Mortgage Loans

DCECU.org is your Mortgage Loan HQ.

DCECU.org is your Mortgage Loan HQ.

Enjoy great low rates and closing costs. Plus, up to $1 Million financing

  • Lake House Loans
  • Starter Home Loans
  • Dream Home Loans

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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 Mortgage is a great option for many members.

Not planning to stay in a home for a long period of time? Consider an Adjustable-Rate Mortgage (ARM). This mortgage allows you to make a lower monthly payment and build equity in your home faster than a higher fixed rate mortgage.

Our Adjustable-Rate Mortgages have a mix of a fixed-rate period and an adjustable-rate period. The interest rate is fixed for the first 5 or 7 years and then may adjust yearly based on the index plus margin applicable at the yearly review.

To learn more, stop by or call us.

Non-Rebate Eligible Fixed Rate Mortgage

Effective November 28, 2016
Term Rate as low as2 APR3
10 years 2.875% 2.972%
15 years 3.125% 3.192%
20 years 3.500% 3.552%
25 years 3.750% 3.794%
30 years 3.875% 3.913%
  • Maximum Percentage Financed: 95%4
  • Maximum Loan Amount: $417,000
  • Loan example: Borrow $100,000 at 3.875% with 360 monthly principal and interest payments of approximately $470.24.

Rebate Eligible Fixed Rate Mortgage5

Effective November 28, 2016
Term Rate APR3
10 years 3.875% 3.973%
15 years 4.125% 4.194%
20 years 4.500% 4.554%
25 years 4.750% 4.796%
30 years 4.875% 4.915%
  • Maximum Percentage Financed: 95%4
  • Maximum Loan Amount: $1,000,000

Non-Rebate Eligible Adjustable-Rate Mortgage (ARM)

Effective November 28, 2016
Term Rate6 APR7
5/18 3.375% 3.412%
7/19 3.625% 3.663%
  • Maximum Percentage Financed: 95%4
  • Maximum Loan Amount: $1,000,000 amortized to 30 years
  • Margin: 5/1 = 2.250%; 7/1 = 2.500%
  • Rate is variable and can increase by no more than 2 percentage points every year after the initial fixed-rate period and has a lifetime maximum increase adjustment of 5 percentage points.
  • Index based on the Wall Street Journal® 1-year LIBOR in effect on the 25th of the month preceding the end of the calendar quarter, rounded to the nearest 0.125%

Rebate Eligible Adjustable-Rate Mortgage (ARM)

Effective November 28, 2016
Term Rate6 APR7
5/18 3.875% 3.913%
7/19 4.125% 4.164%
  • Maximum Percentage Financed: 95%4
  • Maximum Loan Amount: $1,000,000 amortized to 30 years
  • Margin: 5/1 = 2.750%; 7/1 = 3.000%
  • Rate is variable and can increase by no more than 2 percentage points every year after the initial fixed-rate period and has a lifetime maximum increase adjustment of 5 percentage points.
  • Index based on the Wall Street Journal® 1-year LIBOR in effect on the 25th of the month preceding the end of the calendar quarter, rounded to the nearest 0.125%
  • Loan example: 5/1 ARM amortized over 30 years with maximum periodic rate increases: Borrow $100,000 at an initial rate of 3.875% with principal and interest payments of $470.24 per month for the first 5 years; $574.69 per month at a rate of 5.875% for year 6; $685.87 per month at a rate of 7.875% for year 7; and $743.11 per month at a rate of 8.875% for years 8-30. To help you plan, the example given for the ARM loan is for demonstration purposes and used the maximum rate increases allowed by the plan.

Just getting started?

Start a Pre-Qualification Request

Ready to apply?

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  1. Limited to developed, non-agricultural, non-income producing homes located within Michigan. Other loan limitations may apply. ↩︎

  2. Interest rates are based on member's credit score. ↩︎

  3. APR = Annual Percentage Rate. APR based on a no point $100,000 loan with 80% loan-to-value. ↩︎ ↩︎2

  4. Purchase of Private Mortgage Insurance (PMI) required for financing above 80%. Some limitations may apply. ↩︎ ↩︎2 ↩︎3 ↩︎4

  5. Properties located in Special Flood Hazard Area not eligible for this loan type. ↩︎

  6. Initial interest rate is not based on the index plus margin used to make later rate adjustments. Ask us for the current amount our adjustable-rate mortgages are discounted. ↩︎ ↩︎2

  7. APR = Annual Percentage Rate. APR based on a no point $100,000 loan with 80% loan-to-value and a 30 year amortization. After initial fixed-rate period, rate may adjust yearly. APR may increase after the original rate period. ↩︎ ↩︎2

  8. Rate has a fixed-rate period of five years and then may adjust yearly based on index plus margin. ↩︎ ↩︎2

  9. Rate has a fixed-rate period of seven years and then may adjust yearly based on index plus margin. ↩︎ ↩︎2