Welcome Home Loans
DCCU's Welcome Home loans are designed to provide affordable financing options for home buyers.
Our suite of Welcome Home Loans includes:
- 100% financing - DCCU's 100% financing option is a 5/1 Adjustable Rate Mortgage (ARM). Closing cost credits are available with this option.
- Low down payment options
- 5/1 ARM with 3% down and lender-paid private mortgage insurance. Closing cost credits are available.
- 5/1 ARM with 10% down and no private mortgage insurance is required. Closing cost credits are available.
- Fannie Mae's Home Ready Option - Fixed rate mortgage with 3% down and private mortgage insurance required.
- USDA Rural Development loans - A USDA home loan can be a good option for those with little or no down payment, however not all properties are eligible.
- FHA loans - An FHA home loan can be a good choice if you have a small down payment or difficulty qualifying for a traditional mortgage. Buyers can finance up to 97% of the home loan, and 100% of the closing costs can be a gift. There are no minimum income requirements for an FHA loan, but borrowers must meet state-specific debt ratios.
Contact the DCCU Mortgage Advisor near you to see how the DCCU Welcome Home Mortgage could be the right home loan for you.
*Closing costs credit only applies to ARMs that close and fund. No credits will be applied if your loan does not close with DCCU. ARM rates are adjustable. The 5/1 ARM rate will adjust at the end of the 5-year term and is tied to the 1 Year Constant Maturity Treasury Rate. The max rate increase at the end of 5 years is 2.50%, with a 6% increase lifetime cap. Example loan: $120,000 loan amount, 3.90% entry rate and 3.36% APR, $566.00 per month principal and interest payment. Rates, terms, index margin, and conditions are subject to change at any time and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to credit approval and certain restrictions apply.