Second Homes - Suncoast Schools Federal Credit Union

• 1st mortgages are available for qualified members in Mississippi, Virginia, Georgia, Tennessee, Alabama, North and South Carolina.

• Payroll deduction or automatic transfer of your loan payment makes bill paying much easier and lower interest rates may be available on many products with this payment option.

• There is an option to allow credit card access to your Equity Line of Credit.

Second Home / Vacation Home

Program Options:

Available with our 3/1 ARM, 5/1 ARM and our Fixed rate mortgage products.

Available for purchases and refinances in Alabama, Georgia, Florida, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia. (Fixed rates available for properties located in Florida only)

Guidelines:

Maximum loan amount is $300,000.

Maximum loan to value is 70%.

Must be located in an established project. New projects are not eligible. Condo conversions and developments with greater than 25% investor owned units are not eligible.

Construction and mobile home loans are not available.

Escrow for property taxes and hazard insurance is required. This means your monthly payment may increase based on changes to your annual property tax and hazard insurance amounts.

For all mortgage types, properties will be limited to a maximum of 5 acres. Properties with more than 5 acres are subject to an interest rate increase of 1%.

Property must be located a minimum of 200 miles from current primary residence. Interest rate will be 1% higher than current offering rate for primary residence.

Normal underwriting guidelines apply. Terms or conditions may change without notice