• Will I be charged any fees if I authorize my credit information to be accessed?

    No, SECU does not require any upfront fees to obtain a pre-approval letter.  Once you choose a home and consent to continue with the process through SECU, we will request the cost of the appraisal report; all else will be collected at closing.

  • Is there a fee charged or any other obligation if I complete the on-line application?

    There is no fee or obligation for completing the on-line application.  If you are applying for a pre -approval, SECU will bear the cost of obtaining the credit report.  If you are applying for a refinance loan or have a signed contract and are applying for a purchase loan, the credit report fee will be included in your closing costs and collected at settlement.  SECU will request an appraisal fee (to be determined based on type of loan and property) during the processing of your loan, once you have had a chance to lock into the rate and terms we can offer you and are comfortable with continuing your application through to loan closing.

  • Is it possible for my relatives to “gift” me the down payment? What about borrowing the down payment?

    Certain loan types allow a gift from a relative for down payment and closing costs.  As a rule, you cannot borrow money to cover the down payment, however there are exceptions such as borrowing against your own assets like a 401K.  Please consult your Loan Officer for more information.

  We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.