DCECU Mortgages & Home Equity Loans

All Loans Are Not Created Equal

All mortgages and home equity loans are not the same, and it’s important to understand the differences. When it comes to buying a home or borrowing from your home’s equity, there are many financing options available.


Purchasing a home? Before you start searching the Web and local real estate guides, talk to DCECU about which mortgage option is right for you. DCECU offers mortgages with affordable rates and easy terms for homes located in Michigan. We may even be able to finance your second home1. Also, many of our mortgage loans qualify for the potential year-end Member Giveback and Loan Interest Rebate.2

DCECU’s Conventional Fixed Rate First Mortgage is a great option for many members. This loan offers the same monthly payment and interest rate throughout the life of the loan. 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.

Additionally, DCECU offers Jumbo Mortgages with loan amounts available up to $1,000,000.

Home Equity Loans

Spending your savings on a major expense doesn’t always make sense. A better solution for homeowners may be a Prime Home Equity Line-of-Credit (HELOC) or a Single Advance Home Equity Loan from DCECU. A HELOC or Home Equity Loan can be used for major purchases, remodeling projects, home repairs, emergencies, or to pay off higher-rate debt.

Both the Prime Home Equity Line-of Credit and Single Advance Home Equity Loan offer loan amounts up to $250,000 and are available on primary and secondary non-income producing properties located in Michigan.

Learn more and apply today.

  1. Limited to non-income producing homes located within Michigan. ↩︎

  2. Please note that while year-end rebates and rewards occur with great regularity, this credit union benefit is not guaranteed. ↩︎