DCCU Routing # 251483311
DCCU’s Welcome Home Loans are designed to provide affordable financing options for home buyers.
Your Mortgage Options
Fixed-Rate Mortgage
- Principal and interest payments are level for the life of the loan (monthly payments may vary based on changes to taxes, insurance, etc.)
- A variety of terms are available, including 30, 20, and 15 year terms
- Good for long-term living
- Refinancing is required to receive a lower interest rate in the future
- Borrowers do not get the benefit of a lower initial rate (as compared to an ARM)
Adjustable-Rate Mortgage
- Interest rates are fixed for the first 3 years (with a 3/1 ARM) or 5 years (with a 5/1 ARM or 5/5 ARM)
- ARMs can feature lower rates and payment early in the loan term. Lower rates allow for the principal to be reduced more quickly.
- Monthly payments may adjust in the future as the interest rates change
- For qualified borrowers you can get up to 100% financing with Private Mortgage Insurance
Government Loans
FHA | 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 put down as little as 3.5% of the purchase price.
VA | A qualified veteran can purchase a home with no down payment through DCCU.
USDA Rural Development Loan | This home loan can be a good option for those with little or no down payment. Income and geographic restrictions apply.
Land Loans
A land loan is a way to finance a property that doesn’t have a house built on it. This loan allows you to secure the location of your next home before you start the construction process.
- 1-year adjustable-rate mortgage loan with a 10 year or 20-year term
- Make a 10% down payment when purchasing up to 20 acres
- Purchase land anywhere in Virginia
Resources
3 Advantages of Homeownership
Becoming a homeowner brings a lot of responsibility, but also offers several rewarding benefits. Here are just three of the advantages to owning a home.
Read Blog
Mortgage Calculator
Use the mortgage calculator to calculate your estimated monthly payment. Our mortgage team is happy to help you find the right home loan for your situation and guide you through the lending process.
Estimate Now
4 Reasons to Choose a Local Mortgage Lender
Buying a home is likely one of the largest purchases most people will make in their lifetime. Selecting the right mortgage lender involves more than just getting a good interest rate. You want to choose a lender that is accessible and has your best interest in mind.
Read Blog
Contact Us
Local Calls: 540.946.3200
Out of Area Calls: 800.245.8085
P.O. Box 1365,
Waynesboro, VA 22980
Local Calls: 540.946.3200
Out of Area Calls: 800.245.8085
P.O. Box 1365, Waynesboro, VA 22980
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