State Employees’ Credit Union Mortgage Review 2025




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Our Take
5.0
If you live in the Southeast and meet its narrow membership criteria, State Employees’ Credit Union in North Carolina is worth checking out. However, it doesn’t offer government-backed mortgages. Will appeal to first-time home buyers eligible for generous grants and specialty loans.

Pros
- Offers a zero-down mortgage without private mortgage insurance.
- Participates in multiple first-time buyer assistance programs.
- Low average mortgage rates, according to the latest federal data.
Cons
- Credit union membership eligibility is limited.
- Loans only available in five states.
- Doesn’t offer government-backed mortgages.
Lender | Min. credit score | Min. down payment | |
---|---|---|---|
Visit Lenderat NBKC at NBKC | 620 | 3% | Visit Lenderat NBKC at NBKC |
![]() Visit Lenderat New American Funding at New American Funding | 580 | N/A | Visit Lenderat New American Funding at New American Funding |
![]() Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC | 580 | 3.5% | Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC |
![]() 4.0 Visit Lenderat GO Mortgage at GO Mortgage | 620 | 3% | Visit Lenderat GO Mortgage at GO Mortgage |
Visit Lenderat Veterans United at Veterans United | 620 | 0% | Visit Lenderat Veterans United at Veterans United |
Full Review
At a glance: SECU mortgage options
State Employees’ Credit Union is a credit union based in Raleigh, North Carolina. It is the largest mortgage lender by loan volume in North Carolina as of 2024, according to the latest federal data available.
Loans are available in North Carolina, South Carolina, Virginia, Georgia and Tennessee. HELOCs are not available in Tennessee.
🏠 Common mortgages • Fixed- or adjustable-rate • Conventional • Jumbo • Rate-and-term refinance
🔑 Specialty loans • Loans for vacation/second homes • Loans for self-employed borrowers • ITIN loans • Conventional loans for manufactured homes • Historic preservation home loans
💵 Home equity • HELOC • Cash-out refinance
» MORE: How to choose a mortgage lender
SECU special offers and discounts
SECU’s First Time Homebuyer’s Mortgage, a five-year adjustable-rate mortgage, offers three impressive benefits:
No down payment requirement (for homes up to $500,000).
No private mortgage insurance.
Up to $2,000 in closing cost assistance.
Buyers can qualify if they haven’t owned a home in the past three years. The benefits are also available to certain state agency and public school employees.
SECU partners with the Federal Home Loan Bank of Atlanta, which offers three programs to make homeownership more affordable for low- and moderate-income households:
First-Time Home Buyer Assistance Product: Offers up to $17,500 in down payment and closing cost assistance as a forgivable grant to borrowers who meet qualifications.
Community Partners Product: Offers up to $20,000 in assistance for current or retired workers in helping professions including law enforcement, education, health care, firefighters and first responders; as well as active-duty members of the U.S. military, veterans or their surviving spouse.
Workforce Housing Plus+ Program: Offers up to $15,000 in homebuying assistance as a forgivable grant for those making between 80% and 120% of the area median income, measured either by county or statewide.
What does SECU specialize in?
A lender’s experience with your loan type can make a big difference. We looked at the latest federal data to find the types of mortgages SECU handles most often.
Last year, almost all (98%) of SECU’s mortgage loans were conventional. The lender also originated a small amount of jumbo loans.

How we score SECU home loans
Each year, NerdWallet writers and editors dig into the latest data and independent research on mortgage lending. Then, we rate lenders based on categories that matter most to mortgage borrowers.
SECU has a NerdWallet home loans rating of five stars overall. Here’s a breakdown of this year’s score.
Category | Star rating |
---|---|
Average mortgage rates and fees | |
Mortgage rate transparency | |
Variety of loan types | |
Customer experience | |
Overall star rating |
Ah, so you’re the “read the fine print” type? We got you. Here’s how our scoring rubric works.
Average mortgage rates and fees (30%)
We review federal data (as reported by the lenders) and analyze mortgage lenders’ average fees and interest rates across all loan types. Lenders with the lowest average costs get the highest star ratings. Keep in mind: Loans that are easier to qualify for, like FHA loans, usually have higher rates and fees because lenders see them as a higher risk. Pro tip: Paying some fees upfront can sometimes lower your interest rate.
Mortgage rate transparency (25%)
We look at how easy it is to compare mortgage rates online. Lenders get higher transparency ratings if they show sample rates on their website. (Not all lenders do!) The best ratings go to lenders that offer interactive tools that let you customize a rate quote on your own.
Variety of loan types (25%)
There’s no one-size-fits-all mortgage. Lenders earn top ratings in this category when they offer a large variety of mortgage types. The more variety, the higher their score. A lender earns points for purchase and refinance; fixed and adjustable rates; FHA, VA or USDA loans; renovation or construction loans; and home equity loans or HELOCs.
Customer experience (20%)
How easy is it to work with this lender? Top-rated lenders offer helpful features like online applications, multiple ways to get support, a user-friendly mobile app and clear updates about the loan closing timeline.
SECU bonus points
SECU earned bonus points for its first-time home buyer assistance program; accepting credit scores as low as 600; and offering conventional loans for manufactured homes.
SECU mortgage reputation and customer experience
NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we look at the latest customer satisfaction scores from J.D. Power and Zillow. However, SECU didn’t have data from either source for NerdWallet to share. We also contacted the lender’s customer support.
SECU mortgage customer service options
Here’s how you can get in touch with SECU.
Ways to reach SECU
Physical branches . . . . . . ✅ Phone support . . . . . . . . . ✅ Mobile app . . . . . . . . . . . . ✅ Online chat (bot) . . . . . . . 🚫 Online chat (human) . . . . 🚫
🤓 Our Nerds say... mobile app punches above its weight class

Abby Badach Doyle, lead writer, mortgages
SECU’s mobile app earns a 4.9 rating on the App Store, reflecting more than 240,000 ratings. That’s impressive for a regional credit union — we’ve seen larger lenders offer apps with lower ratings or fewer features.
» MORE: How to apply for a mortgage
Alternatives to a SECU home loan
Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.
For a credit union experience, FourLeaf Federal Credit Union has an easy membership requirement: Just open a savings account with a $5 minimum deposit. Andrews Federal Credit Union offers up to $20,000 in Federal Home Loan Bank grants to first-time home buyers who meet income requirements and other qualifications.
More from NerdWallet
NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: average mortgage rates and origination fees, rate transparency to consumers, variety of loan types (purchase, refinance, fixed and adjustable, for example) and customer experience. Among the factors we consider in these categories are: options to apply for home loans online, typical time to close, mobile app experience, level of detail about mortgage rates on lender websites, and NerdWallet’s own analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These and other items inform detailed rubrics, which generate ratings from 1 star (poor) to 5 stars (excellent). Read more about how we rate mortgage lenders here.