Mortgages

Bring your loan home.

At GSCU, you'll always deal with local service for the life of your mortgage loan.

GSCU made it very easy to secure a home and auto loan at reasonable rates and allow me to auto pay. They also stay on top of my escrow account and ensure that my insurance and taxes are always paid on time.

- Perry G.

Learn More About Homeownership

Balance

Through our partnership with Balance, GSCU members have access to resources all about homeownership and the homebuying process!

Start with these:

Getting a Mortgage

The Road to Homeownership

Check Out More

Framework

Framework helps you navigate every step of the homebuying process. And, this course could help you save thousands of dollars over the life of your mortgage for taking the steps to educate yourself today!*

Learn more

*Certain qualifications may apply.

Frequently Asked Questions

How much are closing costs?

Closing costs vary based on the type of loan transaction, such as a mortgage refinance versus the purchase of a new home. Once you have applied, a mortgage processor will be able to give you a rough estimate of your expected closing costs.

In general closing costs typically range from around $3,500 – $4,000 dollars. This figure would include the appraisal fee, credit report fee, attorney’s fees, title insurance, and flood determination fee.

In addition to the closing costs, most mortgage loans require an escrow account for property taxes and homeowners insurance. The amount needed to fund this escrow account varies based on the annual cost of these bills.

A purchase has other costs that are added to the above, such as state transfer taxes, which are calculated at $15.00 per thousand of the purchase price. Typically this cost is split between the buyer and the seller.

How long is the mortgage process?

The mortgage process typically takes 45 days from date of application to closing.

How do I know which mortgage option is the best fit for me?
Knowing what option is best for you, depends upon what you want to accomplish.

If you are purchasing a new home, a fixed rate option offers you a principal and interest payment that won’t change, while an adjustable rate offers a lower starting rate but will fluctuate with the market.

If you are refinancing, here are some things to keep in mind:
- Are you looking to lower your monthly payment or reduce your mortgage term?
- How many years do you have left on your existing mortgage?
- How much interest will you save over the life of the loan by refinancing?
- Are you looking to roll in closing costs or pay them out of pocket?
If you need assistance selecting the best product to fit your needs please contact our Mortgage Department at 1-800-645-4728 and we would be happy to assist you.

How do I start the mortgage process?

Starting the process is easier today than ever before. You can apply online or you can apply at one of our branches by sitting with a Member Service Representative. The application process can take from 30 minutes up to an hour to complete.

Whether you are looking to purchase your first home or refinance an existing home, we look forward to helping you through the process, every step of the way.

Fixed-Rate Mortgage

Featuring a set interest rate that remains the same for the life of your loan. A Fixed Rate Mortgage allows the borrower protection from sudden rate increases because the rate and payment stay consistent.

Adjustable Rate Mortgage

An Adjustable Rate Mortgage offers an interest rate that varies over time. Usually, this mortgage has a lower initial rate and payment than a traditional Fixed Rate Mortgage and allows borrowers more buying power when looking for a new home. These are also great for borrowers who don't plan on living in one place for a very long time.

Rates and payments of an Adjustable Rate Mortgage can rise over the life of the loan. It's important to consider how long you plan on staying in the house, how much you can afford, and if you could afford the payment if the rate increases.

FHA & VA Loans

FHA loans typically require a lower down payment, allow for 100% of the closing costs to be gifted and feature more flexible underwriting standards.

Are you a veteran? Find out if you are eligible for a VA Guaranteed Loan, where you can finance up to 100% of the purchase price of an eligible property.

Apply for an FHA or VA Loan

Table data for Fixed Rate Mortgage Programs
Rates effective 04-29-2025
Rates As Low As	Annual Percentage Rate (APR)	Term Information	Points	Monthly Payment Per $1,000
3.125%	3.231%	30 Year	0	$4.28

3.000%	3.149%	20 Year	0	$5.55

2.750%	2.869%	15 Year	0	$6.79

2.625%	2.797%	10 Year	0	$9.48

All Rates are for Owner-Occupied 1-4 Unit property only. Payments amounts on the above products do not include amounts for taxes and insurance premiums. Your payments may be greater. Annual Percentage Rate (APR) assumes a purchase transaction and is based on a loan of $100,000 with 20% down and a minimum credit score of 740 for all borrowers. Your rate and APR may be higher. All loans are priced individually. Rates are subject to change at any time. Maximum LTV of 97% for the purchase of a single-family primary residence only. Fixed Rate Mortgage loans may also be subject to risk-based pricing adjustments called "loan-level price adjustments" as defined by the most recent Fannie Mae LLPA Chart. Minimum Loan amount is $10,000 with Maximum Loan Amount not to exceed Fannie Mae Loan Limits for property type and location. This limit is generally $510,400.00. Rates and amount financed are determined by your credit history and are based on excellent credit.

Table data for 3/1 Year Adjustable Rate Mortgage Program
Rates effective 04-29-2025
Rates As Low As	Annual Percentage Rate (APR)	Points	Monthly Payment Per $1,000	Fully Indexed Rate	Monthly Payment Per $1,000 (with Fully Indexed Rate)
3.125%	3.191%	0	$4.28 first 36 months	2.875%	$4.44

All Rates are for Owner-Occupied 1-4 Unit Property Only. Maximum Loan Term is 360 months. Caps: 2% per change/6% lifetime. Base Margin: 2.75%. Index: 1 yr T-Bill as published in the Wall Street Journal. Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher. The stated amount per $1,000 is based on the fixed rate period and the payment will likely increase after that period of time. Payments amounts on the above products do not include amounts for taxes and insurance premiums. Your payments may be greater. *Annual Percentage Rate (APR) is based on a loan of $100,000 with 20% down and a minimum credit score of 720 for all borrowers. Your rate, margin and APR may be higher. All loans are priced individually, your rate may be higher. The APR on ARMs is adjusted periodically after closing, which may result in an increase. Rates are subject to change. Maximum LTV for all products is 97%, and is reserved for the purchase of a single-family primary residence only.

Table data for 5/1 Year Adjustable Rate Mortgage Program
Rates effective 04-29-2025
Rates As Low As	Annual Percentage Rate (APR)	Points	Monthly Payment Per $1,000	Fully Indexed Rate	Monthly Payment Per $1,000 (with Fully Indexed Rate)
3.250%	3.235%	0	$4.35 first 60 months	3.125%	$4.81

All Rates are for Owner-Occupied 1-4 Unit Property Only. Maximum Loan Term is 360 months. Caps: 2% per change/5% lifetime. Base Margin: 3.000%. Index: 1 yr T-Bill as published in the Wall Street Journal. Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher. The stated amount per $1,000 is based on the fixed rate period and the payment will likely increase after that period of time. Payments amounts on the above products do not include amounts for taxes and insurance premiums. Your payments may be greater. *Annual Percentage Rate (APR) is based on a loan of $100,000 with 20% down and a minimum credit score of 720 for all borrowers. Your rate, margin and APR may be higher. All loans are priced individually, your rate may be higher. The APR on ARMs is adjusted periodically after closing, which may result in an increase. Rates are subject to change. Maximum LTV for all products is 97% unless part of first-time homebuyer program, and is reserved for the purchase of a single-family primary residence only.

Table data for 7/1 Year Adjustable Rate Mortgage Program
Rates effective 04-29-2025
Rates As Low As	Annual Percentage Rate (APR)	Points	Monthly Payment Per $1,000	Fully Indexed Rate	Monthly Payment Per $1,000 (with Fully Indexed Rate)
3.375%	3.308%	0	$4.42 first 84 months	3.125%	$5.08

All Rates are for Owner-Occupied 1-4 Unit Property Only. Maximum Loan Term is 360 months. Caps: 5% first change and lifetime/2% per change after first change. Base Margin: 3.00%. Index: 1 yr T-Bill as published in the Wall Street Journal. Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher. The stated amount per $1,000 is based on the fixed rate period and the payment will likely increase after that period of time. Payments amounts on the above products do not include amounts for taxes and insurance premiums. Your payments may be greater. *Annual Percentage Rate (APR) is based on a loan of $100,000 with 20% down and a minimum credit score of 720 for all borrowers. Your rate, margin and APR may be higher. All loans are priced individually, your rate may be higher. The APR on ARMs is adjusted periodically after closing, which may result in an increase. Rates are subject to change. Maximum LTV for all products is 97%, and is reserved for the purchase of a single-family primary residence only.

Table data for 10 Year Land Loan Mortgage Program
Rates effective 04-29-2025
Rates As Low As	Annual Percentage Rate (APR)	Points	Monthly Payment Per $1,000	Fully Indexed Rate	Monthly Payment Per $1,000 (with Fully Indexed Rate)
6.250%	5.554%	0	$11.23 for first 12 months	5.125%	$11.58

10 Year Loan Term. 1/1 Year ARM. Caps: 2% per change/6% lifetime. Base Margin: 5.00%. Index: 1 yr T-Bill as published in the Wall Street Journal. Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher. The stated amount per $1,000 is based on the fixed rate period and the payment will likely increase after that period of time. Payments amounts on the above products do not include amounts for taxes and insurance premiums. Your payments may be greater. Annual Percentage Rate (APR) is based on a loan of $100,000 with 20% down and a credit score greater than 720 for all borrowers. Your rate, margin and APR may be higher. All loans are priced individually. The APR on ARMs are adjusted periodically after closing, which may result in an increase. Max LTV for developed land can be up to 80%. All Land Loans require a Perk Test that is less than 3 years old and the land must be a buildable house lot. The appraisal ordered in conjunction with the application will provide us with the confirmation of this. Minimum Loan amount is $10,000 with Maximum Loan Amount not to exceed Fannie Mae Loan Limits for property type and location. This limit is generally $510,400.00. Rates and amount financed are determined by your credit history and are based on excellent credit. Rates are subject to change daily.

Table data for 15 Year Land Loan Mortgage Program
Rates effective 04-29-2025
Rates As Low As	Annual Percentage Rate (APR)	Points	Monthly Payment Per $1,000	Fully Indexed Rate	Monthly Payment Per $1,000 (with Fully Indexed Rate)
7.250%	6.726%	0	$9.13 for first 36 months	6.125%	$9.82

15 Year Loan Term. 3/3 Year ARM. Caps: 2% per change/6% lifetime. Base Margin: 6.00%. Index: 3 yr T-Bill as published in the Wall Street Journal. Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher. The stated amount per $1,000 is based on the fixed rate period and the payment will likely increase after that period of time. Payments amounts on the above products do not include amounts for taxes and insurance premiums. Your payments may be greater. Annual Percentage Rate (APR) is based on a loan of $100,000 with 20% down and a credit score greater than 720 for all borrowers. Your rate, margin and APR may be higher. All loans are priced individually. The APR on ARMs are adjusted periodically after closing, which may result in an increase. Max LTV for developed land can be up to 80%. All Land Loans require a Perk Test that is less than 3 years old and the land must be a buildable house lot. The appraisal ordered in conjunction with the application will provide us with the confirmation of this. Minimum Loan amount is $10,000 with Maximum Loan Amount not to exceed Fannie Mae Loan Limits for property type and location. This limit is generally $510,400.00. Rates and amount financed are determined by your credit history and are based on excellent credit. Rates are subject to change daily.

Table data for Construction Loan Mortgage Program
Rates effective 04-29-2025
Rates As Low As	Annual Percentage Rate (APR)	Points
6.500%	11.340%	1

12 Month Loan Term. Maximum LTV of 95%. Annual Percentage Rate (APR) is based on a loan of $100,000 with 20% down at a simple rate of 6.500%. Interest only on the amount of credit outstanding will be paid monthly. One payment of the principal balance will be due at the end of the 12 month period. APR also includes fees for periodic inspections and plot plan.