowledge of when itís the right time for you to refinance.

Take a look at our current rates and be sure to contact an SMCU mortgage expert to go over your options.

Apply Now or Get a Custom Rate Quote

NEW! 40-Year ARM Options - For Purchase Loans Only
Product Rate Points APR
Conforming Loans: amounts up to $424,100.00
40 Year 5/5 ARM 3.63% 0 3.66%
40 Year 7/1 ARM 3.75% 0 3.79%
40 Year 10/1 ARM 4.00% 0 4.04%
High Balance Loans: amounts from $424,100.01 - $636,150.00
40 Year 5/5 ARM 3.63% 0 3.65%
40 Year 7/1 ARM 3.75% 0 3.78%
40 Year 10/1 ARM 4.00% 0 4.03%
Jumbo Loans: Amounts over $636,150.00
40 Year 5/5 ARM 3.625% 0 3.630%
40 Year 7/1 ARM 3.750% 0 3.755%
40 Year 10/1 ARM 4.000% 0 4.005%
Effective Date: October 21st, 2017

 

Conforming Loans
Product Rate Points APR
30 Year Fixed 3.875% 1.000% 4.005%
30 Year Fixed 4.000% 0 4.046%
20 Year Fixed 3.625% 1.000% 3.804%
20 Year Fixed 3.750% 0 3.814%
15 Year Fixed 3.375% 0 3.456%
10 Year Fixed 3.250% 0 3.368%
3/1 ARM 2.750% 0 2.793%
5/5 ARM 3.250% 0 3.294%
7/1 ARM 3.375% 0 3.420%
10/1 ARM 3.625% 0 3.670%
Conforming Loan Amounts to $424,100.00
Effective Date: October 21st, 2017

 

Conforming High Balance Loans
Product Rate Points APR
30 Year Fixed 4.125% 1.000% 4.241%
30 Year Fixed 4.250% 0 4.281%
15 Year Fixed 3.375% 1.000% 3.576%
15 Year Fixed 3.750% 0 3.805%
3/1 ARM 2.750% 0 2.779%
5/5 ARM 3.250% 0 3.256%
7/1 ARM 3.375% 0 3.405%
10/1 ARM 3.625% 0 3.655%
Conforming High Balance Loan Products $424,100.01 - $636,150.00*
Effective Date: October 21st, 2017

 

Jumbo Owner Occupied Mortgages
Product Rate Points APR
Jumbo 30 Year Fixed 4.000% 0 4.007%
Jumbo 15 Year Fixed 3.750% 0 3.762%
3/1 ARM 2.750% 0 2.757%
5/5 ARM 3.250% 0 3.280%
7/1 ARM 3.375% 0 3.381%
10/1 ARM 3.625% 0 3.631%
Jumbo Owner Occupied Mortgages
Amounts over $636,150.00
Effective Date: October 21st, 2017
Home Equity Loan
Amount Term Rate APR1
$25,000 - $300,000 5 years 4.00% 4.00%
$25,000 - $300,000 10 years 5.00% 5.00%
$25,000 - $300,000 15 years 5.50% 5.50%
Effective Date: October 21st, 2017
Home Equity Line of Credit
Amount Loan to Value APR2
$25,000 - $400,000 80% 4.25%
Effective Date: October 21st, 2017

Apply Now or Get a Custom Rate Quote

APR is Annual Percentage Rate. The advertised rates are based on a loan amount up to $424,100.00 for conforming loans, up to $636,150.00 for high balance conforming loans and up to $3,500,000.00 for jumbo loans for stated term including applicable points and customary closing costs. Loan amounts are shown at 60% conforming, 60% High Balance, and 70% Jumbo loan to value (LTV).

Rates and Points are based on the following: Owner occupied single family home. Middle fico scores of 740 or greater on all borrowers, rate & term refinance transaction at 60% Loan-to-Value and a 45-day rate lock without an impound account. Additional Pricing will be added if you do not meet these guidelines.

Advertised rates available for properties located in California. "High Balance Conforming" mortgage loan limit is determined by the county (or equivalent) where the property is located. Please contact the Real Estate Department for current rates & information on loan limits for counties other than San Mateo, San Francisco, Alameda & Santa Clara counties.

Maximum CLTV for rate & term refinances single family owner occupied and Second Homes, Approved Condominium, Town home Project is 80%. Non owner occupied properties rate and term maximum CLTV is 75%. CLTV up to 95% on owner occupied property purchases are available. Mortgage Insurance (MI) is required on all loans with greater than 80% CLTV. Maximum CLTV for loans over $1 million is 70%.

All Adjustable Rate Mortgages (ARM) have a 30-year amortization. ARM rates are subject to change on specified dates. The APR for the adjustable rate mortgage is based on the United States Treasury securities adjusted to a constant maturity (CMT) of 1 year or 5 year as made available by the Federal Reserve Board.

All loans are subject to credit, income, debt and property qualification. Loan level pricing adjustments may apply based upon certain eligibility or other loan features such as credit score, loan purpose, occupancy, number of units, product type, loan amount your rate may be higher or high balance feature and total CLTV. Rates and terms are subject to change without notice. Other restrictions and conditions may apply.

*Aggregate loan amount to member not to exceed $3,500,000.

Cash out loans available. Call the Real Estate Department if you have any questions. (650) 363-1799

1. APR = Annual Percentage Rate. Rates and terms shown are accurate as of October 21st, 2017, and apply to a Home Equity Loan for the most qualified applicant at the CLTV shown. Rates vary for second or vacation homes. Home Equity Loans are only available in California on owner occupied and vacation or second homes.

2. APR = Annual Percentage Rate. Rates and terms shown are accurate as of October 21st, 2017, and apply to a Home Equity Line for the most qualified applicant at the CLTV shown. Rates vary for second or vacation homes. Home Equity Lines of Credit are only available in California on owner occupied and vacation or second homes.

The minimum periodic payment for line of credit is interest-only for the first ten years ('draw period') followed by fully-amortizing payments to repay the balance over the final fifteen years. No draws will be allowed during the repayment period. Payments and rate can adjust monthly. Payments will increase if rates increase. At the end of the draw period, your required monthly payments will increase because you will be paying both principal and interest.

Line of credit rate is calculated using an index plus a margin. The index used is the Prime Rate as published in the Wall Street Journal Western Edition on the last business day of the month prior to the change. The current prime index is 4.250%. The minimum credit line amount is $25,000 and the maximum is $400,000. SMCU will pay customary closing costs on lines up to $150,000 in second lien position. Borrower is responsible for closing costs on lines in first lien position or over $150,000 and any escrow fees resulting from changes to title. Closing costs are up to $2,500 for lines above $150k. Borrower may be required to pay a notary fee varying $150 to execute the loan documents.

 

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