Our up-to-date Mortgage rates are available on our web site, at any DCU branch, or by calling the Information Center at 508.263.6700 or 800.328.8797.

A point is 1% of your total loan amount. For example: one point for $100,000 mortgage is $1,000.

Closing costs are approximately $1,900 – $2,100 (not including points) per $100,000 depending on the state you are purchasing your home in.

DCU can mail an application to your home. Or, you can apply online.

Yes.

Yes, in most cases closing costs can be rolled into your loan amount.

DCU's application fee is $300.

After reviewing your application with a Mortgage Representative you are able to lock in your rate.

Yes, $350. Or, if you choose a zero or no point option, the rate lock fee will be refunded to you at the time of closing. Otherwise, the fee is applied to your closing costs.

Yes. For as long as you have it.

A new law requires Freddie Mac, Fannie Mae or the Federal Home Loan Bank to send informational letters when they buy or sell your mortgage. If you get (receive) one regarding your DCU mortgage, it's no cause for concern.

Freddie Mac and Fannie Mae are short names for two government sponsored enterprises that buy home mortgages from financial institutions. The Federal Home Loan Bank (FHLB) also buys mortgages. They provide financial institutions a steady stream of funds they can use to fund consumers' mortgages. This allows more people to buy homes.

We often sell mortgages we write to one or more of these institutions so we can meet our members' needs. Whether we hold or sell the loan, we always retain responsibility for accepting your loan payments, giving you convenient access to your account, and providing service - known as loan servicing. If you get a mortgage from DCU, you'll have DCU service for the life of your loan. On Friday, June 19, 2009, Freddie Mac will begin notifying borrowers by letter when their mortgage loan is assigned, sold or transferred to Freddie Mac or to a trust for which Freddie Mac serves as trustee. This notification is for informational purposes only and is consistent with Section 404 of the Helping Families Save Their Homes Act of 2009, which was enacted on May 20, 2009. It also applies to Fannie Mae and the FHLB.

It is the total loan amount divided by the value of your property.

DCU will escrow your taxes if your loan to value is greater than 80% or if the property is an investment.

Private Mortgage Insurance is required with a loan to value over 80%.

On a 1-2 unit primary residence or second home you may borrow up to 80% of the property value in a first mortgage. DCU also offers many second mortgage products for debt consolidation.

Yes. With DCU you can finance a second home or an investment property up to a 4 family unit.

You can contact our Commercial Loan department for a commercial mortgage.

A Jumbo Mortgage is a mortgage amount in excess of $417,000 for a one family unit property.

Your mortgage is with DCU. We'll service your mortgage (accept payments and handle escrow) for as long as you have it.

If you have any other questions regarding the mortgage products and services offered by DCU, please call our Information Center.

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