Mortgage Loan Rates
Where can I find current SLCCU first mortgage loan rates?
First mortgage loan interest rates can be found in our Mortgage Center or by clicking here. Rates are subject to change at any time and will vary based on property type, credit score, and other factors.
How do I know what my interest rate will be?
Once you have completed an application, we can provide an updated rate based upon your credit and the overall application. Until the loan type, property and its value have been confirmed, rates are unable to be locked.
The interest rate for the second mortgage lien for Affordable Seconds home purchase loans will vary based on the interest rate for the first mortgage.
Can my interest rate change after applying?
Yes! Mortgage rates can vary throughout the day and are subject to change based on market conditions, until your rate is locked. Locking in an interest rate protects you from increasing market rates from the time your lock is confirmed, unless it expires before your loan is closed.
When can I lock my rate?
Your rate can be locked once you have completed an application, finished the steps below and your application has been submitted by us to Carrollton Bank.
Purchasing a Home
ü You have provided all required income and asset documentation.
ü You have an accepted sales contract on a specific property.
ü You have signed the initial loan disclosures issued to you by Carrollton Bank.
ü Your application deposit is processed by Carrollton Bank.
ü An appraisal has been completed to determine the property value.
Refinancing a Home
ü You have provided all required income and asset documentation.
ü You have signed the initial loan disclosures issued to you by Carrollton Bank.
ü Your application deposit is processed by Carrollton Bank.
ü An appraisal has been completed to determine the property value.
Is there a fee to lock my rate?
No. There is no cost to lock your interest rate.
How long is the rate lock good for?
- We currently offer 30, 45, 60, and 90 day rate locks.
- Your rate must be locked 10 days prior to closing.
- Your loan must be closed and disbursed during the rate lock period.
- Rate lock extensions due to delays in closing may result in additional closing costs.