Suncoast has mortgage loan options to meet your specific needs! Check out some of our featured mortgages and special offers.
Suncoast Community Heroes Mortgage
From school employees and military to nurses and first responders, the Community Heroes Mortgage is here to help the people who work so hard to help our community.
Costs can quickly add up when buying a house. We want to help our local heroes save money with our 30, 20, 15 and 10 year fixed rate mortgage options or 3/3 and 7/1 adjustable rate mortgage options.
- No origination fee
- Up to 100% financing†
- No down payment
- No Private Mortgage Insurance (PMI)
Suncoast will also pay up to $3,000 toward your qualifying closing costs when you purchase or refinance your primary residence with our Heroes 3/3 ARM. These programs are only available in Florida.
Suncoast will contribute up to $3,000 towards closing costs (Closing Costs Benefit) when the HEROES 3/3 ARM product is selected for the purchase or refinance of a primary residence. Suncoast will not pay closing costs for discount points to obtain a lower rate, insurance premiums or monies necessary to establish escrow accounts (taxes and insurance). All Sellers paid closing costs will be credited prior to any credits for the Closing Cost Benefit to be provided by Suncoast. If the mortgage is paid in full during the first 24 monthly payments of the loan, borrowers will be required to repay the closing costs benefit to Suncoast for the amount reflected as “Lender Credits” on the Closing Disclosure. The 24 monthly period begins with the first payment due date of the loan. The interest rate floor will be equal to the margin of 2.50%. All loans are subject to income and credit qualifications.
†The subject property must be the member’s primary residence. The member must contribute (and satisfactorily document accordingly as their own funds) a minimum of $1,000 towards either the down payment (if applicable) or closing costs, including escrows and pre-paids. 100% financing is only applicable to Single Family Homes and Townhomes. Up to 95% financing for Condominiums. Mobile Homes and Lots are not eligible for this product. The members can not retain ownership in any other financed residential property at time of closing.
Suncoast Six Month SafeLock
Purchasing a newly constructed home in a new home community? While the builder completes your home, we’ll secure your home loan! Lock in today’s great rates for up to six months with Suncoast Six Month SafeLock.
You’ll get the protection of knowing your interest rate won’t change while you wait for your move-in date. So if rates go up, you don’t have to worry! And if rates go down, you can still take advantage of the lower rate.
Suncoast Six Month SafeLock gives you one less thing to think about during the construction of your home and comes with benefits like:
- No rate add-ons or lock-in fees
- Competitive rates and low closing costs
- Personalized service every step of the way
- Your mortgage stays with a trusted lender who puts you first
Suncoast Six Month SafeLock is available for a wide variety of our ARM mortgage options, so you get low down payments and no PMI.
Since mortgage rates are subject to change on a daily basis, we offer a rate-lock policy on your loan that protects you against rising interest rates during the construction of your new home and your loan processing stage.
Once you have met the requirements, your End Loan rate is locked for 180 days, and you will receive the rate as of that date. If rates decline, you also have one opportunity, during the processing of your loan, to relock your rate at no cost. You may request to re-lock the rate on any business day during loan processing, but no later than 15 days prior to the initial drawing of your loan closing documents. Electing to re-lock your loan rate will not extend your original 180 day lock period.
To request a rate lock or relock your rate, please contact our Mortgage Call Center between the business hours of 8:00 a.m. and 5:00 p.m., Monday through Friday at 813-621-7511 or toll-free at 800-999-5887 ext. 86391 or you may email your requests to firstname.lastname@example.org. Please include your name, the rate and mortgage product you are applying for and a contact phone number.
A Lock-In Confirmation will be sent to you by the following business day from receipt of your request. Please sign the confirmation and return it so that we may validate your rate lock request has been completed.
You have met the requirements for the rate lock and can lock-in your interest rate for 180 days if you: 1) Have submitted a completed SUNCOAST CREDIT UNION mortgage application, and 2) Have submitted a signed Real Estate Purchase Contract for the property you wish to purchase, and 3) Have provided your Intent to Proceed.
Save Up to $3,000 on Your Closing Costs
Our 3/3 Right Time ARM or our Heroes 3/3 ARM can help you save money and contribute up to $3,000 toward your closing costs!*
Let us help make it affordable to purchase or refinance your primary residence with our 3/3 Right Time Adjustable Rate Mortgage (ARM).
- Get the dream home you want while you save money on your mortgage and closing costs
- Financing available to 95%
- Suncoast will pay up to $3,000 of your qualifying closing costs when you choose the 3/3 Right Time ARM mortgage
- Maximize your purchasing power by choosing a lower rate ARM with a lower initial payment
- No Private Mortgage Insurance (PMI) required
First Time Homebuyer 10/1 ARM
Suncoast has enhanced our First Time Homebuyer 10/1 ARM program to expand opportunities for new homebuyers.**
- Maintain your interest rate for at least 10 years
- Up to 97% financing available
- Ask us how you may qualify with as little as 1% of your own funds when combined with a 2% gift from an immediate family member
- No Private Mortgage Insurance (PMI) required
Jumbo Mortgage Loan Options
We can help you make your once-in-a-lifetime home a reality.
- Up to 95% financing to $850,000 for 15 or 30 year fixed rates
- Up to 95% financing to $679,650 for adjustable rates
- Up to 80% financing to $1,000,000 for fixed and adjustable rates
- Purchase a new home or refinance an existing home
- No rate increase for larger loan amount
For more information and additional loan options, visit our Online Mortgage Center.
*Suncoast will contribute up to $3,000 (Closing Costs Benefit) toward your closing costs when you select our 3/3 Right Time ARM product or the HEROES 3/3 ARM product for the purchase or refinance of your primary residence. Suncoast will not pay closing costs for discount points to obtain a lower rate or monies necessary to establish escrow accounts (taxes and insurance). If the mortgage is paid in full during the first 24 monthly payments of the loan, borrowers will be required to repay the Closing Costs Benefit to Suncoast for the amount reflected as “Lenders Credits” on the Closing Disclosure. The 24 month term begins with the first payment due date of the loan. All Sellers paid closing costs will be credited prior to any credits for the Closing Cost Benefit to be provided by Suncoast. Not to be combined with any other offers.
**Please note the maximum household income permitted to qualify for this program is 150% of the HUD Area Median Income in the county in which the property is located. You must complete a Suncoast approved First Time Homebuyer class and provide the certificate of completion prior to closing. Visit HUD.gov to locate a local class in the county of the property being purchased or complete an online course offered by Fannie Mae. There is an up-front, non-refundable fee for the online class charged by, and paid directly to Fannie Mae. Visit the Fannie Mae online course website at knowyouroptions.com/framework.