Press
SSFCU power mortgage waives closing costs and origination fee
(April 25, 2014) — Security Service Federal Credit Union (SSFCU) today rolled out its new Power Mortgage loan program in Texas, Colorado and Utah, offering members a home loan with no closing costs up to $5,000, no origination fee and low interest rates. The new program is available for both purchases and refinances. Borrowers must qualify for membership, but there are more than 2,600 different ways to join SSFCU.
While the average 30-year fixed rate mortgage rate is down, closing costs climbed in 2013 for the second straight year and were expected to continue to rise in 2014.
“Research shows that many consumers are able to afford the mortgage payment for the home they want to purchase, but it’s the extra costs at closing that prevent them from buying,” said Jim Laffoon, president and chief executive officer of SSFCU. “By eliminating closing costs and origination fees, we remove a giant hurdle for many of our members, helping them move one step closer to buying a home,” he added.
For more information, and for details on ways to qualify for membership, visit www.ssfcu.org or call 1-800-52-SSFCU.
Membership eligibility required. Loan subject to credit approval. No closing cost offer does not cover mortgage insurance, seller paid closing costs, discount points or prepaids and reserves. The program is not valid for FHA or VA loans. If a loan is closed or paid off within first 36 months of the term, member may be required to reimburse all or some of the closing costs incurred. Security Service is an Equal Housing Lender.
About Security Service Federal Credit Union
Security Service Federal Credit Union offers competitive, affordable financial products and services designed to meet the needs of its members. Headquartered in San Antonio, Texas, Security Service is an industry-leading financial institution with $7.5 billion in assets and 70 locations in Texas, Colorado and Utah. The credit union is among the top 10 credit unions in the nation. Security Service strives to be America’s best credit union and provides the true benefits of credit union membership with financial services of the highest quality and value. Learn more at www.ssfcu.org or call 1-800-52-SSFCU.