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HOME MORTGAGE
Suffolk FCU offers its members/homeowners a first mortgage loan program for the purchase or refinance of 1 to 4 family, owner occupied homes; second (vacation) homes; condos; and investment properties at competitive fixed and adjustable interest rates.
Plus... 10 to 40 year terms; 100% financing; low down payment loans; jumbo mortgages; and affordable homeownership options. Apply using our online Mortgage Center.
 Maximum Loan Amount
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Conventional
1 family dwellling $417,000
2 family dwellling $533,850
3 family dwellling $645,300
4 family dwellling $801,950
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Special "Jumbo" Loan Financing is available
up to $1 million in each category when loan
amount exceeds maximum.
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Minimum Down Payment
Fixed 5% / Adjustable 5% |
Minimum Loan Amount
$20,000 |
If you have a Suffolk FCU Mortgage Loan in service and would like to check the status, click here.
Repayment
Members can arrange for automatic payments from their Checking or Savings account.
Payment coupon books are also available. Specific terms are subject to the type of mortgage.
Minimum Term
10 Years |
Maximum Term
40 Years |
Fees paid at application good faith deposit of $375. This deposit can be applied toward closing costs. The mortgage department can supply a current list of of fees.
Tax dvantage deductions are available for interest paid on all or a protion of the mortgage loan. Member should contact their tax advisor for details.
Construction Loans
Suffolk FCU offers construction financing on new homes to be built on purchased property.
CO-OP LOANS
SFCU offers Co-Op loans for members. Working with a partner, US Mortgage Corporation, SFCU offers Co-Op loans in Suffolk, Nassau, Westchester and Rockland counties as well as the five boroughs of New York City. The Co-Op loan program works by using share loans to purchase a share or membership in a cooperative housing corporation. They are a unique form of financing that looks like a mortgage but are structurally different. When purchasing a Co-Op, members are not directly purchasing the real estate but rather an ownership interest in the corporation. The corporation owns or leases the real estate. Please call 1.877.247.0088 or 631.924.8000, and ask for SFCU's Mortgage Department for additional information.
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