Friday, March 17, 2023

Safe Credit Union Mortgage Rates

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How Do I Get Preapproved For A Mortgage

PenFed Credit Union Mortgages – Great Rates for Everyone (30-Second Spot)

Applying for mortgage preapproval with SAFE is quick and easy. The application takes only about 15 minutes, and you can expect a quick response.

To get started, simply visit our secure application portal. You can first receive a customized rate quote based on information such as:

  • Type of refinance
  • Estimated home value/purchase price
  • Loan amount youre requesting
  • Location of the property

When youre ready to apply, its quick and easy. It takes only about 15 minutes to complete your application, and you can expect to quickly hear back from one of our Mortgage Loan Originators.

Wishfirst Time Home Buyer Program

We understand that for low to moderate-income individuals and families, the journey to becoming a homebuyer takes extraordinary hard work and determination.

That’s why we are part of the Workforce Initiative Subsidy for Homeownership program. We want to empower your dreams of homeownership! Contact us to learn more.

To be eligible for WISH funds3, the homebuyer will need to:

4-to-1 matching grants
Learning The Lingo

Assessing The Mortgage Rate Market

As you can see in the above graph, mortgage rates change year after year, so the factors impacting your potential mortgage rate arent entirely in your hands. Of course, controlling some factors that dictate your mortgage rate are totally in your power. Snagging a lower rate is all about making yourself appear a more trustworthy borrower.

You see, lenders charge different borrowers different rates based on how likely each person is to stop making payments . Since the lender is fronting the money, the lender decides how much risk its willing to take. One way for lenders to mitigate losses is with higher interest rates for riskier borrowers.

Lenders have a number of ways to assess potential borrowers. As a general rule of thumb, lenders believe that someone with plenty of savings, steady income and a good or better score is less likely to stop making payments. It would require a pretty drastic change in circumstances for this kind of homeowner to default.

On the other hand, a potential borrower with a history of late or missed payments is considered a lot more likely to default. A high debt-to-income ratio is another red flag. This is when your income isnt high enough to support your combined debt load, which can include student loans, car loans and credit card balances. Any of these factors can signal to a lender that youre a higher risk for a mortgage.

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What’s The Difference Between Apr And Interest Rate

The annual percentage rate is the true cost of the mortgage. It takes into account all the fees and charges you pay when you receive the mortgage and spreads those out over the life of the loan so you can get an idea via an annualized rate of what youre actually paying.

The federal government requires banks to list the APR to preclude hidden or unexpected fees. Looking at the APR can be useful when comparing two different loans, especially when one has a relatively low interest rate and higher closing costs and the other has a higher interest rate but low closing costs. The mortgage with the lower APR might be the overall better deal.

The APR is generally higher than the stated interest rate to take in account all the fees and costs. Usually its only a few fractions of a percent higher, though – you should give anything larger than that a hard second look. When youre exploring 40-year mortgage rates and 30-year mortgage rates, those fees are spread out over a longer period of time. The APR probably wont be much higher than the interest rate. But for 20-year mortgage rates, 15-year mortgage rates and 10-year mortgage rates, the difference between the APR and the interest rate will likely be greater.

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Checking And Savings Account Rates

Annual Percentage Yield*
Regular Savings

*Rates are subject to change at any time without notice. Your savings is federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. Other restrictions may apply. APY = Annual Percentage Yield.

Checking Account Rates
Annual Percentage Yield*
Regular Checking

**Rates are subject to change at any time without notice. APY = Annual Percentage Yield.

Annual Percentage Yield*
$2,000 – $10,000

**Rates are subject to change at any time without notice. APY = Annual Percentage Yield.

Examples Of How Mortgage Rates Are Chosen

So lets say you have a very good to exceptional FICO credit score of between 750 and 850, savings and assets for the recommended 20% down payment and a net income that is more than three times your monthly payment. Lenders would see you as a reliable borrower who is likely to make payments on time, so you would probably qualify for the lowest advertised mortgage rates.

However, if your credit score isnt high and you dont have savings for a down payment, your lender may deny your mortgage application or point you in the direction of government-backed loans from the Department of Housing and Urban Development or the Federal Housing Administration . Most federally sponsored programs allow lenders who have fair or good credit scores to qualify for home loans even if they dont meet all traditional metrics. Such risk factors may include a higher debt-to-income ratio.

These programs generally offer 30-year fixed rate loans and reduced down payments that homeowners can finance or pay with grants, if available. While these can be advantageous for borrowers who cant qualify for a traditional home loan, they typically come with a type of mortgage insurance, which will add to the cost of your monthly housing payments.

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Safe Credit Union Q& a

Your SAFE credit union checking account number is printed at the bottom of your SAFE checks. You can also find your account number by logging in to your account through SAFE online banking.

When submitting your account number for electronic transactions, you must leave out leading zeros and the check number.

Find out if you are eligible to join SAFE Credit Union.

Information on this page is provided ‘as is’ and solely for informational purposes, not for any other purpose or advice. In addition, this information does not originate from us and thus, we do not guarantee its accuracy.

You can check the profile page of each professional or company to determine whether they are a paying advertiser . Regardless of advertiser status, none of the listings, reviews, or other information on Wallet Hub constitutes, in any way, a referral or endorsement by us of the respective financial company or professional, or vice versa. Furthermore, it is important to note that the inclusion of a financial company or professional on Wallet Hub does not necessarily indicate their involvement with the site or control over the information that we display. Information is displayed first and foremost for the benefit of consumers.

Editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institutions responsibility to ensure all posts and questions are answered.

How To Find The Best Mortgage Rate

PenFed Credit Union Mortgages – Great Rates for Everyone (15-Second Spot)

Lets face it: shopping for mortgages can be a struggle. Checking interest rates, filling out loan applications, choosing a lender all the choices and numbers can be overwhelming. But its worth the research and time. Comparing mortgage rates across lenders is one of the first steps in the home buying process. This allows you to budget by giving you an idea of what your monthly mortgage payments will total. Even minor differences in the interest rate on a six-figure loan will add up over the life of a 30-year mortgage. This can have a huge impact on your overall financial goals.

Years ago, it was more common to skip comparison shopping and go right to your primary bank as a mortgage lender. But now, your bank is just one of many lender options you have as a modern homebuyer. You can find reviews, ratings, customer experiences and all sorts of information right from the comfort of your home computer or smartphone. There are lenders who will tell you what rates you qualify for online within minutes and others that require you to speak to a mortgage broker. Whatever your preference, you have all sorts of resources available to you.

A financial advisor can aid you in planning for the purchase of a home. To find a financial advisor who serves your area, try our free online matching tool.

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Work With A Preferred Realtor

Our Preferred Realtors are here to help you! Our trusted realtor partners are knowledgeable about the current housing market and make it their top priority to find Copper State CU members the home of their dreams. Each realtor specializes in an area of the Valley and we can help you find the right realtor partner. Simply click below to get started on your pre-approval or reach our team at 623.580.6020.

Why Get A Credit Union Mortgage

When youre ready to apply, its quick and easy. It takes only about 15 minutes to complete your application, and you can expect to quickly hear back from one of our Mortgage Loan Originators.

Just like there are benefits to banking with a credit union, there are benefits to borrowing from one, too. As a not-for-profit credit union, we can offer:

  • Lower interest rates
  • Friendly, personalized assistance from local loan officers

Even when you apply online, a SAFE team member will connect with you to provide one-on-one service throughout the entire mortgage process. You wont be passed aroundyour loan will be assigned to a specific loan officer who will guide you from start to finish.

Not yet a SAFE member? You may qualify for membership based on your location or your membership in one of our partner organizations . Learn more about joining safe on our Membership page.

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The Right Mortgage For You:

  • Fixed rate mortgage.

    Use Copper State Credit Union’s fixed rate mortgage for your primary home, second home, vacation home or investment property!

  • Refinance your mortgage.

    Refinancing is easy! See how much you could save on your monthly mortgage payment by switching your mortgage to Copper State Credit Union!

  • VA loans are available.

    VA loans offer exclusive mortgage benefits to service members, veterans and eligible surviving spouses to help make homeownership affordable.

  • FHA loans are available.

    FHA loans require a lower minimum down payment and are most popular with first-time homebuyers and those who have limited savings or lower credit scores.

Our low mortgage rates and refinance rates can help you afford the home you’ve imagined.
Love Your Home!

Should I Choose A Mortgage Based On The Apr

The Ins and Outs of Co

The APR is a great tool for comparing two mortgages with different terms, but it’s ultimately important to consider all aspects of your loan when making a decision. For example, if your savings account is well-stocked, you may be willing to pay some higher closing costs for a loan with a lower monthly payment that is more in line with your regular income.

And there are other, non-financial factors as well. Every mortgage lender does business its own way. Some use a personal touch with each customer and others offer the most cutting-edge technology to make your borrowing experience easy. Do you prefer a small, local institution? An online lender? A national bank with a 100-year history and an established reputation? Theres no right answer to any of these questions, but they are important to think about nonetheless. You could be making payments on your mortgage for 30 years, so you should find a lender that suits your needs.

Before you sign your papers, its a good idea to research your lender. Read reviews, the company website and any homebuying material the lender publishes. It can help you get an idea of the company before you do business.

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What Are My Monthly Payment Options

You can make a quick one-time transfer or set up recurring payments within your Online Banking account. If you prefer you can pay at a branch or by phone when you use our telephone banking or call 1-800-763-8600, option 2. You also can mail your payment with the loan coupons that are Issued with your mortgage. However you choose, making a payment is easy!

Looking for your monthly mortgage balance? Your mortgage balance can be found within Online Banking, on your monthly mortgage statement, or by calling .

Interested in automatic payments? Automatic mortgage payments can be set up quickly and easily within your online banking account.

Mortgage Loans For All Your Home Needs

Whatever your home buying needs are, SAFE has the best mix of home loan rates, personalized service, and expertise to make your mortgage process fast and easy.

  • Offer variety of mortgage products to purchase, build, refinance, or fix-up
  • In-house loan experts to offer personalized service every step of the way
  • Accelerated turnaround time to take you from application to closing in approximately 30 days or less

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Homeownership Is An Adventure

We value you, your family and your goal to provide a safe, comfortable home for those you love. Our mortgage experts will allow you focus on the adventure and new memories, not the process or paperwork.

Whether you are a first-time homebuyer, a veteran in search of a new home or are looking to save money on your current mortgage payment, Copper State Credit Union can help.

Lorenzo B.

Very professional and personable. They made me feel like they had known me for 20 years.

They care about you and your family’s needs. Because of them, my family’s dreams are coming true.

Payments Made Easy

Did you know we have a tool in online banking JUST for your mortgage?

You can use our mortgage widget to:

  • Check your mortgage balance
  • Set up statements
  • Make your payment

You must be enrolled in Online Banking in order to use this tool. Here are some quick instructions to help you access your mortgage widget.

Mortgage Widget Instructions:

  • Log in to online banking
  • Click More from the menu on the left. Then, click Widget Options
  • Scroll down to Available Widgets and find the House icon labeled Mortgage
  • Click More from the menu on the left and you will now see your Mortgage widget listed. Enjoy your new time-saving widget!
  • The S.A.F.E. Act
    Have a Question?

    Safe Credit Union Reviews

    Mortgages With Great Rates From Sikorsky Credit Union

    Safe is incredible and appreciate their service ! Hope to keep our working together.

    They’re community-oriented and understand the needs of the community and are really willing to participate in helping build the community up financially especially as we’re all recovering from the pandemic effects to our economy

    I was Extremely Happy with SAFE while buying a new home, Experience with refinancing is totally unprofessional, existing Mortgage officer on my loan does not even respond my calls or emails, I guess SAFE just goes after new customer acquisitions and does not believe in Customer/Member retention and Mortgage officers on Loan Accounts never respond to existing customers! very bad experience with SAFE Mortgage Loan officer

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    What Is The Process For Getting A Mortgage

    SAFE keeps the mortgage process simple and seamless. Start by applying online in our secure application portal where you’ll fill out some basic information about yourself. You also can apply at your nearest SAFE branch. Once you’re approved, you can start looking for your new home! A home appraisal Is required for a home purchase or refinance. SAFE’s loan experts are here to provide guidance and next steps from approval to closing, so there’s never any guessing.

    First, ask yourself how much you can spend. Look at all your financial obligations to get a better picture of what you can put into a down payment as well as monthly payments. You also want to consider the other costs of home-buying and ownership, like Private Mortgage Insurance and property tax. Need a little help with the numbers? Use our handy mortgage calculators to determine if its time to buy, calculate your monthly mortgage payments, or decide between mortgage types.

    After youve gathered your financial information, youre all set for the next steptalking to one of our loan officers. They can help you explore your loan options and answer any questions you may have.

    Refinancing can be a great option when your interest rate is above the current market rate. You may wish to refinance in order to:

    • Lower your monthly mortgage payment
    • Pay off your mortgage loan faster
    • Get rid of mortgage insurance
    • Switch from an adjustable to fixed-rate loan

    Buying A House In Arizona

    Free expert tips to navigate the home-buying process with ease.

    The housing market forecast in Arizona is looking as hot as our summer sun. Luckily, we’ve got everything you need to confidently purchase the home of your dreams

  • Before Buying a House in Arizona- Do This
  • Check Out Arizona Homes for Sale and Seal the Deal
  • Buying a House in Arizona – The Home Stretch
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