What is a Cooperative credit union?
- Meet Your Watchdog!
- Newsletters
- Community
- Hero Loans
- Events
- Help
- Current Fraud Alerts
- Frequently Asked Questions
- Check Loan/Account Application

Accessible Menu - Main Menu - Checking & Savings
- Mortgages
- Loans
- Credit Cards
- Services

- Compare Checking Accounts
- Free Checking
- Interest Checking
- Student Checking
- Health Savings Checking

- Compare Savings Accounts
- Regular Savings
- Money Market
- My Way Savings
- SCCU Savings Cents
- Youth Savings
- Christmas Club Savings

- Zelle ®- Certificates of Deposit (CDs)

- Debit Card Services

- IRA Options
- Individual Retirement Accounts (IRAs).
- IRA CDs

- Switch Kit

- Existing Account Help.
- Order Checks

SCCU Routing Number: 263177903

use your SCCU Visa & reg; Debit

Card.
- Mortgage Products.
- No Deposit Mortgage.
- Hero Loans.- No Closing Costs Mortgage.- Conventional Fixed-Rate Mortgages.
- Construction-to-Permanent Loans.
- FHA Home Loans
.- VA Mortgage.

- Jumbo Home Loans.
- Condo Loans. -Adjustable-Rate Mortgage.- Lot Loans -Home Equity Loans.- Home Equity Line of Credit.- Fixed-Rate Home Equity Loan( 2nd Mortgage )- Mortgage Refinance- Home Buying Center -Estimate My

Mortgage Payment -Express Mortgage Originators - Existing Mortgage Help.
- Escrow Assistance. -Filing a Home Insurance Claim.- HELOC Credit Card Account Access- Check Mortgage Application Status

- Check Home Equity

Application Status All New 10/1 ARM- Auto/Vehicle Loans.- Auto Loan Pre-Approval. -Auto Loan Refinance- Recreational Vehicles.- Boat and RV Loans

. -Motorcycle & Scooter Loans - Personal Loans.
- Share Loans

& CD Secured Loans.- Signature Personal Loans- Auto Buying Center -Request More Product Info- Existing Auto Loan Help.

- Skip Your Auto Payment- Rates. -Hero Loans Our Car Buying Center uses pointers to make your experience as simple as

possible.
- Credit Cards.
- Visa Signature ®.
- Visa ® Platinum
. -Visa ® Low Rate

. -Visa ® Secured.- Visa ® Student- Report a Lost or Stolen Card- Manage Cards -Existing Visa ® Credit

Card Help -Travel Notice

& Tips -TCM Bank MasterCard Access- Rates

- Check Application Status

With low variable rates, digital wallet payment alternatives, and no yearly fees, members conserve more with an SCCU Visa & reg; charge card.

- Digital Banking.
- Electronic banking.
- Mobile Banking.
- Digital Wallet.
- Mobile Wallet Loan Payments.
- Zelle ®- Insurance.
- Auto Insurance & Extended Warranty.
- TruStage Auto & Home Insurance.
- Credit Life & Disability

- Business Services

- Financial Wellness.
- Fraud Prevention Center.
- Financial Calculators.
- Articles

- Member Discounts

with Mobile Deposit in the SCCU Mobile app.

- Checking & Savings - Compare Checking Accounts.
- Free Checking.
- Interest Checking.
- Student Checking.
- Health Savings Checking.
- Compare Savings Accounts.
- Regular Savings.
- Money Market.
- My Way Savings.
- SCCU Savings Cents.
- Youth Savings.
- Christmas Club Savings.
- Zelle ®
. -Certificates of Deposit (CDs).
- Debit Card Services.
- IRA Options.
- Individual Retirement Accounts (IRAs).
- IRA CDs.
- Switch Kit.
- Rates.
- Existing Account Help.
- Order Checks.
- Check Application Status

- Mortgage Products.
- No Down Payment Mortgage.
- Hero Loans.
- No Closing Costs Mortgage.
- Conventional Fixed-Rate Mortgages.
- Construction-to-Permanent Loans.
- FHA Home Loans.
- VA Mortgage.
- Jumbo Home Loans.
- Condo Loans.
- Adjustable-Rate Mortgage.
- Lot Loans.
- Home Equity Loans.
- Home Equity Line of Credit.
- Fixed-Rate Home Equity Loan (2nd Mortgage).
- Mortgage Refinance.
- Home Buying Center.
- Estimate My Mortgage Payment.
- Express Mortgage Originators.
- Existing Mortgage Help.
- Escrow Assistance.
- Filing a Home Insurance Claim.
- HELOC Charge Card Account Access.
- Rates.
- Check Mortgage Application Status.
- Check Home Equity Application Status

- Auto/Vehicle Loans.
- Auto Loan Pre-Approval.
- Auto Loan Refinance.
- Recreational Vehicles.
- Boat and RV Loans.
- Motorcycle & Scooter Loans.
- Personal Loans.
- Share Loans & CD Secured Loans.
- Signature Personal Loans.
- Auto Buying Center.
- Request More Product Info.
- Existing Auto Loan Help.
- Skip Your Auto Payment.
- Rates.
- Hero Loans.
- Check Application Status

- Credit Cards.
- Visa Signature ®.
- Visa ® Platinum.
- Visa ® Low Rate.
- Visa ® Secured.
- Visa ® Student. -Report a Lost or Stolen Card.
- Manage Cards.- Existing Visa ® Credit Card Help.
- Travel Notice & Tips.
- TCM Bank MasterCard Access.
- Rates.
- Check Application Status

- Digital Banking.
- Electronic banking.
- Mobile Banking.
- Digital Wallet.
- Mobile Wallet Loan Payments.
- Zelle ®.
- Insurance.
- Auto Insurance & Extended Warranty.
- TruStage Auto & Home Insurance.
- Credit Life & Disability.
- Business Services.
- Financial Wellness.
- Fraud Prevention Center.
- Financial Calculators.
- Articles.
- Member Discounts

- Schedule Appointment.
- Locations.
- Financial Wellness.
- Careers.
- About Us - Organization - SCCU History.
- What is a Cooperative credit union?
- Meet Your Watchdog!
- Newsletters

- Community - Hero Loans.
- Events

- Help - Current Fraud Alerts.
- Frequently Asked Questions.
- Check Loan/Account Application

- By Phone:.
Brevard: 321-752-2222.
Broward: 954-704-5000.
Miami-Dade: 305-882-5000.
All Other Areas: 800-447-7228

Member Service Center.
Mon - Fri: 8am to 8pm.
Sat: 9am to 5pm

Express Services.
Mon - Fri: 8am to 7pm.
Sat: 9am to 2pm

- Report a Lost or Stolen Card.
- Additional Contact Information.
- Check Loan/Account Application

Scam Alert! Don't offer your details. SCCU will NEVER call, text, or email you to demand sensitive info, such as your Online Banking passwords or account/card numbers. Discover more.

1. Personal.
2. Mortgage Products.
3. Adjustable-Rate Mortgage

Adjustable-Rate Mortgage

Take advantage of lower initial payments and begin building equity

SCCU provides a range of Adjustable-Rate Mortgages (ARMs) to assist you begin building equity while enjoying a lower rate and payment up front. Since ARM rates and payments can go lower or higher in the future, you'll require to completely comprehend how they work. We'll work with you to identify what alternative is best for your circumstance. Our experienced mortgage officers can describe the details so that you'll feel confident with your ARM.22

Product Features

- As much as 95% Financing16

- More Flexible Terms, with Lower Initial Interest & Payment

- Alternatives that Offer Adjustment after 5, 7, or 10 years22

- Ability to Convert to a Fixed Rate Loan

- Affordable Housing Program Available

- Fast Pre-qualification Decisions, Online or Over the Phone.
- No Intangible Tax21.
- SCCU Member Service for the Life of the Loan.
- SCCU Rates Of Interest Guarantee18

Up to thirty years

None

$ 1,100 plus.25% of loan amount

No Closing Costs; Jumbo; Construction

- Calculators.
- Home Buying Center.
- Other Mortgage Options.
- SCCU Owners' Manual.
- Mobile Banking.
- Online Banking.
- How Adjustable-Rate Mortgages Work (+ Pros and Cons)

How do I apply for an adjustable-rate mortgage with SCCU?

You might use online or connect to us.

An adjustable-rate mortgage-also referred to as an ARM or variable rate mortgage-is a mortgage that has a rate of interest that can increase or down at specified time periods. Typically, an ARM starts with a rates of interest that's lower than the rates of interest on a comparable fixed-rate mortgage for a specified period. When that time period ends, the interest rate may alter, which may change the quantity of your regular monthly payment.

At SCCU, we offer a variety of ARMs to match our members' needs, consisting of alternatives that use rate change after 5, 7, or 10 years22. For example, a 5/1 ARM has a fixed rate of interest for the first five years of the loan. After the initial five-year duration, the rate of interest and payment may adjust every 12 months. The rate of interest can't increase or decrease more than 2 percent at one adjustment and can't increase more than 5 percent over the life of the loan. To learn more, please connect to us.

What are the downsides of an ARM loan?

Adjustable-rate mortgages (ARMs) are not for everybody, but the bright side is that debtors have a vast array of mortgage types from which to select. If you are thinking about an ARM loan, however, it's crucial to understand a few of the prospective downsides:

- Adjustable-rate mortgage rates can and are most likely to change over the life of the loan. An ARM rate may be low for a preliminary period but might increase afterwards.
- Some adjustable-rate mortgages include prepayment penalties, so you will wish to ask possible lending institutions for a clear response on this.
- Some adjustable-rate mortgages will have a balloon payment at maturity, which might be a significant amount of cash.

What are adjustable-rate mortgage modification caps?

Adjustable-rate mortgages have caps, or limits, on how much the interest rate can increase from one change date to the next. These modification caps secure debtors from severe modifications in rates. Lenders may have three types of caps:

- The preliminary change that takes place after the preliminary fixed-rate term is reached
- Subsequent change caps that control how much the rate can increase at one time in change periods that follow the first change
- A cap on the modification for the life of the loan, or what the total interest rate boost will ever be

What is an ARM loan modification period?

Typically, the month-to-month payment and rates of interest on adjustable-rate mortgages change at defined periods, such as on a monthly basis or year or every 3, 5, or 7 years. The length of time in between each interval-at which time the interest rate can be adjusted-is called the change period.

What concerns should debtors ask about adjustable-rate mortgages?

Securing a mortgage of any type is frequently one of the largest financial transactions the majority of people will make, so making the effort to ask potential lenders the best concerns is very important. To ensure you comprehend the regards to an adjustable-rate mortgage, ask lending institutions these questions:

- What is the preliminary interest rate and how long does it apply?
- How typically will my rates of interest be adjusted?
- What is the index that the ARM rate is based on?
- What is the lender's margin (an extra quantity that lending institutions contribute to the index rate)?
- How high or low could the interest rate go?
- What is the cap on the payment?
- Is there a charge for settling the loan early?
- If there is a balloon payment, when would it be due and how much would it be?
- Does the preliminary month-to-month payment consist of taxes and insurance?

Which is better: A fixed- or adjustable-rate mortgage?

Each kind of mortgage has its advantages and disadvantages, and eventually, the mortgage that's much better is the one that's best for you. Here are a couple of things to think about when weighing your home funding options: Adjustable-rate mortgages are at first based on short-term rates of interest that are usually lower than interest rates on fixed-rate mortgage. That means ARM rates may initially provide lower monthly payments and might offer you the opportunity to buy a more pricey home. But, after the preliminary rate duration, your rate could alter, affecting your regular monthly payment. There are also more types of variable-rate loans, so you may have more choices when searching for home financing that fulfills your individual needs.

The most essential benefits of fixed-rate mortgages consist of knowing exactly what your regular monthly home payments will be over time and that you will not have any unpleasant interest rate surprises in the future. Fixed-rate mortgages are likewise simpler and simpler to comprehend.

Contact our Express Services team to get more information about all of the mortgage options SCCU provides our members.

Who should think about an adjustable-rate mortgage?

ARM loans might be the right option for your loaning requires if:

- Your income is presently enough or is most likely to increase enough for you to be able to comfortably make higher month-to-month payments need to your ARM rates of interest boost at any change duration.
- You plan to remain in your home for just a few years, so the possibility of paying higher month-to-month payments in years to come is not an issue.

- Yes
- No

MORTGAGE: Mortgage loans are come from by Space Coast Credit Union, and are subject to credit approval, confirmation and collateral evaluation. Programs, deals, rates, terms, and conditions go through alter or cancel without notification. Certain limitations apply.

These mortgage loan programs make up very first mortgage liens secured by the home and residential or commercial property. Your down payment is determined by the Loan-to-Value ratio. (90% LTV = 10% down payment) Loans surpassing 80% of the assessed value of the home need personal mortgage insurance. Member accountable for any funds needed for closing costs and pre-paid escrow.

- Compare Checking Accounts
- Compare Savings Accounts
- Zelle ®
. -Certificates of Deposit (CDs).
- Debit Card Services.
- IRA Options.
- Switch Kit.
- Rates.
- Existing Account Help.
- Check Application Status

- Mortgage Products.
- Home Equity Loans.
- Mortgage Refinance.
- Home Buying Center.
- Estimate My Mortgage Payment.
- Express Mortgage Originators.
- Existing Mortgage Help.
- Rates.
- Check Mortgage Application Status.
- Check Home Equity Application Status

- Auto/Vehicle Loans.
- Recreational Vehicles.
- Personal Loans.
- Auto Buying Center.
- Request More Product Info.
- Existing Auto Loan Help.
- Rates.
- Check Application Status

- Credit Cards.
- Report a Lost or Stolen Card.
- Manage Cards.
- Existing Visa ® Charge Card Help.
- Travel Notice & Tips.
- TCM Bank MasterCard Access.
- Rates.
- Check Application Status

- Digital Banking.
- Insurance.
- Business Services.
- Financial Wellness.
- Member Discounts

- Schedule Appointment.
- Locations.
- Financial Wellness.
- Careers.
- Connect with Us!

- Facebook.
- Instagram.
- LinkedIn

- Brevard: 321-752-2222.
- Broward: 954-704-5000.
- Miami-Dade: 305-882-5000.
- All Other Areas: 800-447-7228

- Fees, Forms, and Disclosures.
- Conditions.
- Privacy Policy.
- Sitemap.
-.
SCCU Routing Number: 263177903.
NMLS #: 403370

Space Coast Credit Union subscription is open to family members of present members and all who work or live in Alachua, Brevard, Broward, Charlotte, Citrus, Clay, Collier, Duval, Flagler, Hernando, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, or Volusia Counties in Florida.

* APR = Interest Rate. ^ APY = Annual Percentage Yield.

Space Coast Credit Union (SCCU) © 2025

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