DCCU Routing # 251483311

Navigating the Home Buying Process

Purchasing your first home or making the decision to buy a new home are important decisions, and a little knowledge about the home buying process will go a long way in preparing you for the journey.  Whether you need some advice from a Mortgage Advisor, want to learn more about the process, or are ready dive into homeownership, DCCU is here to help you navigate the process with ease.

Welcome Home Loans

Whether you’re a first time home buyer, ready for your next home, or are looking to refinance, DCCU has the right mortgage option for you. Contact us today!

The DCCU Mortgage Lending Experience

1. Contact – You contact DCCU to prepare for your application

2. Gather – You gather your income and asset documentation

3. Apply – You apply with a Mortgage Advisor for pre-qualification

4. Shop – You find a property, make an offer, and sign a contract

5. Order – DCCU orders third party services such as appraisal and title

6. Prep – DCCU prepares your file for underwriting

7. Underwrite – DCCU validates all submitted documentation and then formally approve or deny your loan

8. Satisfy – DCCU satisfies conditions such as appraisal, title, assets, and employment verification

9. Clear – DCCU clears the file for closing

10. Close – You sign closing documents and get the keys to your new home

Your Mortgage Options

  • 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)
  • Interest rates are fixed for the first 3 years (with a 3/1 ARM) or 5 years (with a 5/1 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
Front porch of home with a porch swing

FHA | An FHA home loan can be a good choice if you have a small down payment or difficultly 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.

neighborhood with American flags on porches

Mortgage Resources


Contact a DCCU Mortgage Advisor 

At DCCU, we understand that purchasing or refinancing a home is one of the biggest decisions you'll make. That's why we provide both great rates and personal service to our members.

Complete the short form below to have one of our mortgage experts contact you to answer any home loan questions you may have.

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*Eligibility for VA/Military loans is determined by a set of criteria specified by the Department of Veterans Affairs. Eligible Service Personnel includes Active Duty, Selected Reserves or National Guard, Unremarried Surviving Spouses/Spouses of POW or MIA Serviceperson, and personnel discharged under other than dishonorable conditions.