FOLSOM, Calif. — SAFE Credit Union is offering qualifying new and existing members incentives aimed at reducing homebuying costs as mortgage rates remain elevated and energy costs continue to pressure household budgets, according to the credit union.
The $4.4 billion credit union said the promotion, available through June 30, includes:
- A 0.25% mortgage rate discount
- A $2,000 lender credit that can be applied toward closing costs
According to SAFE Credit Union, the offer applies to eligible first mortgage loan products for the purchase of a primary residence. FHA loans are excluded. To qualify, loans must be locked by July 15.
Reducing Upfront Costs
Michael Popp, senior vice president of real estate lending at SAFE Credit Union, said in a statement the program is designed to help members reduce both borrowing costs and upfront expenses tied to purchasing a home.
SAFE said members may also combine the promotion with its “HomeRewards” program, which matches buyers with vetted real estate agents through Newzip’s agent matching service.
According to the credit union, qualifying homebuyers who use the HomeRewards program can receive an additional credit equal to 0.5% of the home’s sale price at closing. Home sellers using the service may receive a 1% discounted agent listing fee.
Additional Offerings
SAFE Credit Union said it also continues to offer several mortgage refinance and home equity products, including an interest-only home equity line of credit payment plan that allows qualified borrowers to make interest-only payments during the draw period of a HELOC.
Popp said the credit union’s goal is to provide members with greater control over household budgets during what is often the largest purchase of their lives.
In addition to mortgage products, SAFE said homeowners may access Green Energy loans of up to $30,000 for energy-efficiency improvements, including:
- EV charging stations
- Solar panels
- Dual-pane windows
- Home insulation
- Whole-house fans
- Electric water heaters
