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Looking to Purchase a Home? Click to view Purchase Rates.

Purchase Mortgage Loan Rates (1, 2, 3, 6, 7, 8, 9)

APR = Annual Percentage Rate
Effective 04/06/20

  Rate APR Points Payment Amount (P&I)
 30-year Fixed (5) 3.500% 3.610% 0.000 $449.04
3.250% 3.440% 1.000 $435.21
 20-year Fixed (5) 3.250% 3.403% 0.000 $567.20
3.000% 3.265% 1.000 $554.60
 15-year Fixed (5) 3.000% 3.196% 0.000 $690.58
2.750% 3.091% 1.000 $678.62
 10-year Fixed (5) 2.875% 3.160% 0.000 $959.85
2.625% 3.122% 1.000 $948.39
 
 Educator Employee 30-year Fixed (5, 19) 3.375% 3.431% 0.000 $442.10
3.125% 3.180% 1.000 $428.38
 Educator Employee 15-year Fixed (5, 19) 2.875% 2.929% 0.000 $414.89
2.625% 2.678% 1.000 $401.65
 
 5/1 ARM (10,18) 2.750% 2.585% 0.000 $408.24
2.500% 2.577% 1.000 $395.12
Hometown 97 10/1 ARM (10,18) 3.625% 3.209% 0.000 $456.05
Hometown 97 7/1 ARM (10,18) 3.500% 2.969% 0.000 $449.04
Hometown 97 5/1 ARM (10,18) 3.375% 2.801% 0.000 $442.10
 
 Jumbo 30-year Fixed (5) 3.500% 3.520% 0.000 $2469.75
3.250% 3.350% 1.000 $2393.63
 Jumbo 5/1 ARM (10,18) 2.750% 2.541% 0.000 $2245.33
2.500% 2.533% 1.000 $2173.16
 
Table with model house
Looking to Refinance your Home? Click to view Refinance Rates.

Refinance Mortgage Loan Rates (1, 2, 3, 6, 7, 8, 9)

APR = Annual Percentage Rate
Effective 04/06/20

RateAPRPointsPayment Amount (P&I)
 30-year Fixed (5)3.875%3.987%0.000$470.24
3.625%3.819%1.000$456.05
 20-year Fixed (5)3.625%3.780%0.000$586.40
3.375%3.644%1.000$573.56
 15-year Fixed (5)3.375%3.573%0.000$708.76
3.125%3.470%1.000$696.61
 10-year Fixed (5)3.125%3.411%0.000$971.39
2.875%3.374%1.000$959.85
 
 Educator Employee 30-year Fixed (5, 19)3.375%3.431%0.000$442.10
3.125%3.180%1.000$428.38
 Educator Employee 15-year Fixed (5, 19)2.875%2.929%0.000$414.89
2.625%2.678%1.000$401.65
 
 5/1 ARM (10,18)3.000%2.671%0.000$421.60
2.750%2.663%1.000$408.24
Hometown 97 10/1 ARM (10,18)3.625%3.209%0.000$456.05
Hometown 97 7/1 ARM (10,18)3.500%2.969%0.000$449.04
Hometown 97 5/1 ARM (10,18)3.375%2.801%0.000$442.10
 
 Jumbo 30-year Fixed (5)3.875%3.895%0.000$2508.28
3.625%3.727%1.000$2431.53
 Jumbo 5/1 ARM (10,18)3.000%2.626%0.000$2318.82
2.750%2.618%1.000$2245.33
 
Looking to use the Equity in your Home? Click to view Home Equity Rates.

Home Equity Loan Rates ** (7, 8, 12, 13, 14)

APR = Annual Percentage Rate
Effective Month 04/2020

Rate APR Loan Amount Maximum LTV
48 Months 4.990% 4.990% $10,000 - $250,000 80% (11)
 
60 Months 5.240% 5.240% $10,000 - $250,000 80% (11)
 
84 Months 5.490% 5.490% $10,000 - $250,000 80% (11)
 
120 Months 5.125% (20)
5.125% (20)
$10,000 - $250,000 80% (11)
 
180 Months 5.375% (20)
5.375% (20)
$10,000 - $250,000 80% (11)
 

Representative Example: A loan in the amount of $30,000, at an APR of 5.125% and a term of 120 months would have a payment of $320.03.

Home Equity Line of Credit Rates *** (7, 14)

APR = Annual Percentage Rate
Effective Month 03/2020

APR Index FloorMargin Loan Amount Maximum LTV Estimated Payment Per $1,000 Borrowered
HELOC I (11, 17) 4.00%(15) 3.25%4.00%(15) 0.000% - 1.125% (16) $5,000 - $250,000 80% (11)
Interest only for the first 10 years
 

All loans subject to approval.

1
Rates quoted are for single family detached, owner occupied properties in California.
2 Points, rates & APR (Annual Percentage Rate) are affected by credit worthiness.
3 Add-on fees may range from .125 points to 3.0 points or more depending on the loan characteristics.
4 Second Homes and Investment Properties limited to 60% Loan to Value (LTV).
5 Purchase and refinance limited to 95% maximum LTV for fixed rate mortgage programs.  Purchase and Limited Cash Out Refinance limited to 97% maximum for the Educational Employee Program. 
6 Payment examples are based on an 80% LTV.  PMI will be required if the financed amount is over 80% for fixed rate mortgage programs.  PMI will be required if the financed amount is over 85% for the Education Employee Program. 
7 Rates listed are for informational purposes only. Not all applicants will qualify for all rates.
8 Property insurance required. Flood insurance required when applicable.
9 Conforming payment example amounts are based on a $100,000 loan, only include principal and interest, and do not include taxes and insurance.  Jumbo payment example amounts are based on a $550,000 loan, only include principal and interest, and do not include taxes and insurance.  Actual payments may be greater.
10 ARM rates are variable and subject to change after the fixed term (i.e. 5/1 fixed for first 5 years, 7/1 ARM fixed for first 7 years, and 10/1 ARM fixed for first 10 years). After the fixed term, rates may change every year and are calculated based on index plus margin, but cannot increase more than 2% in any annual adjustment. Index based on the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board (1 year T-bill).
11 Maximum LTV of 75% for 2-unit properties.
12 Loans are subject to a demand fee of up to $30 upon request for payoff.
13 A reconveyance fee of $45 plus the applicable county recording fee will be collected at payoff.
14 Loans are not allowed behind negatively amortizing first mortgage loans (including reverse mortgages) or first mortgages with a balloon.
15 The APR is variable. The APR is determined by adding the applicable "Margin" to the "index" in effect on each APR Adjustment Date. The Index is the Prime Rate as published in the "Money Rates" Section of the Wall Street Journal.  Rates will never go below the "Floor" listed above. 
16 Final APR and Margin are based on the creditworthiness and loan to value (LTV). Margin ranges from 0.000% - 1.125%, based on FICO and LTV.
17 Initial draw period of 10 years, with an additional 15-year repayment term.
18 Maximum rate is 6% over the rate in effect the day your loan documents are drawn.
19 Loan is available to all current and retired certified and non-certified staff of eligible public and private education institutions within California.
20 Final Rate and APR are based on creditworthiness and loan to value (LTV).  Rates may be increased from 0.125& - 2.000% above the base rate published based on credit score (FICO) and LTV.

* If more than 20% of the original principal amount is paid off within the first 12 months, a pre-payment charge equal to the amount of your closing cost (including add-on fees) or the sum of six months' interest on the amount of the excess, which ever is less will apply.
** Equity loans must be in second lien position. Properties with no exiting mortgage are ineligible for our equity loan product. If a Schools Financial Equity Loan is currently in first lien position it cannot be refinanced. In this circumstance, an additional equity loan may be placed in second lien position. Members are limited to owner-occupied equity loans. Loans paid off within three years of the date of the note will be subject to an early closure fee in the amount of $250. Plus title and escrow fees of up to $1,500 for loans with construction in progress. For loan amounts $100,000 and under , "no closing costs" are based on the property value being established using an Automated Valuation Model (AVM).
*** Members may only have one Owner-Occupied HELOC open at any time. Loans paid off within three years of the date of the note will be subject to third party fees of up to $1,500. Plus title and escrow fees of up to $1,500 for loans with construction in progress. For loan amounts $99,999 and under , "no closing costs" are based on the property value being established using an Automated Valuation Model (AVM).

To qualify for a home loan with us you must meet one of the following criteria:

  1. Already be a Member with us.
  2. Meet one of the eligibility requirements for Membership.
    1. Be a school employee at an eligible school in California (Teachers, Administrators, Classified Staff, District Employees, Department of Education Employees, and Government-Sponsored Education Program Employees).
    2. Retiree receiving a pension or annuity from an eligible school.
    3. An immediate family member of an existing Schools Financial Member.

If you are unsure if you meet one of the criteria above and would like to speak to a representative please call our Member Contact Center at 916-569-5473.

If you meet one of the eligibility criteria above, please press continue to apply.

To qualify for a home loan with us you must be eligible for Membership. Please select an option below to continue.

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If you are unsure if you meet one of the criteria above and would like to speak to a representative please call our Member Contact Center at 916-569-5473.

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