The Rate Improver Mortgage

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Lock Now, Lower Later

Float down your interest rate once, at no additional cost!

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Key Features of TRIM™

Rate Adjustment: Float down your interest rate once within the first 5 years, giving you flexibility if mortgage rates fall after you buy your home.
Broad Eligibility: Available for single-family owner-occupied homes or warrantable owner-occupied condominiums with loan amounts up to $800,000.

Affordable Financing: Finance up to 95% Loan-to-Value (LTV) with a minimum FICO score of 620. Mortgage insurance is required for loans over 80% LTV.

With TRIM™, you can take advantage of changing market conditions without the hassle of refinancing, making it a great choice for first-time buyers or anyone searching for savings.

Start Your Journey Today!

Apply online now, speak with one of our experienced mortgage consultants, or visit your local SCU Credit Union branch to learn more about the Rate Improver Mortgage. We're here to help you every step of the way.

How does TRIM™ work?

The unique feature of TRIM™ is its “float down” option. After six months of consistent mortgage payments, you can request to lower your interest rate if market rates drop—at no additional cost. Plus, you don’t have to worry about refinancing headaches! Simply enjoy the savings and flexibility right within your existing mortgage.

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Get pre-approved with SCU Credit Union's Smart Start Program. Down payments starting at 3%, up to $1,000 closing costs credit, and fast processing.

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The Rate Improver Mortgage (TRIM) Questions

Click to view The Rate Improver Mortgage (TRIM) FAQs

How is the interest rate for the TRIM™ loan determined in the future?

You can closely monitor mortgage rates through reliable sources like the Primary Mortgage Market Survey (PMMS) by Freddie Mac, specifically focusing on the "30-yr FRM" rates. This allows us to identify opportune moments for rate adjustments.
Is there a processing fee for the TRIM™ loan?

Yes, there is a processing fee of $750 for the TRIM™ loan. This fee covers the administrative costs associated with processing your application and ensuring a smooth and efficient mortgage experience. Rest assured, we are dedicated to providing transparent and competitive financing options while delivering exceptional service every step of the way.
Why choose the TRIM™ loan over other mortgage options?

The TRIM™ mortgage offers unmatched flexibility to lower your interest rate without refinancing costs. It’s perfect for first-time buyers or anyone looking to adjust their mortgage terms as market conditions change.
When can I make use of the float-down rate feature?

You can request to lower your rate once during the first five years of your loan, starting six months after you’ve made satisfactory payments.
Is mortgage insurance required for the TRIM™ loan?

Mortgage insurance is required if your loan exceeds 80% Loan-to-Value (LTV).
Can I use TRIM™ for investment properties or vacation homes?

No, the TRIM™ mortgage is designed specifically for owner-occupied single-family homes or warrantable condominiums.
How does the rate adjustment feature work?

After making six months of satisfactory mortgage payments, you can request to “float down” your interest rate if market rates improve. There’s no refinancing required, and it won’t cost you a thing.
What is the Rate Improver Mortgage (TRIM™)?

The Rate Improver Mortgage, or TRIM™, is a flexible mortgage plan that allows you to lower your interest rate once during the first five years of your loan without any additional costs.
Do I need a certain credit score to qualify for TRIM™?

Yes, a minimum FICO score of 620 is required to qualify for the TRIM™ mortgage.

The TRIM™ mortgage is available for single family owner- occupied dwellings or owner-occupied warrantable condominiums.

Table data for The Rate Improver Mortgage – TRIM^TM Rates
Effective Date: May 1, 2025
Product	Example Loan Amount	Max Loan Amount	Rate	Discount Points	APR¹	Est. Payment	# of Payments	Alert Me
30 Year Fixed	$100,000	$800,000	7.000%	0	7.043%	$6.65	360	Receive a notification when this rate changesReceive a notification when this rate changes

¹APR = Annual Percentage Rate. Fixed Rate Mortgages and their APRs are based on a $100,000 loan with a 20% down payment for the applicable term. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater. Fixed rate mortgage products are eligible for our First Time Home Buyer credit. Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply. For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300 ↵

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