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

New room or roof?

Home Equity Loans and Lines

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Mortgage Experts

Meet the SMCU team

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Mortgage Seminars

Free education from SMCU

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Refinance and Lower your Rate

Run the refi numbers, then ask us for advice.

The following purchase calculators are available to help you decide:

  • How much can you borrow?
  • What is your monthly payment?
  • How much can you save by refinancing?
  • What if you reduced my loan term?

Use the Calculators

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

Fixed Rate Loans

Conforming Loans: Amounts up to $424,100.00
Product Rate Points APR
30 Year Fixed 4.000% 0 4.046%
20 Year Fixed 3.750% 0 3.814%
15 Year Fixed 3.500% 0 3.581%
10 Year Fixed 3.375% 0 3.493%

 

Conforming High Balance Loans: Amounts $424,100.01 - $636,150.00
Product Rate Points APR
30 Year Fixed 4.250% 0 4.281%
15 Year Fixed 3.875% 0 3.930%

 

Jumbo Loans: Amounts over $636,150.00
Product Rate Points APR
Jumbo 30 Year Fixed 4.000% 0 4.007%
Jumbo 15 Year Fixed 3.875% 0 3.887%

ARM Loans

Conforming Loans: Amounts up to $424,100.00
Product Rate Points APR
3/1 ARM 2.750% 0.000 2.793%
3/1 ARM (No-Cost Option)1
5/5 ARM 3.375% 0.000 3.420%
5/5 ARM (No-Cost Option)1
5/5 ARM (40-Year Term)2
7/1 ARM 3.625% 0.000 3.670%
7/1 ARM (No-Cost Option)1
7/1 ARM (40-Year Term)2 3.875% 0.000 3.912%
10/1 ARM 3.875% 0.000 3.921%
10/1 ARM (No-Cost Option)1
10/1 ARM (40-Year Term)2 4.125% 0.000 4.163%

 

Conforming High Balance Loans: Amounts $424,100.01 - $636,150.00
Product Rate Points APR
3/1 ARM 2.750% 0.000 2.779%
3/1 ARM (No-Cost Option)1
5/5 ARM 3.375% 0.000 3.405%
5/5 ARM (No-Cost Option)1
5/5 ARM (40-Year Term)2 3.625% 0.000 3.649%
7/1 ARM 3.750% 0.000 3.814%
7/1 ARM (No-Cost Option)1
7/1 ARM (40-Year Term)2 3.875% 0.000 3.900%
10/1 ARM 3.875% 0.000 3.906%
10/1 ARM (No-Cost Option)1
10/1 ARM (40-Year Term)2 4.125% 0.000 4.150%

 

Jumbo Loans: Amounts over $636,150.00
Product Rate Points APR
3/1 ARM 2.750% 0.000 2.756%
3/1 ARM (No-Cost Option)1
5/5 ARM 3.375% 0.000 3.381%
5/5 ARM (No-Cost Option)1
5/5 ARM (40-Year Term)2 3.625% 0.000 3.630%
7/1 ARM 3.625% 0.000 3.631%
7/1 ARM (No-Cost Option)1
7/1 ARM (40-Year Term)2 3.875% 0.000 3.880%
10/1 ARM 3.875% 0.000 3.881%
10/1 ARM (No-Cost Option)1
10/1 ARM (40-Year Term)2 4.125% 0.000 4.130%
Effective Date: December 13th, 2017
APR = Annual Percentage Rate

The advertised rates are based on a loan amounts up to $424,100.00 for conforming loans, $424,100.01 to $636,150.00 for high balance conforming loans and $636,150.01 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 and 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 and information on loan limits for counties other than San Mateo, San Francisco, Alameda & Santa Clara counties.

Maximum CLTV for rate and 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 unless specified. 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. The no-cost adjustable-rate mortgage (ARM) option covers all non-recurring closing costs, is available on 30-year ARM terms only, and requires a minimum loan amount of $200,000.

2 .40-year ARM terms are available for purchase first mortgages only. Refinances and equity loans excluded.

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.

There are multiple reasons to refinance.

Special Mortgage Offers

New! No-Cost ARM Option
The special No-Cost ARM helps maximize your down payment power.

Refinancing your mortgage is all about timing, and below are the most common situations that make it the right move. When the time is right, or if you have any questions about the process, contact us. SMCU provides mortgages up to $3.5 million and expert advice.

Your Current Situation Why Refinance
Interest rates have gone down since you originally took out your loan.

A lower rate for the remainder of your loan term would lower your monthly payment and save you more money than the cost to refinance.

You have an adjustable rate mortgage that will soon re-price to a higher rate.

Switching to another loan type may allow you to lock in a rate that’s lower than the new rate you would receive if your current loan re-priced.

Your credit score has increased substantially enough to qualify for a lower rate.

A lower rate for the remainder of your loan term would lower your monthly payment and save you more money than the cost to refinance.

You have major expenses or the need for debt consolidation.

If there’s equity in your home, you could cash some of that equity out to pay your expenses or pay off higher-rate debt you have elsewhere.

You have the ability to make a higher payment.

Lowering both your rate and term could save you a considerable amount of money in interest payments over the remaining life of the loan.

You need cash to put a down payment on a second/investment property. You’ve identified a smart real estate investment opportunity and cashing out some equity allows you to come up with the down payment.
You have a higher-rate second mortgage (home equity loan or line of credit). Refinancing your first mortgage could allow you to roll the second mortgage into the first, all at the lower first-mortgage rate.

Apply Now or Get a Custom Rate Quote

You don't need to already be a member to apply; youíll become one during the process!

All mortgage loans through San Mateo Credit Union are for homes in California only. Adequate property insurance required for the life of the loan. Flood insurance may be required. All loans are subject to credit approval. Please speak with a Real Estate Representative for current rates and information on loan limits as additional conditions and restrictions may apply. San Mateo Credit Union NMLS #416747.

The no-cost adjustable-rate mortgage option covers all non-recurring closing costs, is available on 30-year ARM terms only, and requires a minimum loan amount of $200,000.

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