Mortgage Center

SMCU's Mortgage Experts Have the Answers You Need

Seattle Metropolitan Credit Union is a full-service mortgage lender. Our specially trained mortgage experts have years of experience working with borrowers to find the right loan. Because SMCU is a not-for-profit financial cooperative, our primary goal is helping our members get the best mortgage for them. We make sure that you'll be able to afford your mortgage now and for years to come.

Even if you have less-than-perfect credit, SMCU may have a program that could save you money every month or get you into your next home.

Whether you need a mortgage to buy a new home or you are looking to refinance your existing loan, SMCU has what you need. In either case, our low rates and fees will help save you money over other lenders.

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Apply online for a quick decision

When you are ready to apply for a home loan, you can do it online and get an answer fast, often within just a few hours. If you start the application and need to get more information to answer one of the questions, you can save the application and come back later to complete it.

Once you have completed the application and approval process, you have the option to go to any of our branch locations to sign your documents. We will bring your loan papers and a specially-trained lending professional to whichever location is most convenient for you and have you on your way as quickly as possible.

Apply Now

Home Buying Workshop: Saturday, May 27


Home Buying Workshop

Join us for a free, one-hour workshop for first-time home buyers. We will be covering common pre-purchase issues such as budgeting, determining how much house is affordable, how to save for a down payment, how personal credit reports and debt-to-income ratios affect the process, and how the mortgage lending process works as a whole. SMCU is proud to help the community prosper by educating members and non-members on how to be a responsible homeowner. Our home-buying expert, Emanuel Ortiz will be leading the workshop.


SMCU will provide light refreshments and free training materials.


The workshop will take place at El Centro de la Raza (2524 16th Ave S, Seattle, WA 98144) from 1:00 P.M. to 2:00 P.M. in Room 307.


Space is limited. To reserve your spot, RSVP at, or click the button below.



Why should you get your Mortgage from SMCU?

Speech Bubble

"The SMCU team has been consistently professional, highly knowledgeable and very pleasant to work with. It has been a very good experience for us and we are delighted that SMCU is now our mortgage holder. You can bet if the opportunity arises, we will recommend SMCU!"


- Fran O. and Samuella S.


"We really appreciated the great experience you provided for our mortgage loan. Your communications were timely. You led us through the process step by step. And you were so fast in getting the process completed! It was really refreshing to work with you."


- Joel & Chris

21-Day Closing Guarantee*

Free, Fast Pre-Approvals

Having a pre-approval can be the difference between having the winning offer on your next house and watching some other family move into your dream home. Before you start shopping, talk to our Mortgage Center Pros and see how much home you can afford.

You can have an answer in just a few days, and Seattle Metropolitan doesn’t charge pre-approval fees like some other lenders.

Seattle Metropolitan Mortgages

A Mortgage for Every Borrower

Because every borrower is unique, SMCU offers a variety of mortgage options. From fixed-rate loans to first-time homebuyer programs, SMCU has the home loan you need. Our portfolio of low-rate mortgage products includes:

  • Fixed-Rate Mortgages - 10, 15, 20 and 30-year
  • Adjustable Rate Mortgages (ARMs) - 3/1, 5/1, and 7/1 ARMs
  • Jumbo Mortgages (Over $417,000)
  • Undeveloped-Land Loans
  • VA Loans
  • First-Time Homebuyer Loans
  • Fixed-Rate No Fee Refinances

Call our mortgage experts at (206) 398-5888 or email to see which program is best for you. Or, click the button below to apply online.

Apply Now

Frequently Asked Questions


  • What is escrow?

    In many cases the lender who holds your mortgage loan will be responsible for making sure that your property taxes and property insurance premiums are paid in a timely fashion. To do that, your lender will collect a certain amount above your designated monthly principal and interest payments and hold it in an account, called an escrow account. Sometimes you will see this amount listed with your regular payment as “T&I” When your tax or insurance payments come due, the lender will pay them from this escrow account.

    Because taxes and insurance can change from year to year, the amount you pay each month can change as well. Each year your lender will provide you with a statement showing how much they’ve paid for taxes and insurance on your behalf and what they expect to pay in the current year.

    You may be eligible to pay these items yourself, which would remove any escrow payment from your monthly payment.

  • What paperwork do I need to include with my mortgage application?

    Your mortgage expert will be able to tell you specific documents you will need, but these documents are commonly requested:

    • Tax returns or other proof of income, including documentation of any supplemental income you receive from sources other than your primary employment, such as rental or investment income.

    • Recent bank and/or brokerage statements. This may also include paperwork for your retirement assets

    • A list of your recent addresses, usually two years’ worth.

    • The purchase or sales agreement if you have already made an offer on a home or condo.

  • How long will it take to fund my mortgage loan?

    SMCU strives to have all approved mortgage loans funded within 30 days of approval. However, between approval and funding there are a number of things that need to happen, including:

    • Verification of income and other application data
    • Appraisal of the property and dwelling
    • Review of the title records associated with the property
    • Creation of the loan documents

    Some of these steps happen quickly, but others can be subject to scheduling concerns and the volume of loans in process. Your mortgage expert will be able to give you a more concrete timeline as you move through the process.

  • What is an adjustable-rate mortgage (ARM)?

    An ARM is a mortgage loan that has an interest rate that can change periodically during the life of the loan. Most ARMs are subject to change only once per year. Some can have a fixed interest rate for a specified number of years at the beginning of the loan and then change annually after that. For example a 3/1 ARM has a fixed rate for the first three years of the loan and then can change once a year after that.

    Your loan documentation will specify how often your rate can change as well as the minimum and maximum amount it can change each period and how much it can change over the life of the loan.

    When the rate on an ARM changes, the payment will change. That’s why your SMCU mortgage expert will be sure that you can afford your loan at the initial rate as well as at the maximum rate. The last thing you want is to have your payment increase beyond what you can afford to pay. SMCU is dedicated to making sure that our members don’t find themselves in this situation.

  • What is a mortgage?

    A mortgage is a loan secured by your home. Mortgages can be used to purchase homes and property, to refinance an existing home loan, and in some cases to provide cash or pay off other debt.

  • What are points?

    Points are fees you pay to a lender when you fund your mortgage in exchange for a lower interest rate. SMCU offers programs with points and without points. Talk to your mortgage expert to determine whether paying points makes sense for you.

  • How long does it take to get a mortgage application approved?

    The approval process is dependent on the number of applications received, but usually only takes a couple of days, once we receive a completed application.

  • How much money do I need for a down payment?

    Down payment requirements will vary based on the mortgage program you are interested in and your individual financial situation. Talk to your SMCU mortgage expert for information specific to you and your loan.

  • Will SMCU Sell My Mortgage?

    SMCU does sell some of our mortgage loans on the secondary market. However, unlike some lenders, we always retain the servicing of the loan. That means that when you make your monthly payment or have questions about your home loan, you can always deal with a helpful, friendly SMCU representative.



Home Loan Workshops
We offer individual informational sessions on credit and home financing at our downtown location. To schedule your personal appointment, email us at or contact us at 206-398-5888.

Personal Finance Workshops
We offer individual informational sessions on credit and home financing at our downtown location. To schedule your personal appointment, email us at or contact us at 206-398-5888.

For more information, or to schedule an appointment, contact SMCU's Mortgage Center at 206-398-5888 or

SMCU’s Low Rates and Fees Can Save Thousands of Dollars

Save with Low Rates and Fees

As a co-op, SMCU strives to provide the best rates possible for all of our mortgage products. That means you could save thousands of dollars over the life of your mortgage by choosing Seattle Metropolitan Credit Union versus another lender. Compare SMCU’s rates, fees, and closing costs with other lenders to see how much you could save.

View Mortgage Rates