Loans

SFPCU Student Loans
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Home Loans

Loan Choices

Conventional First Mortgages

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SFPCU Mortgages offer a variety of terms and options to choose from including fixed rate mortgages and adjustable rate mortgages. We offer the competitive rates and personal assistance you deserve, and the savings you're looking for.

Features and Benefits

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Fixed Mortgages - SFPCU offers multiple loans that keep your rate and payment consistent through the entire length of the term and save you money in the long run, no matter what the market does.

Fixed ARM (Fixed Adjustable-rate Mortgage) - These loans provide an interest rate that stays fixed for a period of time and then becomes adjustable based on a specific interest. Many homeowners choose this option if they are not planning to stay in their homes for an extended period of time.

Start saving quickly, and enjoy all the benefits of a mortgage from SF Police Credit Union:

  • Very competitive rates
  • A wide variety of terms including fixed, adjustable, interest-only and more
  • No hidden fees or pre-payment penalty
  • Friendly, personal service
  • Loans are available up to $1,500,000.
  • Loans are available up to 80% loan-to-value.
APR = Annual Percentage Rate. Example rate of 4.500% APR with 360 Monthly payments (30 year) = $506.69 monthly per $100,000 borrowed.

Rates and Fees

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Effective April 18, 2014
Lock Period: 45 Day

CONFORMING

Fixed LoansRateAPR*Points
30 Year Fixed Conforming4.375% 4.413% 0.000%
4.125% 4.248% 1.000%
20 Year Fixed Conforming4.125% 4.179% 0.000%
3.875% 4.042% 1.000%
15 Year Fixed Conforming3.250% 3.307% 0.000%
3.000% 3.199% 1.000%
10 Year Fixed Conforming3.125% 3.179% 0.000%
30/7 Balloon Conforming3.000% 3.019% 0.000%
ARM LoansRateAPR*Points
3/1 ARM Treasury Conforming2.625% 2.849% 0.000%
3/1 ARM LIBOR Interest Only Conforming2.625% 2.852% 0.000%
5/1 ARM Treasury Conforming2.750% 2.861% 0.000%
5/1 ARM LIBOR Interest Only2.750% 2.861% 0.000%
7/1 ARM Treasury Conforming2.875% 2.905% 0.000%
7/1 ARM LIBOR Interest Only Conforming2.875% 2.900% 0.000%

JUMBO

Fixed Jumbo LoansRateAPR*Points
30 Year Fixed Jumbo4.375% 4.413% 0.000%
4.125% 4.245% 1.000%
20 Year Fixed Jumbo4.125% 4.164% 0.000%
15 Year Fixed Jumbo3.500% 3.555% 0.000%
3.250% 3.448% 1.000%
ARM LoansRateAPR*Points
3/1 ARM Treasury Jumbo2.750% 2.871% 0.000%
3/1 ARM LIBOR Interest Only2.750% 2.871% 0.000%
5/1 ARM Treasury Jumbo2.875% 2.899% 0.000%
5/1 ARM LIBOR Interest Only Jumbo2.875% 2.895% 0.000%
7/1 ARM Treasury Jumbo3.000% 2.957% 0.000%
7/1 ARM LIBOR Interest Only Jumbo3.000% 2.947% 0.000%
ARM IndexesConforming Loan Limits
Prime**3.250%1 - Unit$417,000.00
COFI0.709% February 20142 - Unit$533,850.00
1-Year T0.10% weekly3 - Unit$645,300.00
0.13% monthly4 - Unit$801,950.00
1-Year LIBOR

0.549% year

Click Here for High-cost Area Limits    

*APR = Annual Percentage Rate. Example rate of 4.500% APR with 360 Monthly payments (30 year) = $506.69 monthly per $100,000 borrowed. The APRs listed are for illustrative purposes only; your actual APR may vary and will be determined when a credit decision is made. Adjustments may apply based upon credit history, occupancy, property type, loan-to-value percentage, and transaction type. No pre-payment penalty on early payoffs of loans. Rates, Terms and conditions are subject to change without notice.
Maximum combined Loan-to-value for owner-occupied properties is 80%. Maximum combined Loan-to-value for investment properties is 75%.
INVESTMENT PROPERTIES: For current rates & pricing, please contact our Financial Services Real Estate Officers at (415) 564-3800 or email us mortgages@sfpcu.org.
**As of March 1, 2012, the Prime Rate is 3.25%.

Apply Now

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Applying is easy. To get started, you can choose to apply any one of the following ways:
  1. Complete the Online Loan Application - Apply Online 
  2. Call us at 800.222.1391.
  3. Apply in person by visiting a Financial Services Loan Representative at any of our branch locations.

Not a current SFPCU member? Click here for information on how to become an SFPCU member. Please note: You must establish SFPCU membership prior to loan funding.

Home Equity Line of Credit

SFPCU's Home Equity Line of Credit (HELOC) features a fixed introductory rate option. Our terms are great, our service unbeatable, and our rates are hot. Don't miss out! Our HELOC gives you the flexibility to cover college expenses, consolidate high-rate debt or simply be ready for anything that might come up.

Features and Benefits

  • 3.50% APR* 2 year fixed introductory rate
  • Rates as low as 4.00% APR* variable rate thereafter
  • Credit limits from $10,000 to $300,000
  • Borrow funds as you need, up to your credit limit
  • No application fees and quick approval process
  • Possible tax savings (consult your tax advisor)
  • Free checks for easy access to funds
*APR=Annual Percentage Rate. The fixed introductory rate is 3.50% APR for the first 24 months and valid on Owner Occupied Properties only (Investment properties are not eligible). Rates thereafter based on Prime + margin %. As of March 15, 2012, the Prime Rate is 3.25%. The amount of the margin may vary, depending upon individual credit history, loan to value ratio and other factors. 

Rates and Fees

Home Equity Line of Credit

Effective March 3, 2014

Owner Occupied Properties
$10k - $300k
Investment Properties
$10k - $300k
Draw/Repay
Period
APR Draw/Repay
Period
APR
10-Year/20-Year3.500%*/Prime + Margin10-Year/20-YearPrime + 1.000%**

Owner Occupied:* The fixed introductory rate is 3.50% APR for the first 24 month and valid on Owner Occupied Properties only (Investment properties and/or the refinancing of an existing HELOC secured by same property are not eligible). As of March 15, 2012, the Prime Rate is 3.25%. Rates thereafter based on Prime + Margin ; The amount of the margin may vary, depending upon individual credit history;  Quarterly adjustments; January, April, July, October; Floor Rate 4.00%; Ceiling Rate 15%; Maximum Combined Loan-to-value 80% Owner-occupied; A $100 inactivity fee will be imposed if the balance is $0.00 for 12 consecutive months. Administration fee: $250 if line closed within 1 year. Property insurance is required; flood insurance may be required. SFPCU will pay the flood determination, tax service, credit report and deed of trust recording fees only. The applicant will pay for all other fees, including the appraisal and title fees. Typical fees range from $200 - $1,600. Offer good for primary and second homes in California.
Investment Properties (Non-owner Occupied): **Rate based on Prime + 1.00% Margin. As of March 15, 2012, the Prime Rate is 3.25%. The amount of the margin may vary, depending upon individual credit history; Quarterly adjustments; January, April, July ,October; Floor Rate 4.00%; Ceiling Rate 15%; Maximum Combined Loan-to-value 75% Non-Owner-occupied; A $100 inactivity fee will be imposed if the balance is $0.00 for 12 consecutive months. Administration fee: $250 if line closed within 1 year. Property insurance is required; flood insurance may be required. SFPCU will pay the flood determination, tax service, credit report and deed of trust recording fees only. The applicant will pay for all other fees, including the appraisal and title fees. Typical fees range from $200 - $1,600.

Apply Now

Ready to Apply?
Apply Online

If you have additional questions please call us at 800.222.1391.

Home Equity Loan

A Home Equity Loan can be an effective way to consolidate debt, make home repairs, or finance other necessary expenses. The low interest rate, coupled with a possible tax break, could make it one of the least expensive borrowing options available.

Features and Benefits

An SFPCU home equity loan allows you to borrow a lump sum to be paid back in monthly installments over a specified period. This loan option is best for major purchases or one-time expenses.

And the benefits really add up:

  • Low fixed rates available
  • Potential tax savings - the interest you pay may be tax deductible (consult your tax advisor for details)
  • Fixed monthly payments
  • Generous amounts - Borrow as little as $20,000 or up to $300,000 
  • Easy payment options such as payroll deduction available
*APR = Annual Percentage Rate. Example rate of 5.750% APR with 60 monthly payments (5 Year) = $192.17 monthly per $10,000 borrowed.

Rates and Fees

Home Equity Loan

Effective March 3, 2014

5 Year7 Year10 Year15 Year
RateAPR*45 DayRateAPR*45 DayRateAPR*45 DayRateAPR*45 Day
4.5004.683Cost4.8755.019Cost5.0005.106Cost5.5005.582Cost

*APR = Annual Percentage Rate. Example rate of 5.750% APR with 60 monthly payments (5 Year) = $192.17 monthly per $10,000 borrowed.
Loan limits $20,000 - $300,000. Rates apply to owner occupied properties only. Maximum combined Loan-to-value is 80%. Investment properties will have additional pricing adjustments; please call for a quote.

Apply Now

Applying is easy. To get started, you can choose to apply any one of the following ways:
  1. Complete the Online Loan Application - Apply Online 
  2. Call us at 800.222.1391.
  3. Apply in person by visiting a Financial Services Loan Representative at any of our branch locations.

Not a current SFPCU member? Click here for information on how to become an SFPCU member. Please note: You must establish SFPCU membership prior to loan funding.

VA/FHA Loans

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SFPCU is pleased to offer Federal Housing Administration (FHA) and Veterans Administration (VA) mortgage loans through a strategic partnership with CUPartners.

Features and Benefits

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FHA loans: An FHA Mortgage loan might be just the option you’ve been looking for to help you purchase a home of your own, or refinance at a lower rate. FHA provides safe mortgage loans that are backed by the federal government with easier qualifying options.

  • Down payment of gift funds acceptable
  • More flexibility in qualifying
  • Low fixed rates
  • May have non-occupant co-borrower
  • No prepayment penalty

VA loans: VA Mortgages are guaranteed by the Department of Veterans Affairs for eligible veterans.

  • 100% financing is available in most cases
  • No monthly mortgage insurance to pay
  • Low fixed rates available
  • Low closing costs

Who Can Participate?

  • Veterans
  • Current members of all branches of the military
  • Surviving spouses of military personnel

Learn More

Mortgages Outside California

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SFPCU has partnered with CUPartners to assist you with your mortgage loan needs outside of the state of California. Together we can help you achieve your dream of owning your first home, refinancing, or purchasing a vacation home.

Features and Benefits

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This partnership expands our mortgage loan products to meet our members’ needs with the following:

  • Minimal to no down payment options
  • Very competitive rates
  • First time homebuyers welcome
  • No hidden fees or pre-payment penalty
  • Friendly, personal service

Our trusted partners can assist you with a mortgage in the following states:

  • Arizona
  • Colorado
  • Florida
  • Hawaii
  • Idaho
  • Illinois
  • Nevada
  • North Carolina
  • North Dakota
  • Oregon
  • Texas*
  • Utah
  • Virginia
  • Washington

Additional states or changes on currently approved states may apply.

*no-cash out refinances only on homestead / primary residences; cash out refinances permitted on second home & investment properties.

Learn More

Reverse Mortgages

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With a Reverse Mortgage you can live life on your own terms, pay off debts and plan a secure retirement.

Features and Benefits

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Reverse Mortgages allow seniors 62 years and older to spend their home equity without selling their home, giving up the title, or taking on a new monthly mortgage payment. No repayment is required until the borrower(s) no longer use the home as their principal residence.

There are many benefits to consider:

  • Produces tax-free income*
  • You will continue to own your home
  • No monthly payments (the lender pays you)
  • No application fees
  • Doesn’t affect Social Security or Medicare benefits
  • No restrictions on how you spend this money
  • Most loans are government insured
  • No prepayment penalty
* Proceeds from a Reverse Mortgage are tax free but borrowers should seek tax advice on how proceeds may affect government needs-based programs such as Medicaid and Medi-Cal.
SF Police Credit Union offers Reverse Mortgage through a strategic partnership with California Reverse Mortgage Consultants, Member of the National Reverse Mortgage Lenders Association. CA DRE 01524732 NMLS 248216

Learn More

Compare Loans

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  Conventional First Mortgages  Home Equity Line of Credit (HELOC) Home Equity Loan VA/FHA Loans Mortgages Outside California Reverse Mortgages
Fixed Rates

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Adjustable Rates

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Interest-Only Rates

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No Fees

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No Prepayment Penalty

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Potential Tax Benefits For Homeowner

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No Monthly Payments

 

 

 

 

 

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No or Low Down Payment Required

 

 

 

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Good For First-Time Homebuyers

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100% Financing Available

 

 

 

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