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SESLOC Supports Central Coast Teachers

SPECIAL OFFER! Home Loans for as Little as 1% Down1

Our roots as the premier credit union for school employees makes us proud to offer fixed or adjustable rate home loans with down payments as little as 1%1, designed especially for K-12 teachers.2 Thank you for educating the youth in our community, now let us support you!

Eligibility:2

   

Discuss your eligibility and rates with our real estate experts to get started.

  • Full-time, presently employed K-12 school teachers
  • Permanent substitute teachers
  • Loan must be for the purchase of your primary residence

Simply call us or request a free consultation to see if you’re eligible. We’ll guide you through the lending process and find a solution with a competitive rate that’s right for you.


Get started with an application or speak with a Mortgage Loan Officer »

For a free consultation, call (805) 543-1816, email or book an appointment »


Fixed Rate Home Loans

With a fixed rate, you have the advantage and security of knowing your rate and your monthly payment will not change for the term of your loan. Features include:

  • 15 and 30-year terms3
  • Low or no points options
  • Pre-qualification with no obligation
  • Financing up to 99% loan to value1

Adjustable Rate Home Loans

Compared to a fixed rate loan, these loans have lower initial interest rates, which mean lower monthly payments. Even after the initial "rate lock" period, rates cannot adjust more than 1% annually or 5% over the life of your loan. They also feature:

  • A 5 or 7-year initial rate hold4
  • Rate adjusts annually after the initial rate hold
  • Rate caps to provide added security
  • Low or no-points options
  • Pre-qualification with no obligation
  • Financing up to 99% loan to value1

Rate Index: 11th District cost of Funds - 1% Annual Rate Cap / 5% Lifetime Rate Cap


Get started with an application or speak with a Mortgage Loan Officer »

1Loan terms based on credit history, and are subject to credit approval. Some restrictions apply.
2Other eligibility qualifications required for loan approval, including but not limited to: employment as full-time, presently employed kindergarten through twelfth grade school teacher or permanent substitute teacher for those grade levels, loan must be for the purchase of primary residence and must qualify for mortgage insurance through the credit union mortgage insurance provider.
3Payment Example: For a fixed rate loan in the amount of $400,000 for 30 years with an initial interest rate of 4.000% (APR 4.049%*), the estimated monthly payment would be $1,909.66. Payment example excludes taxes and insurance. Actual payment will vary based on final loan terms and may be higher. Refer to the Payment Calculator below to estimate additional payment examples.
4Payment Example: For a 7/1 adjustable rate loan in the amount of $400,000 for 30 years with an initial interest rate of 3.250% (APR 3.346%*), the estimated monthly payment would be $1,768.38. Payment example excludes taxes and insurance. Actual payment will vary throughout the life of the loan, based on final loan terms and changes to the rate index after the initial fixed period. Rate and payments may increase after consummation. Refer to the Payment Calculator below to estimate additional payment examples.
*APR = Annual Percentage Rate