Mortgage Loans

HOME Sweet LOAN! Great rates. Flexible terms. Competitive closing costs. Fast approvals.

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 mortgage 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 July 1, 2018
Term Rate as low as2 APR3
10 years 3.500% 3.690%
15 years 3.875% 4.012%
20 years 4.250% 4.362%
25 years 4.500% 4.596%
30 years 4.625% 4.710%
  • Maximum Percentage Financed: 95%4
  • Maximum Loan Amount: $453,100

Rebate Eligible Fixed Rate Mortgage5

Effective June 25, 2018
Term Rate APR3
10 years 4.625% 4.756%
15 years 5.000% 5.092%
20 years 5.125% 5.198%
25 years 5.625% 5.688%
30 years 5.750% 5.806%
  • Maximum Percentage Financed: 95%4
  • Maximum Loan Amount: $1,000,000
  • Borrow $100,000 at 5.750% with 360 monthly principal and interest payments of approximately $583.57.

Adjustable-Rate Mortgage (ARM)

Please contact DCECU’s Mortgage Department for current rates.

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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

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