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DCU Routing Number: 211391825

DCU Assistant

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See Mortgage Options

DCU offers a variety of loan options to choose from including adjustable rate mortgages and fixed rate mortgages.


Please note, membership is required to accept a DCU mortgage.  Visit our member eligibility page for more information.

Is It a Good Time to Buy a Home?

Couple signing a contract on a mortgage loan

The window of opportunity is open for homebuyers, but there’s more to consider than current housing market conditions. What matters most is what’s happening in your financial life, and if it’s a good time for you to buy a home. Reviewing these factors can help you decide if you’re ready for homeownership:

  • Estimate your income. Taking a close look at your past sources of income is a good place to start – you’ll need to show proof of your income when applying for a mortgage. Typically, lenders will want to see at least two years of steady income history. It also helps to look forward and consider your job security in the months ahead. Knowing where you stand and planning for potential changes in your income can help you avoid taking on too much mortgage debt.

  • Assess your budget. Decide how much home you can comfortably afford. (Try our calculator.) Typically, your monthly payment should be no more than 28% of your gross income. Once you have estimated your monthly payment, create a budget with your new house payment included so you can see how paying a mortgage would affect your budget.

  • Deal with debt. Ideally, your monthly debt payments (i.e., credit cards, student loans, and auto loans) plus your mortgage payment shouldn’t exceed 43% of your income. Before taking on more debt, you should make a plan for paying off debt now and in the future.

  • Save for a down payment and closing fees. Saving for a down payment puts you in a stronger position to buy a home. Having money to put down on a house could help you to qualify for better interest rates, afford more home, and start out with more equity. As you assess your budget and begin saving, you will be able to project how much you can put toward a down payment.

Ready to Make Your Move?

If you’re ready to buy a home, taking a proactive approach to the homebuying process can help you succeed. Getting prequalified for a DCU mortgage can help you be prepared to make an offer when the time is right.

Please note, membership is required to accept a DCU mortgage. Visit our member eligibility page for more details.

This article is for informational purposes only. It is not intended to serve as legal, financial, investment or tax advice or indicate that a specific DCU product or service is right for you. For specific advice about your unique circumstances, you may wish to consult a financial professional.