Last Updated: 07/11/2025
State Employees' Credit Union First Time Homebuyer's Mortgage
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Last Updated: 07/11/2025
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Highlights
Credit Score Range
N/A
Amount Range
Up to $500,000
Loan Term (Years)
Up to 30
State Employees' Credit Union First Time Homebuyer's Mortgage Review
State Employees' Credit Union First Time Homebuyer's Mortgage is offered by State Employees Credit Union (NMLS #430055), a credit union founded in 1937 and based in Raleigh, NC. State Employees' Credit Union First Time Homebuyer's Mortgage are available in 5 states.
Key Takeaways
- Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
- Standard interest rates types. State Employees' Credit Union First Time Homebuyer's Mortgage only offers adjustable-rate mortgages.
- Only primary residences considered. State Employees' Credit Union First Time Homebuyer's Mortgage does not offer financing for vacation homes or investment properties.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
- Origination fee of 1%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
- High maximum LTV ratio. State Employees' Credit Union First Time Homebuyer's Mortgage has a maximum loan to value ratio of 100%, which is higher than average. Most lenders want you to have at least 20% equity.
State Employees' Credit Union First Time Homebuyer's Mortgage Pros & Cons
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State Employees' Credit Union First Time Homebuyer's Mortgage FAQ
How much can you borrow via State Employees Credit Union?
State Employees' Credit Union First Time Homebuyer's Mortgage allows borrowers to apply for loan amounts of up to $500,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.
What is the maximum loan term you can get with State Employees' Credit Union First Time Homebuyer's Mortgage?
State Employees' Credit Union First Time Homebuyer's Mortgage offers mortgages with a maximum term of 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What mortgage rates does State Employees Credit Union offer?
Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.
Do they charge mortgage origination fees?
Yes, State Employees' Credit Union First Time Homebuyer's Mortgage may charge a loan origination fee of 1% of the loan amount up to $2500 .
What property usage types does State Employees' Credit Union First Time Homebuyer's Mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. State Employees' Credit Union First Time Homebuyer's Mortgage allows the following property usage types:
- Primary home
What is the customer service phone number?
The customer service number for State Employees' Credit Union First Time Homebuyer's Mortgage is (888) 732-8562.
What is the support contact email?
The support contact email for is info@ncsecu.org.
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Hours of Operation
SundayClosedMonday8:30AM - 5:30PMTuesday8:30AM - 5:30PMWednesday8:30AM - 5:30PMThursday8:30AM - 5:30PMFriday8:30AM - 5:30PMSaturdayClosed
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Credit Score Range
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Amount Range
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N/A
Amount Range
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Credit Score Range
N/A
Amount Range
N/A
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Loan Term (Years)
Up to 30
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Credit Score Range
N/A
Amount Range
N/A
No Origination Fee
Loan Term (Years)
Up to 15
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