Mortgages & Home Equity


1st & 2nd: Shipbuilders Credit Union can secure a rate for five years on the purchase of your new or used home. We also offer fixed and adjustable rates and no prepayment penalties.  

Home Equity: Are you looking for an affordable source of cash to add a new deck, renovate a bedroom or travel? Why not put the equity in your home to work for you? Apply for a Shipbuilders Credit Union Home Equity Line of Credit which allows you to use your money when and how you want.

Construction: Shipbuilders Credit Union offers a construction loan in which after 6-9 months, it becomes part of your regular mortgage. You only pay interest during the construction draw period. Fixed rate financing is available upon completion.

Check out our current rates!

Click here for helpful Home Affordability information.


The Nationwide Mortgage Licensing System (NMLS) Unique Identifier of any person originating a residential loan must be clearly shown on SCU’s website. 

Financial Institution NMLS # – 366211

Employee names and NMLS # are as follows:

  • Jeanne L. Brey – NMLS # 500818

  • Paul G. Eggert – NMLS # 460163

  • Sheri K. Lau – NMLS # 460337

  • Stacey A. Mangin – NMLS # 500863

  • Lynn F. Moore – NMLS # 500891

  • Max Steimle – NMLS # 1401338

Home Equity

Also called a second mortgage, a Home Equity Loan offers homeowners a smart and convenient way to borrow money against the equity in their homes. You can use the loan money for anything you wish – including home improvements, vacation expenses, a vehicle purchase and more! Interest rates are typically lower than for other types of loans and the interest paid on the loan could be tax deductible (consult a tax advisor).

Home Equity Loan options include:

  • A Second Mortgage where you receive the funds in a lump sump and you enjoy a fixed rate for five years with a balloon note.

  • A Home Equity Line of Credit (HELOC) which can be used for ten years and has a variable rate based on the prime rate. You only make payments on the amount you draw from the loan.