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Products
Service One Credit Union offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
Fixed-Rate Mortgages
Adjustable-Rate Mortgages (ARMs)
FHA
VA
Welcome Home Mortgage
USDA Rural Development

Fixed-Rate Mortgages
Home loans available in 10,15, 20 and 30 years terms for purchases, refinances or cash-out refinances. With fast service, no application fee, and low closing costs, our fixed rate mortgages are excellent.
 
-Only 5% down payment on purchase -Minimum credit score of 620 -No prepayment penalty -Gift Funds allowed

Adjustable-Rate Mortgages (ARMs)
Adjustable Rate Mortgages (ARMs) begin with a low rate then adjust upward or downward regularly according to an index. The are available for purchases, refinances or cash-out refinances in options of 1/1, 3/3, 5/5 and 10/10 ARMs.
 
-No Private Mortgage Insurance (PMI) -No prepayment penalty -Competitive Interest Rates -No restrictions on property or income -Local servicing -Gift funds allowed

FHA
FHA Mortgage loans insured by the Federal Housing Administration (FHA) and available for purchases, refinances or cash-out refinances in terms of 15 and 30 year fixed rate.
 
-Only 3.5% down payment required for purchases -Gift funds allowed -Minimum credit score of 620 -No prepayment penalty

VA
VA Mortgages are guaranteed by the Department of Veterans Affairs for eligible veterans and are available for purchases, Interest Rate Reduction Refinance Loan (IRRRL) or cash-out refinances in terms of 15 and 30 year fixed rate.
 
-No down payment required -Minimum credit score of 620 -No monthly Private Mortgage Insurance (PMI) -No prepayment penalty

Welcome Home Mortgage
The Welcome Home Mortgage is crafted to help first time homebuyers navigate the buying process, though can be utilized by even seasoned borrowers. The Adjustable Rate Mortgages (ARMs) in this program are designed for borrowers with minimal funds to invest. This product is available in 1/1, 3/3 and 5/5 ARMs.
 
-Up to 100% financing -Minimum credit score of 680 -No monthly Private Mortgage Insurance (PMI) -No prepayment penalty -Gift funds allowed -Not limited to first-time homebuyers

USDA Rural Development
Home loans available to those whose property and income meet USDA eligibility criteria. Available in 30 year fixed rate.
 
-No down payment required -Maximum 102% Loan-to-value (LTV) -Minimum credit score of 620 -No prepayment penalty -Not limited to first time homebuyers