Skip to main content

Mortgage Loans

SUAFCU offers competitive rates on residential mortgages. Choose from a variety of mortgages:

  • 5/1 ARM
  • 7/1 ARM
  • 7 year balloon
  • 15 year fixed
  • 25 year fixed
  • 30 year fixed

Our mortgages feature no points and your rate is locked in for 60 days from application date.

Closing costs may apply.

SUAFCU offers mortgage pre-qualifications on owner-occupied, residential (non-commercial) mortgages.

Mortgage applications can be completed at any of SUAFCU's full service offices in Illinois and New Jersey.

For more information, please refer to the locations.


SUAFCU offers competitive rates on a variety of residential mortgages.

Buying A Home

Are you ready to purchase a home? We offer a variety of mortgage loans with no prepayment penalties, and you may even qualify for a low down payment.

If you are just starting to look for a home, come in and meet with one of our loan officers to get pre-qualified. Once you're pre-qualified, you can shop with confidence.

Refinancing Your Home[*]

Refinancing may be the best move for getting equity out of your home to finance an education, consolidate bills, purchase a vacation home, or to simply lower your payments.

Home Equity Line Of Credit (HELOC)[*]

You've worked hard to build equity in your home. Now you can use it for anything from home improvements to paying off debts, to financing an education. You can borrow up to 80% of your home’s value, less your remaining mortgage balance.

With a HELOC, you can borrow funds when you need them, with a competitive variable rate. No annual fees

Real Estate Investment Loans

Buying or Refinancing an Investment Property:
We offer loans on a variety of commercial-type properties

  • Rental apartment buildings, condominiums and single family homes
  • Mixed use building (residential with commercial space)
  • Vacant land
  • Other commercial properties

Construction Loans:

If you are ready to build, our experienced staff is here to help you with your financial needs.

Business Open Credit Loans (BOC):

A BOC is a revolving line of credit secured by your investment property.

For more information, contact our Mortgage Department at 888.222.8571 extension 283.

*Consult a tax advisor regarding the deductibility of interest.

Adjustable Rate Mortgage (ARM):

The 5/1 and 7/1 ARMs offer a fixed rate for the initial period of the loan and adjust to a one-year ARM after that period. The interest rate and monthly payment may adjust annually based on the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year (the index) plus a margin of 2.50 percentage points with a 2% annual change cap and a 5% life time cap.

5/1 ARM Payment for a $100,000 80% LTV loan with a 3.750% rate and 4.672% Annual Percentage Rate (APR), based on the current market condition, the payment schedule would be: 60 payments of $463 at an interest rate of 3.750% and 300 payments at $528 at an interest rate of 5.030%.

7/1 ARM Payment for a $100,000 80% LTV loan with a 4.000% rate and 4.647% Annual Percentage Rate (APR), based on the current market condition, the payment schedule would be: 84 payments of $477 at an interest rate of 4.000% and 276 payments at $527 at an interest rate of 5.030%.

Payment examples do not include taxes and insurance premiums. All SUAFCU loan programs, rates, terms and conditions are subject to change at any time without notice.

Fixed Rate Mortgages:

Mortgages available only for the following owner-occupied properties: single family residences, qualified condominiums or multi-family structures with no more than four units and up to 80% LTV. Mortgages with down payments as low as 5% (up to 95% LTV) are available only for the following owner-occupied properties: single family homes and multi-family structures up to 2 units and will require private mortgage insurance (PMI). Subject to approval of application. The stated Annual Percentage Rates (APRs) are all based on $100,000 mortgages, except for the Fixed Rate Jumbo Portfolio Mortgages which are based on $424,100 mortgages. For example, a $100,000 15 Year Fixed Rate Purchase mortgage with an 80% LTV will have a 4.221% APR and the repayment schedule will be 180 monthly payments of approximately $746. Monthly payment amount does not include any property taxes, and/or insurance premiums; the actual payment will be greater when such items are included. Mortgages available only to members and only in designated geographic locations. All SUAFCU loan programs, rates, terms and conditions are subject to change at any time without notice.

Fixed Rate Balloon Mortgages:

Mortgages with a Balloon Rate are only available for second residences up to $417,000 and Jumbo Loans between $424,100 and $1,000,000. Maximum 80% LTV. Subject to approval of application. The loan amount is amortized over 30 years, with the balance of the mortgage being due after the balloon term. The stated Annual Percentage Rate (APR) for the Fixed Rate 2nd Residence mortgage is based on a $100,000 mortgage and the APR for the Fixed Rate Jumbo Portfolio Mortgage is based on a $424,100 mortgage. For example, a $100,000 2nd residence 7 Year Balloon mortgage with an 80% LTV will have a 5.002% APR and the repayment schedule will be 84 monthly payments of approximately $529 and 1 payment of approximately $87,720 due on the loan maturity date. Monthly payment amount does not include any property taxes, and/or insurance premiums; the actual payment will be greater when such items are included. Mortgages available only to members and only in designated geographic locations. All SUAFCU loan programs, rates, terms and conditions are subject to change at any time without notice.

back to top