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Reduce monthly payments, your rate or put your home's equity to good use. DCU offers fixed and adjustable-rate mortgage loans to help you choose the refinance option that's right for your financial goals.
How Much Could Refinancing Save You? There are many factors you should consider when refinancing a mortgage. Use our mortgage refinance calculators to estimate the cost and potential savings. Try Our Calculators
Same rate for the life of the loan.
GET MY QUOTE1. 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.
Choose from our easy to use calculators to plan for your mortgage refinance.
Frequently asked questions and answers to help manage and plan for your mortgage.
Plan on up to 60 days to close on your new mortgage. Keep in mind that things like your appraisal or a delay in providing necessary documentation may slow down the process.
A cash out refinance allows you to tap into the equity in your home. After you close, you’ll receive a check for the difference between your current mortgage payoff + closing costs and your loan amount. A rate and term refinance changes your interest rate and/or the term (length) of your mortgage, typically loan amount remains the same unless you wish to roll closing costs in.
A refinance may change your monthly payments, though every situation is different. Depending on the purpose of your refinance – lowering your interest rate, changing your term, cash-out refinance – your payments may decrease, increase, or stay largely the same. Utilize our DCU refinance calculator or schedule an appointment to speak with one of our experienced Loan Originators
In general, you can expect to pay 2-5% of your loan balance in closing costs. Speak with your Loan Originator for more details. You may be able to roll your closing costs into your loan amount, so no amount is due at the closing table. The amount will vary depending on escrow, taxes, insurance, pre-paid interest or if you pay points to buy down your interest rate.
Ready to apply or need assistance? Contact a Mortgage Loan Originator for help completing an application.
Here’s why you should check out your credit union when considering your options for a home refinance.
Read ArticleRefinancing to a lower rate could free up more money in your monthly budget and save you thousands of dollars in interest charges over the life of the loan.
Read ArticleLooking to take advantage of the equity you’ve built in your home? DCU explains how cash-out refinancing works and when it makes financial sense.
Read ArticleThe advertised rates are for loans up to $647,200 and reflect the lowest available rate. Payment examples do not include taxes or insurance premiums, payment obligation will be higher.
Terms | Interest Rate | APR¹ | EMP² per $1,000 |
---|---|---|---|
30 Years Fixed | 5.250% | 5.29% | $5.52 |
20 Years Fixed | 4.875% | 4.93% | $6.53 |
15 Years Fixed | 4.375% | 4.45% | $7.59 |
10 Years Fixed | 4.250% | 4.35% | $10.24 |
The advertised rates are for loans over $647,200 and reflect the lowest available rate. Payment examples do not include taxes or insurance premiums, payment obligation will be higher.
Terms | Interest Rate | APR¹ | EMP² per $1,000 |
---|---|---|---|
30 Years Fixed | 5.250% | 5.26% | $5.52 |
20 Years Fixed | 4.875% | 4.89% | $6.53 |
15 Years Fixed | 4.375% | 4.40% | $7.59 |
10 Years Fixed | 4.250% | 4.28% | $10.24 |
¹APR = Annual Percentage Rates are subject to change at any time. Rates are determined by creditworthiness, loan-to value (LTV), occupancy status, property type and loan purpose, so your rate could be higher. All loans are subject to approval, other conditions may apply.
²EMP = Estimated Monthly Payment is for principal and interest per $1,000 borrowed.
The advertised rates are based on a 30-year term, for loans up to $647,200 and reflect the lowest available rate. Payment examples do not include taxes or insurance premiums, payment obligation will be higher.
ARM Program¹ | Initial Interest Rate Period | Initial Interest Rate | APR² | 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 |
---|---|---|---|---|---|---|---|---|
5/1 ARM | 5-Years | 4.000% | 4.04% | 60 | $4.77 | 4.00% | 300 | $4.77 |
5/5 ARM | 5-Years | 4.500% | 4.78% | 60 | $5.07 | 4.89% | 300 | $5.30 |
7/1 ARM | 7-Years | 4.500% | 4.28% | 84 | $5.07 | 4.00% | 276 | $4.77 |
10/1 ARM | 10-Years | 4.625% | 4.43% | 120 | $5.14 | 4.00% | 240 | $4.77 |
The advertised rates are based on a 30-year term, for loans over $647,200 and reflect the lowest available rate. Payment examples do not include taxes or insurance premiums, payment obligation will be higher.
ARM Program¹ | Initial Interest Rate Period | Initial Interest Rate | APR² | 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 5/1 ARM | 5-Years | 4.000% | 4.01% | 60 | $4.77 | 4.00% | 300 | $4.77 |
Jumbo 5/5 ARM | 5-Years | 4.500% | 4.75% | 60 | $5.07 | 4.89% | 300 | $5.30 |
Jumbo 7/1 ARM | 7-Years | 4.500% | 4.25% | 84 | $5.07 | 4.00% | 276 | $4.77 |
Jumbo 10/1 ARM | 10-Years | 4.625% | 4.40% | 120 | $5.14 | 4.00% | 240 | $4.77 |
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 12 months or 5 years based on a current index, depending on the ARM program you choose. For example, if you select the 5/1 ARM program your rate and principal & interest payment will be fixed for the first 5 years (the 5 in 5/1), after that the interest rate and payment could change every year for the remainder of the mortgage's term (the 1 in 5/1).
²APR = Annual Percentage Rates are subject to change at any time. Rates are determined by creditworthiness, loan-to value (LTV), occupancy status, property type and loan purpose, so your rate could be higher. All loans are subject to approval, other restrictions may apply.
³EMP = Estimated Monthly Payment is for principal and interest per $1,000 borrowed.
MANAGING YOUR MONEY ANYWHERE AND AT ANY TIME WITHOUT VISITING A BRANCH.
On Balances Up to and Including $100,000.