Benefits of a DCU Membership
Learn more about our commitment to help members achieve financial wellness.
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Home Mortgage Loans
We’re here to guide you through your homebuying journey with mortgage options that fit your needs.
FIRST-TIME HOMEBUYER?
Our Mortgage Learning Center will help you gain a better understanding of the mortgage process – from prequalification to keys in hand.
PURCHASE ADJUSTABLE-RATE MORTGAGE
Membership Required
1. Eligibility by Family Relationship to a Current DCU Member
Relatives of DCU members are eligible to join if they are spouses, domestic partners, children grandchildren, parents, grandparents or siblings (including adoptive in-law, and step relationships).
2. Eligibility by Company You Work for or Retired From
You currently work for or retired from a company in our list of participitating employers.
You have a family relationship (as described above) to a non-member who currently works for or retired from a company or organization in our field of membership.
3. Eligibility by Organization You Belong To
You currently belong to or join an organization whose members we serve.
You have a family relationship (as described above) to a non-member who belongs to an organization in our list of participating organizations.
4. Eligibility by Community
You are automatically eligible to join DCU if you live, work, worship, or attend school in one of the communities in our list. Any business or other legal entity located in one of these areas is also automatically eligible to join.
Membership Required
1. Eligibility by Family Relationship to a Current DCU Member
Relatives of DCU members are eligible to join if they are spouses, domestic partners, children grandchildren, parents, grandparents or siblings (including adoptive in-law, and step relationships).
2. Eligibility by Company You Work for or Retired From
You currently work for or retired from a company in our list of participitating employers.
You have a family relationship (as described above) to a non-member who currently works for or retired from a company or organization in our field of membership.
3. Eligibility by Organization You Belong To
You currently belong to or join an organization whose members we serve.
You have a family relationship (as described above) to a non-member who belongs to an organization in our list of participating organizations.
4. Eligibility by Community
You are automatically eligible to join DCU if you live, work, worship, or attend school in one of the communities in our list. Any business or other legal entity located in one of these areas is also automatically eligible to join.
Benefits
- Conventional and Jumbo Loans – Find the right mortgage for your needs with fixed and adjustable-rate options for both conventional and jumbo loans.
- Flexible Down Payment Options – Pay as little as 5% down for conventional loans or 3% down for eligible applicants.*
- Simple Online Application – Compare mortgage options and apply in minutes with our streamlined quote and application process.
- Lifetime DCU Servicing – We’ll service your loan as long as you have it. No need to worry about making payments to a different lender or prepayment penalties.
Mortgage Calculators
Choose from our easy to use calculators to plan for your home purchase.
- Mortgage Payment Calculator
- How much home can I afford?
- Which mortgage is better for me?
Plan for Your Mortgage Loan
Frequently asked questions and answers to help manage and plan for your mortgage.
Closing costs vary by state, property type and credit. They include taxes and government fees, legal services, fees to the lender for processing the mortgage and other fees. In addition to closing costs, the borrower must also pay for certain pre-paid items including daily interest, tax escrow deposit (when escrowing for property taxes) and homeowner’s insurance.
For a quote, use our Personalized Quote tool . Once an application is submitted, we’ll provide a Loan Estimate which will provide you with an estimate of the costs associated with your specific scenario.
Prequalifications and preapprovals are two ways to verify if a potential borrower can afford a mortgage. Borrowers apply for prequalification while they are searching for a home. Prequalification allows you and sellers to estimate how much you can afford. At DCU, prequalification is the initial step to applying for a mortgage for home purchase.
The actual cost of credit to the borrower including interest and certain other charges calculated over the life of the loan and expressed as a yearly rate. APR can be used as a guide to compare the true cost of loans, since costs can vary across loan options.
A Fixed Rate Mortgage is a loan with a set interest rate and equal monthly principal and interest payments for the entire term of the loan. An Adjustable-Rate Mortgage is a loan in which your principal and interest payment and rate will be fixed for the first 5, 7, or 10 years, depending on the term you choose, and then adjust to a new rate and payment that can change periodically after that.
DCU offers mortgages for the purchase of homes in all 50 states.
Once your application is submitted, DCU will order an appraisal on the property to ensure that its market value sufficiently exceeds the amount of the loan. If you have an appraisal that was already completed but was not done through DCU, it cannot be used for a new application. You may qualify for an appraisal waiver from the GSE that DCU underwrites to. They will make the determination and notify DCU if that option is available to you.
A rate lock is a process in which we “lock in” your interest rate, ensuring that it will not change through the closing of your loan. Rates may not be locked for prequalification/preapprovals. For Purchases, you may lock your interest rate within 60 days of your closing date. For all loan types, the rate must be locked at least 14 days prior to closing. If the rates go down, the interest rate effective for your rate lock still applies. If your rate lock expires, and the market rates increase, your loan will be based on the new prevailing rates.
PMI stands for Private Mortgage Insurance and is a monthly insurance premium paid by the borrower for the cost of insurance that covers the lender in the event the borrower defaults on the loan. It is required when the borrower is putting less than 20% down.
Yes. One of the benefits of financing with DCU is that we will service your loan as long as you have it. No need to worry about making payments to a different lender or prepayment penalties.
Contact Us
TALK TO US
Ready to apply or need assistance? Contact a Mortgage Loan Originator for help completing an application.
888.888.8328EMAIL US
Prefer to send your questions via email? Reach out to our Mortgage Team and someone will respond as soon as possible. For security purposes, please do not share personal financial information in the email.
mortgageoriginations@dcu.orgTake the Next Step
Prequalification
Your dream home is still out there, and prequalification can get you one step closer – helping you make a strong offer when you find it.
Schedule an Appointment
Not sure where to start? Schedule a phone appointment with a Mortgage Loan Originator. They’ll help you with your new home purchase.
Mortgage Learning Center
Start your homebuying journey with tools, resources, and expert knowledge about the mortgage
process.
Find the Right Mortgage Option
FIXED-RATE MORTGAGE
- Lock in a low interest rate for the length of the loan.
- Your monthly principal and interest payments will never change.
- Designed for people who would like to stay in their home for the long haul.
ADJUSTABLE-RATE MORTGAGE
- Enjoy a low interest rate which adjusts periodically after the initial term.
- Monthly payments may increase or decrease as rate adjusts.
- This loan appeals to buyers who plan to move or refinance in the short term.
JUMBO MORTGAGES
- Mortgage financing for high-value home purchases.
- Available in both fixed and adjustable loan types.
- Specialized for those borrowing above conventional limit (currently $766,550).
Mortgage Rates
- Fixed-Rates
- Adjustable-Rates
PURCHASE FIXED-RATE MORTGAGES
The advertised rates are for conforming loans with an example loan amount of $350,000 and are based on the loan assumptions noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
| Terms | Interest Rate | APR¹ | Points | EMP² per $1,000 |
|---|---|---|---|---|
| 30 Years Fixed | 6.250% | 6.427% | 1.500% | $6.16 |
| 20 Years Fixed | 5.875% | 6.026% | 0.875% | $7.09 |
| 15 Years Fixed | 5.500% | 5.708% | 1.000% | $8.17 |
| 10 Years Fixed | 5.375% | 5.615% | 0.750% | $10.79 |
Rates are effective
PURCHASE JUMBO FIXED-RATE MORTGAGES
The advertised rates are for non-conforming loans with an example loan amount of $850,000 and are based on the loan assumptions noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
| Terms | Interest Rate | APR¹ | Points | EMP² per $1,000 |
|---|---|---|---|---|
| Jumbo 30 Years Fixed | 6.250% | 6.407% | 1.500% | $6.16 |
| Jumbo 20 Years Fixed | 5.875% | 6.001% | 0.875% | $7.09 |
| Jumbo 15 Years Fixed | 5.500% | 5.677% | 1.000% | $8.17 |
| Jumbo 10 Years Fixed | 5.375% | 5.571% | 0.750% | $10.79 |
Rates are effective
¹APR = Annual Percentage Rate. Rates are based on current pricing and are subject to change at any time without notice. Rates are determined by certain factors, including loan amount, creditworthiness, loan-to-value (LTV), loan term, occupancy status, property type, loan purpose, property location, and lien position, so your rate could be higher. Advertised rates are based on the following loan assumptions – a purchase of a single-family, owner-occupied residence, with an LTV of 60% or less, a credit score of 740 or higher, based on a loan term displayed above, and the loan will be a first lien. Additional loan programs are available. Mortgage insurance may be required depending on loan guidelines. All loans are subject to approval, other conditions may apply.
²EMP = Estimated Monthly Payment is for principal and interest per $1,000 borrowed.
PURCHASE ADJUSTABLE-RATE MORTGAGE (ARM) RATES
The advertised rates are for conforming loans with a loan example of $350,000 and are based on the loan assumptions noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
| ARM Program¹ | Initial Interest Rate Period | Initial Interest Rate | APR² | Points | Initial Rate Period # Monthly Payments | Initial Rate Period EMP Per $1000³ | Fully Indexed Rate | Fully Indexed Rate # Monthly Payments | Fully Indexed Rate EMP Per $1000³ |
|---|---|---|---|---|---|---|---|---|---|
| 5yr/6mo | 5-Years | 6.000% | 7.049% | 0.500% | 60 | $6.00 | 7.625% | 300 | $6.95 |
| 7yr/6mo | 7-Years | 6.000% | 6.846% | 0.375% | 84 | $6.00 | 7.625% | 276 | $6.90 |
| 10yr/6mo | 10-Years | 5.875% | 6.571% | 0.750% | 120 | $5.92 | 7.625% | 240 | $6.78 |
Rates are effective
PURCHASE JUMBO ADJUSTABLE-RATE MORTGAGE (ARM) RATES
The advertised rates are for non-conforming loans with a loan amount of $850,000 and are based on the loan assumptions noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
| ARM Program¹ | Initial Interest Rate Period | Initial Interest Rate | APR² | Points | Initial Rate Period # Monthly Payments | Initial Rate Period EMP Per $1000³ | Fully Indexed Rate | Fully Indexed Rate # Monthly Payments | Fully Indexed Rate EMP Per $1000³ |
|---|---|---|---|---|---|---|---|---|---|
| Jumbo 5yr/6mo | 5-Years | 6.000% | 7.016% | 0.500% | 60 | $6.00 | 7.625% | 300 | $6.95 |
| Jumbo 7yr/6mo | 7-Years | 6.000% | 6.814% | 0.375% | 84 | $6.00 | 7.625% | 276 | $6.90 |
| Jumbo 10yr/6mo | 10-Years | 5.875% | 6.539% | 0.750% | 120 | $5.92 | 7.625% | 240 | $6.78 |
Rates are effective
¹ARM loans are variable rate loans, interest rates and payments may increase after consummation. Rates and payments will remain the same for the first 5, 7, or 10 years and then can adjust to a new rate and payment every 6 months based on a current index, depending on the ARM program you choose. For example, if you select the 5yr/6mo ARM program your rate and principal & interest payment will be fixed for the first 5 years (the 5 in 5yr/6mo), after that the interest rate and payment could change every 6 months for the remainder of the mortgage's term (the 6 in 5yr/6mo).
²APR = Annual Percentage Rate. Rates are based on current pricing and are subject to change at any time without notice. Rates are determined by certain factors, including loan amount, creditworthiness, loan-to-value (LTV), loan term, occupancy status, property type, loan purpose, property location, and lien position, so your rate could be higher. Advertised rates are based on the following loan assumptions – a purchase of a single-family, owner-occupied residence, with an LTV of 60% or less, credit score of 740 or higher, based on an ARM program displayed above, and the loan will be a first lien. Additional loan programs are available. Mortgage insurance may be required depending on loan guidelines. All loans are subject to approval, other conditions may apply.
³EMP = Estimated Monthly Payment is for principal and interest per $1,000 borrowed.
Membership Eligibility
1. Eligibility by Family Relationship to a Current DCU Member
Relatives of DCU members are eligible to join if they are spouses, domestic partners, children grandchildren, parents, grandparents or siblings (including adoptive in-law, and step relationships).
2. Eligibility by Company You Work for or Retired From
You currently work for or retired from a company in our list of participitating employers.
You have a family relationship (as described above) to a non-member who currently works for or retired from a company or organization in our field of membership.
3. Eligibility by Organization You Belong To
You currently belong to or join an organization whose members we serve.
You have a family relationship (as described above) to a non-member who belongs to an organization in our list of participating organizations.
4. Eligibility by Community
You are automatically eligible to join DCU if you live, work, worship, or attend school in one of the communities in our list. Any business or other legal entity located in one of these areas is also automatically eligible to join.
You’re an owner, not a number.
DCU is a not-for-profit, member-owned credit union that puts you first. And unlike banks, we don’t answer to the needs of stockholders.
Community Involvement
DCU takes pride in sponsoring and participating in charitable, educational, and other community events – from providing college scholarships to supporting local non-profits.
Better rates and lower fees.
As a credit union, DCU returns its profits to members by keeping fees to a minimum, loan rates low, and offering higher-than-average interest rates on savings.
Financial Education
From childhood through adulthood, DCU has the tools and resources members need to better manage their finances.
* Only available with Fixed-Rate Mortgages – 1-unit owner occupied purchase transaction of primary residences are eligible for this 30-year program with lender paid mortgage insurance. Borrowers cannot own additional residential property at closing. Not available for Jumbo Mortgages. Other terms and restrictions apply. Back to eligible applicants ^
853 Donald Lynch Boulevard
PO Box 9130
Marlborough, MA 01752-9130
ABA Routing Number: 211391825
NMLS# 466914
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