What is a 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 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 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 provides suggestions to make your experience as basic 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 options, and no annual fees, members conserve more with an SCCU Visa® & reg; credit 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 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 Credit Line.
- 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 ® Charge 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 out your info. SCCU will NEVER call, text, or email you to request sensitive details, such as your Online Banking passwords or account/card numbers. Learn more.

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

Adjustable-Rate Mortgage

Make the most of lower preliminary payments and start constructing equity

SCCU uses a variety of Adjustable-Rate Mortgages (ARMs) to help you begin constructing equity while taking pleasure in a lower rate and payment up front. Since ARM rates and payments can go lower or higher in the future, you'll need to fully understand how they work. We'll deal with you to identify what alternative is best for your situation. Our skilled mortgage officers can discuss the information so that you'll feel great 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 Rate 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.
- Electronic banking.
- How Adjustable-Rate Mortgages Work (+ Advantages And Disadvantages)

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

You might apply online or reach out to us.

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

At SCCU, we provide a range of ARMs to suit our members' needs, including alternatives that provide rate adjustment after 5, 7, or ten years22. For example, a 5/1 ARM has a set interest rate for the first 5 years of the loan. After the initial five-year duration, the interest rate and payment may adjust every 12 months. The rates of interest can't increase or reduce more than 2 percent at one change and can't increase more than 5 percent over the life of the loan. To find out more, please connect to us.

What are the downsides of an ARM loan?

Adjustable-rate mortgages (ARMs) are not for everybody, but the good news is that debtors have a large range of mortgage types from which to pick. If you are thinking about an ARM loan, nevertheless, it is very important to comprehend some of the potential downsides:

- Adjustable-rate mortgage rates can and are most likely to alter over the life of the loan. An ARM rate may be low for an initial period but could increase later on.
- Some adjustable-rate mortgages consist of prepayment charges, so you will want to ask possible lenders for a clear response on this.
- Some adjustable-rate mortgages will have a balloon payment at maturity, which might be a substantial amount of money.

What are adjustable-rate mortgage modification caps?

Adjustable-rate mortgages have caps, or limits, on just how much the interest rate can increase from one change date to the next. These modification caps safeguard borrowers from extreme changes in rates. Lenders may have three kinds of caps:

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

What is an ARM loan modification period?

Typically, the month-to-month payment and rate 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 between each interval-at which time the interest rate can be adjusted-is understood as the adjustment duration.

What questions should borrowers inquire about adjustable-rate mortgages?

Securing a mortgage of any type is typically among the biggest financial deals a lot of individuals will make, so making the effort to ask possible lenders the best concerns is essential. To make certain you understand the regards to an adjustable-rate mortgage, ask lending institutions these concerns:

- What is the preliminary rates of interest and for how long does it use?
- How frequently will my rates of interest be adjusted?
- What is the index that the ARM rate is based on?
- What is the loan provider's margin (an extra amount that lending institutions add to the index rate)?
- How high or low could the interest rate go?
- What is the cap on the payment?
- Exists a charge for settling the loan early?
- If there is a balloon payment, when would it be due and just how much would it be?
- Does the preliminary monthly payment consist of taxes and insurance coverage?

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

Each type 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 consider when weighing your home financing choices: Adjustable-rate mortgages are at first based on short-term interest rates that are generally lower than interest rates on fixed-rate mortgage. That implies ARM rates may at first supply lower month-to-month payments and might give you the chance to acquire a more costly home. But, after the preliminary rate period, your rate might change, affecting your month-to-month payment. There are likewise more kinds of variable-rate loans, so you may have more choices when trying to find home financing that meets your private requirements.

The most crucial benefits of fixed-rate mortgages include understanding precisely what your regular monthly home payments will be over time which you won't have any undesirable rate of interest surprises in the future. Fixed-rate mortgages are also easier and easier to understand.

Contact our Express Services group to learn more about all of the mortgage alternatives SCCU provides our members.

Who should think about an adjustable-rate mortgage?

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

- Your earnings is currently sufficient or is most likely to increase enough for you to be able to comfortably make greater monthly payments must your ARM rate of interest boost at any modification duration.
- You plan to remain in your home for simply a few years, so the possibility of paying greater month-to-month payments in years to come is not a concern.

- Yes
- No

MORTGAGE: Mortgage loans are come from by Space Coast Cooperative Credit Union, and undergo credit approval, confirmation and collateral assessment. Programs, offers, rates, terms, and conditions undergo alter or cancel without notification. Certain constraints apply.

These mortgage loan programs make up very first mortgage liens secured by the home and residential or commercial property. Your deposit is identified by the Loan-to-Value ratio. (90% LTV = 10% down payment) Loans going beyond 80% of the appraised worth of the home need private mortgage insurance. Member responsible for any funds required 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.
- Terms.
- Privacy Policy.
- Sitemap.
-.
SCCU Routing Number: 263177903.
NMLS #: 403370

Space Coast Credit Union subscription is open to loved ones 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 = Annual Percentage Rate. ^ APY = Annual Percentage Yield.

Space Coast Cooperative Credit Union (SCCU) © 2025

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