Mortgage Loan

Looking to buy a new home or refinance an existing mortgage? You can count on us for the best rate possible. We know that behind every mortgage is a real person looking to buy a home where memories will be made. Whether it's your first or fifth home, you can count on us for exceptional service and the best loan rate possible.

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At Securityplus, our mission is to set a high standard in the residential lending industry. If you're looking to buy a new home, our Mortgage team will assist you through every step of the process – from start to finish.

When you're ready to begin the mortgage process, complete a "Mortgage Quick Request" and a Mortgage Loan Officer will contact you within one (1) business day.

Mortgage Quick Request

Questions? Contact our Mortgage Department

Mortgage Lending Department

NMLS #: 653573

Securityplus Federal Credit Union

7135 Windsor Boulevard

Baltimore, MD 21244

Office: 410-281-6236

Fax: 410-281-6277

mortgages@securityplusfcu.org

Conventional Fixed-Rate Mortgages

Conventional Fixed-Rate Mortgages

Conventional Fixed-Rate mortgages give you the stability of fixed monthly payments. We offer conforming fixed-rate mortgages, typically up to $726,200, and jumbo fixed-rate mortgages, over $726,200. Features include:

10, 15, 20, and 30 year terms with fixed monthly payments
Offer programs for investment, primary, and secondary residences
Low Private Mortgage Insurance (PMI) rates
Down payment requirements as low as 3% - 5% for qualified purchase borrowers
Seller contribution between 3% - 9%
Refinance options are available
No pre-payment penalties

Conventional Adjustable Rate Mortgages (ARMs)

Conventional Adjustable Rate Mortgages (ARMs)

Adjustable-Rate Mortgages (ARMs) begin with a low, fixed rate, and then adjust upward or downward after the initial fixed term. ARM mortgages contain two numbers. The first number refers to the number of years the interest rate at closing remains fixed. The second number is the number of years in between interest rate changes after the initial fixed term expires. Features include:

3/1, 5/1, 7/1, and 10/1 mortgage options
Lower fixed-rate loan payments for the initial term
Low Private Mortgage Insurance (PMI) rate
Down payment requirements as low as 5% for qualified purchase borrowers
Seller contribution between 3% - 9%
Refinance options are available
No pre-payment penalties

VA Mortgage Loans

VA Mortgage Loans

Qualified veterans, reservists, and active duty personnel and spouses with a valid Certificate of Eligibility (COE) can take advantage of 100% financing options with a VA Mortgage, guaranteed by the Department of Veterans Affairs. The property must be occupied by the veteran as his/her primary residence. Features include:

Finance options up to 100% / No down payment requirement
Fixed rate
Maximum loan amounts determined by property location
No Private Mortgage Insurance (PMI) or Upfront Mortgage Insurance Premium (UMIP) required
Seller contributions up to 4% are allowed
Maximum loan amount equal to the conforming loan limit
Refinance options available
No pre-payment penalties

FHA Mortgage Loans

FHA Mortgage Loans

A great low-cost mortgage option for those planning to purchase a new home and/or refinance their existing mortgage loan, guaranteed by the Federal Housing Administration. This mortgage option is great for first-time home-buyers. The property must be occupied by the borrower as his/her primary residence. Features include:

Finance options up to 96.5% / 3.5% down payment requirement
Fixed and adjustable rate options available
Maximum loan amounts determined by property location
Seller contribution up to 6%
Non-occupying co-borrowers allowed on purchase and rate/term refinance loans to strengthen the application
Upfront Mortgage Insurance Premium (MIP) may be financed in the loan
No pre-payment penalties
Loan(s) to 100% of total investment with gift from an eligible source
Refinance options available

USDA Mortgage Loans

USDA Mortgage Loans

A great low-cost mortgage option for those planning to purchase a new home and/or refinance their existing mortgage loan, in rural and some suburban areas, guaranteed by the United States Department of Agriculture. The property must be occupied by the borrower as his/her primary residence. Features include:

Finance options up to 100% / No down payment requirement
Maximum loan amount is $726,200
Not limited to first time home-buyers
No assets/reserves requirement
Closing costs and pre-paid items can be financed into loan amount up to the approved value
One-time guarantee fee may be financed above the appraised value
Refinance options available
No pre-payment penalties

Questions? Contact our Mortgage Department

Mortgage Lending Department
NMLS #: 653573
Securityplus Federal Credit Union
7135 Windsor Boulevard
Baltimore, MD 21244
Office: 410-281-6236
Fax: 410-281-6277
mortgages@securityplusfcu.org

Purchasing a home may the largest single financial investment you’ll make during your lifetime. To help make your home ownership a reality, Securityplus offers home buying grants available to eligible homebuyers through our partnership with the Federal Home Loan Bank of Atlanta.

If you are a first time homebuyer, a veteran, work within a specified profession, or are a COVID related essential worker, you may be eligible for a home buying grant.

First Time Home Buyer

First Time Home Buyer

Securityplus offers a grant amount up to $12,500 per household to first-time home buyers for funding down payment or closing costs. To be eligible for the grant, the first-time home buyer must meet these guidelines:

Household income must be equal to or less than 80% of median incomeOpens in New Window as developed by the U.S. Department of Housing and Urban Development, adjusted for family size.
Contribute a minimum of $1,000 toward the purchase of the home
Occupy the home as a primary residence for at least five years

Funding is available for owner-occupied homes located within the United States and its territories. FHLB funds for home buying grants are available on a first-come, first-served basis until depleted each year.

Community Partners

Community Partners

Securityplus offers a grant amount up to $15,000 per household for funding home down payment or closing costs to current or retired law enforcement officers, educators, health care workers, firefighters, and other first responders; veterans or active-duty members of the U.S. military or their surviving spouse, and COVID-related essential workers that are first-time home buyers or non-first-time home buyers. To be eligible for the grant, these specified home buyers must meet these guidelines:

Household income must be equal to or less than 80% of median incomeOpens in New Window as developed by the U.S. Department of Housing and Urban Development, adjusted for family size.
Contribute a minimum of $1,000 toward the purchase of the home
Occupy the home as a primary residence for at least five years

To learn more about down payment and closing cost assistance* options, call 410-281-6236 to speak with a Securityplus Mortgage Officer.

When you are ready to begin the mortgage process, complete a "Mortgage Quick Request” and a Mortgage Loan Officer will contact you within one (1) business day.

Mortgage Quick RequestOpens in New Window

*Down payment and closing cost assistance amount may be due upon sale, refinance, transfer, repayment of the loan, or if the senior mortgage is assumed during the term of the loan. Some programs require repayment with interest and borrowers should become fully informed prior to closing. Not all applicants will qualify. Minimum credit scores may apply. Sales price restrictions, property location restrictions, and income requirements may apply. Home buyer education may be required. The subject property must be your primary residence. Maximum loan amounts may apply.

When you're ready to apply for your mortgage, gather the items that pertain to you on the Needs List and complete the mortgage application. Submit your completed application package via email to mortgages@securityplusfcu.org.

You may also submit your application at your local branch, or by mailing it to the address below. Once your application is received, a Mortgage Loan Officer will contact you within one business day. Mortgage Rates.

Mortgage Lending Department
NMLS #: 653573
Securityplus Federal Credit Union
7135 Windsor Boulevard
Baltimore, MD 21244
Office: 410-281-6236
Fax: 410-281-6277
mortgages@securityplusfcu.org

Download Full ApplicationOpens in New Window

The Needs List

Please provide all of the following information and documents for all borrower(s) with your loan application. Remember to keep all current and future pay-stubs, bank statements, and other related documents. Don't throw anything away until after your loan settlement.

Income Requirements:

Clear copies of your latest (3) pay-stubs.
Clear copies of your previous (2) years W-2’s or 1099’s.
For retirees, a clear copy of your monthly retirement annuity statement.
If self-employed, or if you receive commissions, bonuses, rental income, or dividend/interest income, clear copies of your previous (2) years federal tax returns with ‘all’ schedules.
If you own investment/rental properties, copies of your current rental lease agreement(s).
If you receive any other form(s) of income, provide supporting legal documentation.
If you plan on renting your present residence, provide a clear copy of your new rental lease agreement.

Asset Requirements:

Clear copies of your (2) latest bank/financial statements.
1. Checking & Savings Accounts
2. Money Market Accounts
3. Equities or Stocks
4. Certificate of Deposit Accounts
5. Any other Bank or Investment Accounts
For retirement accounts, a clear copy of your latest quarterly statement.
For bonds, clear copies of a ''redemption receipt/statement'' and a ''deposit receipt''.
For gifts, we will provide you with a Gift Letter and review instructions on required documentation.
For other owned properties, clear documentation of any liens, homeowner’s insurance policies, and real estate taxes.

Employment & Home Requirements:

Employment history for the past (2) full years, including employer’s name, current address, current phone & fax numbers, contact person for verification purposes, hire date, and monthly income.
If you have been employed, with your present employer, for less than (2) full years, we will need the above information for your previous employer.
Home address history for the past (2) full years with home & cell contact numbers.
If you've been living at your current address for less than (2) full years, we will need your previous address information.

Miscellaneous Legal Documentation Requirements:

If you are separated or obligated to pay alimony, child support, or separation maintenance, we will require a completed & signed separation agreement, divorce decree, or any other related legal documents.
If you had a Bankruptcy or Foreclosure, provide official documentation of initial action and current status like: discharge papers, dismissal, or trustee repayment plan.
If you have co-signed for someone else to obtain a loan, provide proof that the other party is the primary borrower and the last 12-months consecutive cancelled checks showing that the other party has been solely repaying the obligation. Other documentation may be needed.

Purchase Transactions Specific:

A clear copy of a fully executed sales contract with ‘all’ addendums.
Contact information for both buyer’s & seller’s Real Estate Agents.
Contact information for a licensed Title Company. (Credit Union has the right to decline your selection.)
A clear copy of a new homeowner’s insurance policy. (1st Time Homebuyers normally use their car insurance company)
If you plan to sell your present home, provide the listing agreement, net proceeds estimate, a sales contract (if already sold), and a HUD-1/Settlement Sheet (if settled).

Refinance Transactions Specific:

Clear copies of your latest mortgage monthly bill(s)/statement(s) for all lien(s) against your property.
A clear copy of your homeowner’s insurance policy. If you are in a flood zone, a clear copy of your flood insurance policy.
Documentation disclosing your property taxes amount(s).
For bill consolidations, clear copies of ‘all’ monthly bills.

Condominium Requirements: Purchase & Refinance Transactions

Contact information for your condominium association.
A copy of your condominium budget & bylaws.
Monthly condominium fee amount.
A copy of your interior/condominium homeowner’s insurance policy.

When you are ready to begin the mortgage loan process, please download and complete the Mortgage Loan Application and return it (along with the above items) to the nearest Securityplus FCU location or email/mail your package directly to our Mortgage Lending Department.

If you have any concerns or questions, contact the Mortgage Lending Department directly.

Mortgage Lending Department
NMLS #: 653573
Securityplus Federal Credit Union
7135 Windsor Boulevard
Baltimore, MD 21244
Office: 410-281-6236
Fax: 410-281-6277
mortgages@securityplusfcu.org

Calculators

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Contact Mortgage Services

Ready to apply? Start Your ApplicationOpens in New Window

Mortgages

Questions? Contact our Mortgage Department

Conventional Fixed-Rate Mortgages

Conventional Adjustable Rate Mortgages (ARMs)

VA Mortgage Loans

FHA Mortgage Loans

USDA Mortgage Loans

Questions? Contact our Mortgage Department

First Time Home Buyer

Community Partners

The Needs List

Calculators

Owning a Home

Considering Homeownership

Reverse Mortgages

Buying a Home

Mortgages

Mortgage Relief

Investment Property

Should I Refinance My Mortgage?

Starting Out

Saying "I Do"

Unexpected Hardship

Expanding the Family

Venturing Out

Retirement

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