A new home purchase or refinance is within reach.
Our team of real estate experts will help you find a mortgage that best fits your needs and lifestyle. So, if you’re just starting your new home search, or interested in refinancing your existing home, Southland Credit Union has a variety of options for low rate home loans in Southern California.
Why you'll love Southland Home Loans
- Low rates
- We offer low rates on fixed and adjustable loans.
- Low Down Payment
- As low as 3% down for first-time home buyers.
- Expert Advice
- Discuss all your available options with one of our mortgage experts.
- Best Value Mortgage
- 5/5 ARM: Start rate as low as 3.250% for the first 5 years.*
- Options for Everyone
- Government-backed VA and FHA loans also available.
Adjustable Rate Mortgages
An Adjustable Rate Mortgage features a low rate for a fixed period of time, from three to ten years. After that, your rate may fluctuate periodically, either every one or five years.
Works best for: Adjustable Rate Mortgages are perfect for buyers who want to buy more home at a lower rate. ARMs are also ideal for homebuyers who plan to refinance or resell their home within a few years.
A Fixed-Rate Mortgage will keep the same rate for the life of the loan. Homebuyers can choose terms up to 30 years, with a fixed monthly payment.
Works best for: Fixed-Rate Mortgages are ideal for homebuyers who want a fixed payment to allow for long-term budget planning goals. A new home buyer might choose a fixed rate if they have found a home they want to live in for the life of the loan. A homeowner might refinance to a fixed rate if they are seeking more stability in their future payments.
Investment Property Loans
An Investment Property Loan for non-owner occupied and multifamily homes offers more flexibility for real estate investors. Investment Property Loans are not limited to Fannie Mae or Freddie Mac
Works best for: Investment property loans provide low rate options for real estate investors. Investment loans offer more flexibility for borrowers who plan to make property improvements.
Government-Backed Home Loans
Government-Backed Loans are mortgages that are available through the Federal Housing Association (FHA) or US Department of Veterans Affairs (VA). FHA or VA loans are designed for borrowers with a lower income or credit score, or for those who are unable to make a larger down payment. However, government-backed loans have special requirements, including the purchase of mortgage insurance which can add to your overall cost.
Works best for: Home buyers who are veterans or buyers with a limited credit history.
Home Buying Made Easy
- Mortgage Calculators
- Find out how much home you can afford.
- Home Buying & Selling Services
- Get up to a 25% commission rebate and a 20% escrow discount.
- Homeowners Insurance Discounts
- Exclusive insurance benefits for credit union members.
- Mortgage Payment Help
- Having trouble paying your mortgage? We may be able to help.
Loans are available to Southland Credit Union Members only. Credit Union Membership is subject to eligibility. Loans are subject to credit and collateral qualification, other fees and conditions may apply. Rates are subject to change without notice. Other rates may apply based on your individual credit profile. NMLS #685526.
APR=Annual Percentage Rates. The rates offered are examples, and not intended to be inclusive or a commitment to the pricing for which you may qualify. The loan and accompanying interest rates, points, and APRs may differ and be adjusted based on your credit history, loan-to-value (LTV), occupancy, property type, loan amount, and loan purpose. All loans are subject to a qualifying credit score and approval. Interest rates, points, and APRs are subject to change without notice.
ARM=Adjustable Rate Mortgage. The loan and accompanying interest rates, points, and APRs may differ and be adjusted based on your credit history, loan-to-value (LTV), occupancy, property type, loan amount, and loan purpose. Rates are subject to increase or decrease at the end of the fixed rate period, may adjust annually, and are based on an index plus a margin. The current index is the 1-Year London Interbank Offered Rate (LIBOR) as published in The Wall Street Journal. The 5 year Constant Maturity Treasury (CMT) is used as the index for the 5/5 ARM product. P&I payment is subject to change after first interest adjustment.
Southland will send Members a Loan Estimate detailing these costs within 72 hours of receiving a completed loan application. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Additional loan programs are available; ask for details. Other fees and conditions may apply.
Fixed-Rate Loans: Loan amounts vary and depend on property location and number of units. Maximum Loan Amount: Up to 95% combined loan-to-value for purchase and limited cash out. Up to 80% for cash out. 97% loan-to-value for first time homebuyers.
Jumbo Loans: Jumbo Loans are mortgages that exceed $679,650. Loan amounts vary and depend on property location and number of units. Maximum Loan Amount: Up to 75% combined loan-to-value for purchase and limited cash out. Up to 70% for cash out.