All mortgages loans are not the same, and it’s important to understand the differences. There are many options when it comes to buying a home. Let us help you find the best solution for your needs.
Purchasing a home? Refinancing your home? Before you start searching the Web and local real estate guides, talk to us about which mortgage option is right for you. DCECU offers mortgages with available loan amounts up to $1,000,000 for primary and secondary homes.1 In addition to affordable rates and easy terms, many of our mortgage loans qualify for the potential year-end Member Giveback and Loan Interest Rebate.
With predictable monthly payments throughout the entire loan term, DCECU’s Fixed Rate First Mortgage is a great option for many members.
Consider the Balloon First Mortgage if you don’t intend to stay in a home for a long period of time. This loan allows you to make a lower monthly payment and build equity in your home faster than a higher fixed rate mortgage. While your payment and interest rate would remain the same during the balloon term, the remaining balance would need to be refinanced or paid off at the end of the term. You may be eligible to roll the current balance into an available balloon mortgage through DCECU at balloon maturity with no closing costs.
|Maximum Term||Rate as low as2||APR3|
Limited to developed, non-agricultural, non-income producing homes located within Michigan. Other loan limitations may apply. ↩︎
Interest rates are based on member's credit score. ↩︎
APR = Annual Percentage Rate. APR based on a no point $100,000 loan with 80% loan-to-value and a 30 year amortization. ↩︎
Qualified borrowers may be able to lower their interest rate at DCECU.
NMLS numbers for DCECU & our loan officers
How to escalate a dispute regarding Mortgage Servicing