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Fixed-Rate Mortgages

Interest rate and monthly payment remain the same for life of the loan




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fixed rate mortgages

Fixed-Rate Mortgage Features

  • Same rate and payment for the life of your loan
  • Competitive rates for loans up to and over $417,000
  • Up to 30 year term
  • Loans up to 95% of home value
  • 97% purchase program (3% down) – 1 unit primary residence*
  • No point and no point/no closing cost options
  • DCU service for the life of your loan
  • For home purchase or refinance
  • Borrow for 1 to 4 family primary residences
  • Borrow for second homes or investment properties
  • Can use to finance condominiums and townhouses
  • Construction to permanent financing loans in MA and NH

Please refer to Details and Rates tabs for more information.

* Requires that at least one borrower must be a first-time home buyer.

"Excellent Service"

Open quote DCU listened to our needs and delivered a mortgage that met both our financial and logistical needs. It is good to be with a financial institution that takes care of their members with high service. Close quote

— Susan, Boston, MA

Fixed-Rate Mortgage Features

Because the rate and monthly payment stay the same for the life of the loan, Fixed-Rate Mortgages (especially the 30-Year Fixed) are the most popular type of mortgage. It's also the reason why the starting rate is usually higher than other options. Learn more about when a Fixed-Rate Mortgage is the right choice.

Main Benefits of the Fixed-Rate Mortgage

  • Rate and monthly payment stay the same for the life of your loan
  • Competitive rates for loans up to and over $417,000
  • Up to 30-year term – A longer term helps keep monthly payments more affordable. A shorter term saves you interest and builds equity faster.
  • Loans up to 95% of home value – However, if you borrow no more than 80%, you'll avoid the expense of private mortgage insurance (PMI). Loan to value is determined by the total loan amount divided by the home value. The home value is the lesser of either the purchase price or appraised value.
  • 97% purchase program (3% down) – 1 unit primary residence only. Mortgage insurance required. Cannot own additional properties at the time of closing. Requires that at least one borrower must be a first-time home buyer. First-time home buyer education may be required. 30-year fixed rates only. Maximum loan amount $417,000. Other terms and restrictions apply.
  • No point and no point/no closing cost options – Available for loan amounts between $100,000 and $417,000. Covers typical closing closts. Terms and restrictions apply. If you are interested in a no point/no closing cost loan, please call us at 800.328.8797.
  • DCU service for the life of your mortgage – We'll handle all your payments, escrow, and questions. You'll have access to your mortgage account through Online Banking, Easy Touch Telephone Teller, DCU ATMs, and our branches for getting information and making electronic payments. Most important, you'll never have to worry about late or missing payments if your mortgage is sold.
  • For home purchase or refinance
  • Borrow for 1 to 4 family primary residences
  • Borrow for second homes or investment properties
  • Can use to finance condominiums and townhouses
  • Construction to permanent financing loans in MA and NH

When is a Fixed-Rate Mortgage the right choice?

Consider your answers to these questions when considering your options...

  • Is a stable payment more important to you than the lowest rate? – Adjustable Rate Mortgages (ARMs) have lower starting rates. But if the possibility that your rate and payment could go up (or down) once every five years or less makes you nervous, stay with a Fixed-Rate Mortgage.
  • How long do you intend to live in the home? – On average, people move or refinance their mortgages every 5 to 7 years. If you expect to remain in your home longer, a 5/5 Mortgage (that can change once every five years) or a Fixed-Rate Mortgage could make more sense because your rate and payment will change less frequently or not at all. If you expect to move or refinance sooner, an Adjustable Rate Mortgage like a 5/1 may be more economical choice. You'll have a lower starting rate fixed for the first few years.
  • How high are mortgage rates in general and where might they be moving? – Predicting where mortgage rates will move is impossible to do with any certainty. Market rates are generally determined based on the inflation expectations of bond-market investors, foreign demand for US Treasury securities, and the impact of Federal Reserve monetary policy. However, we can tell you if current rates are relatively high or low based on recent history. Generally anything under 5% is low. If you'll be in a house longer than 7 years, you might prefer 5/5 Mortgage or a Fixed-Rate Mortgage. On the other hand, if rates are 9% or above, an Adjustable Rate Mortgage with a shorter fixed period may be better. Rates that high generally don't stay high for long. Your rate will adjust downward when rates fall without the cost of refinancing.

    Please refer to Features and Rates tabs for more information.

Fixed-Rate Mortgage Rates for loans up to $417,000*

Term / Property Points Interest Rate Annual Percentage Rate Estimated
Monthly Payment
per $1,000
30-Year Fixed
1 unit owner occupied, purchases only,
97% of home value
0 points 4.250% 4.33% $4.92
30-Year Fixed
Owner occupied, up to 95% of home value
2 points 3.500% 3.74% $4.49
1 points 3.625% 3.78% $4.56
0 points 3.750% 3.83% $4.63
NPNC 4.375% 4.41% $4.99
20-Year Fixed
Owner occupied, up to 95% of home value
2 points 3.375% 3.71% $5.74
1 points 3.500% 3.72% $5.80
0 points 3.625% 3.73% $5.86
NPNC 4.250% 4.29% $6.19
15-Year Fixed
Owner occupied, up to 95% of home value
2 points 2.875% 3.29% $6.85
1 points 3.000% 3.27% $6.91
0 points 3.125% 3.25% $6.97
NPNC 3.750% 3.80% $7.27
10-Year Fixed
Owner occupied, up to 95% of home value
2 points 2.625% 3.23% $9.48
1 points 2.750% 3.14% $9.54
0 points 2.875% 3.05% $9.60
NPNC 3.500% 3.56% $9.89

*Rates are effective  and are subject to change at any time. Rates locked in today for 60 days have an expiration date of . Rates apply to loans up to $417,000 (also known as "conforming mortgages").

Rates and Fees disclosed are for loans that meet Secondary Mortgage Market underwriting standards; additional rate and fees may apply for loans outside of those guidelines.

Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher.

NPNC = No Points, No Closing Costs program. The minimum loan for NPNC is $100,000.

Fixed-Rate Mortgage Rates for loans over $417,000*

Term / Property Points Interest Rate Annual Percentage Rate Estimated
Monthly Payment
per $1,000
Jumbo 30-Year Fixed
Owner occupied, up to 90% of home value
2 points 3.500% 3.71% $4.49
1 points 3.625% 3.75% $4.56
0 points 3.750% 3.80% $4.63
Jumbo 15-Year Fixed
Owner occupied, up to 90% of home value
2 points 2.875% 3.24% $6.85
1 points 3.000% 3.22% $6.91
0 points 3.125% 3.20% $6.97
Jumbo 10-Year Fixed
Owner occupied, up to 90% of home value
2 points 2.625% 3.15% $9.48
1 points 2.750% 3.06% $9.54
0 points 2.875% 2.98% $9.60

*Rates are effective  and are subject to change at any time. Rates locked in today for 60 days have an expiration date of . Rates apply to loans larger than $417,000 (also known as "jumbo mortgages"). Further restrictions apply for loan amounts over $417,000 such as credit score, Loan to Value, etc.

Rates and Fees disclosed are for loans that meet Secondary Mortgage Market underwriting standards; additional rate and fees may apply for loans outside of those guidelines.

Estimated Monthly Payment per $1000 – Loan principal and interest. If an escrow account for taxes and insurance is required, total monthly payment will be higher.

Mortgage Fees

Item Fee
Mortgage Application Fee $300
Rate Lock Fee $0*

* There is no fee to lock your rate.

Other Approximate Mortgage Costs*

Item Approximate Cost
Closing Costs $1,900-$2,100 (not including points) per $100,000**

* Private Mortgage Insurance is also required if the loan to value is greater than 80%. The "Loan to Value" is the total loan amount divided by the value of your property. The value of the property is the lesser of either the purchase price or appraised value. Secondary Market Delivery Fees may be applicable in addition to the Approximate Closing Costs.

** Depends upon the state you are purchasing your home in. Fees may increase based on credit score, down payment, purpose of loan, subordinate financing and property type. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.


Rated 4 out of 5 by 224 reviewers.
Rated 5 out of 5 by DCU made the Mortage Process Very Easy Sonya Beane was outstanding. She was vey helpful, timely and friendly. My mortgage loan was very easily reachable. Everything from preapproval to the closing was on time. I was kept informed of the status of my application. I was very satisfied with the service and I am extremely happy with DCU help in closing the home on time. July 7, 2016
Rated 5 out of 5 by Excellent Customer Service! Excellent customer service from application through closing! June 15, 2016
Rated 5 out of 5 by Always outstanding Simply said, DCU is my go to place for financial needs of any kind. It has been my sole source for mortgages for much of my life and as a 75 year old I have had a few. Whether a 1st mortgage, refinance or a second mortgage the process leaves other sources wanting. The people we deal with are always professional and helpful making the process as painless as possible. I always recommend to anyone when the subject of mortgages comes up and most often it is pursued. May 21, 2016
Rated 5 out of 5 by Fantastic service and great product offered! From the initial inquiry, to the day of closing, this process was smooth and painless. Each person that we worked with was efficient, knowledgeable, and extremely professional. May 21, 2016
Rated 5 out of 5 by This has great choices Every thing is awailable online. Easy to go through April 23, 2016
Rated 5 out of 5 by BRAVO! Best Rates and Best Service Recently completed the full cycle of shopping for a home, seeking financing and closing on property. DCU was head and shoulders above/superior to the completion in terms of finding the best mortgage rate for my needs and in providing outstanding and personal service all through the underwriting and closing process. Bravo! April 2, 2016
Rated 5 out of 5 by DCU Rate and Service outstanding Sonya Beane was outstanding! She was helpful, timely, friendly, and patient! Couldn't ask for anything more. March 28, 2016
Rated 5 out of 5 by Great Rates and Quick processing. DCU Team, I did get a chance to work with Po Yu Chen related to my first mortgage loan from DCU. I'm very much satisfied with the services provided. She is thorough and clearly communicated in each and every step of the loan process. She not only clarified all the doubts I had but also went above and beyond to help me understand the process which made the loan process look simpler. Thank You Po and DCU. Have a great day. March 16, 2016
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(22 Questions : 26 Answers)

Product Q&A

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State: Massachusetts
5 years, 1 month ago
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DCU Member
Marlborough
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Answer: 
I filled out a survey which I asked why the closing value of my old mortage was at 84k and at the closing it rose to 87k. Which caused me to bring a check to the closing when I should have been receiving one instead?Someone called from your branch and told us they would get back an answer tomorrow. I found this to be outstanding it wasn't what I expected to hear.Now it has been almost a week and not only has that person that contacted us or anyone from that office called after countless times trying to get in touch. I myself praise DCU up & down the streets. The only reason I remortgaged was to get away from BIG BANKS !!! Now it seems your treating me the same!!
NOT SO HAPPY CUSTOMER
State: New Hampshire
Age: 45-54
DCU Member for: 5 to 10 years
4 years, 4 months ago
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PUP
hUDSON
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Answer: 
You can find the term of your mortgage on your original mortgage closing documents, or simply contact us and we're happy to provide this information.
State: Massachusetts
5 years, 1 month ago
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DCU Staff
Marlborough
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State: Massachusetts
5 years, 1 month ago
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Marlborough
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Answer: 
Yes, in fact DCU was one of the few banks I found that provides this service.
State: New Hampshire
Age: 35-44
DCU Member for: 5 to 10 years
3 years, 7 months ago
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georgem
MERRIMACK
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Answer: 
We do. For current rates, please select here. For further details, please call our Information Center at 800.328.8797, option 7. To apply, please call 800.328.8797, option 3.
State: Massachusetts
5 years, 1 month ago
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DCU Staff
Marlborough
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2 answers

refi mortgage

how do i apply for a refi on my home online?
State: Massachusetts
Age: 35-44
DCU Member for: Less than 1 year
3 years, 3 months ago
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bob
tyngsboro
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Answer: 
I've done two refi's in the last year with DCU. Both were started online, but that's really only the beginning of the process. You fill out as much information as you can on the online application, then a mortgage rep contacts you and you fill him/her in on any details that may not have come across on the app. Then they send you to a web site where you digitally sign all of the initial disclosures. You will also have to scan some documents like pay stubs, 1040's, etc. and send those via email (there's a secure email system you can use). It gets reviewed, sent to the underwriters who check it, then you get a call from the closing attorney to set up a time and place to close (you have to do that part in person). In our case, the paralegal came to our house to do the closing, so it was very convenient. The process was relatively painless, and very fast and convenient.
State: Massachusetts
1 year, 8 months ago
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condo-owner515
Littleton
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Answer: 
You may easily apply for a DCU Mortgage either by calling us at 800/328-8797 option 3 or by clicking the Mortgage link below the Get A Loan area on the left side of our home page.
State: Massachusetts
3 years, 3 months ago
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DCU Staff
Marlborough
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Hi,

my wife and I just recently moved to Montana and established our primary residence in Bozeman, Montana. We have all our accounts (checking, savings, etc.) with DCU.

We are looking to buy a home (most likely townhouse or condo) in Bozeman in 2015. Would it be possible to use a mortgage from DCU to purchase a home in the Bozeman area?

Are there any special requirements which would become relevant (i.e. higher down payment, etc.) to qualify for a DCU mortgage in this case?

Best Regards
State: Montana
Age: 25-34
DCU Member for: 1 to 4 years
1 year, 9 months ago
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BoonMonkey
Bozeman
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Answer: 
I live in Michigan, and I recently got the mortgage loan with DCU, and as far as I know there is not difference in the processing, you may contact the mortgage agents to be sure about your question.
State: Michigan
Age: 25-34
DCU Member for: 5 to 10 years
11 months ago
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Naga
FARMINGTON HILLS
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Answer: 
DCU offers Mortgages to members in all 50 States. You can certainly apply for a pre-approval prior to beginning your home search next year, so everything is in order beforehand.
State: Massachusetts
 
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1 year, 9 months ago
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Marlborough
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State: Massachusetts
5 years, 1 month ago
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Marlborough
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Answer: 
You can. To refinance your mortgage, you will need to contact our Information Center at 800.328.8797, option 3. You can also apply online to obtain cash at closing. Please be aware that closing costs and delivery fees will apply in this circumstance. For details, please ask your mortgage processor when you call.
State: Massachusetts
5 years, 1 month ago
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Marlborough
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"Low Closing Costs"

Open quote The mortgages from DCU are always right - great rates, low closing costs, and easy automatic payments, coupled with a quick and pain free closing. Close quote

— JLDK, Carlisle, MA

How to Apply for a DCU Fixed-Rate Mortgage

  1. Apply or get pre-qualified online – 24 hours a day, 7 days a week.
  2. Apply or get pre-qualified by phone – Call 508.263.6700 or 800.328.8797 (select 3) anytime Monday through Friday 8:00 am to 9:00 pm or Saturday 9:00 am to 3:00 pm, Eastern Time. A representative will guide you through the entire application process.
  3. At any DCU branch – Visit your local branch during normal business hours.

"10-Year Fixed Rate"

Open quote The fixed rate works for me in this economy. I know what my payment each month will be. Also the auto payment every month makes it very easy for me, no missed or late payments. Close quote

— Scrappy, Snowflake, AZ

Mortgage Tools and Resources

Related Links

  • How finance charges are computed – This page explains how to calculate the interest on your loan.
  • StreetWise Guide to Credit and Credit Management –Get and keep a good credit rating. Recognize and deal with credit problems.
  • Payment Protection – Ease your loan payments, protect your family, and safeguard your credit rating. Payment Protection offered by DCU helps relieve the financial stress and worry related to making loan payments when your life takes an unexpected turn.
  • Homeowners Insurance through DCU Insurance – DCU Insurance offers insurance with the personal service you deserve. So whether you have Homeowners Insurance or need it, DCU Insurance could be the right choice for you.
  • DCU Realty – DCU Realty is a full-service real estate agency serving home buyers and sellers in Massachusetts and New Hampshire. Our team of certified buyer agents can show you any home on the market with no out of pocket cost to you. Put a licensed DCU Realty professional on your side before you start your home buying process so you can get the best home on the market at the best price.

 

Digital Federal Credit Union

220 Donald Lynch Boulevard

PO Box 9130

Marlborough, MA 01752-9130

508.263.6700  |  800.328.8797

ABA Routing Number: 211391825

    

Federally Insured by NCUA

Equal Housing Opportunity

NMLS#: 198524

© 2016 Digital Federal Credit Union

DCU Insurance

220 Donald Lynch Boulevard

Marlborough, MA 01752-9130

800.328.8797, ext. 6978

Email: insurance@dcu.org

DCU Insurance (DCU Financial Insurance Services, LLC) is an affiliate of Digital Federal Credit Union (DCU). Business conducted with DCU Insurance is separate and distinct from any business conducted with the credit union. Remember that any insurance required as a condition of the extension of credit by DCU need not be purchased from DCU Insurance but may, without affecting the approval of the application for credit, be purchased from an agent or insurance company of the member's choice. Insurance products are not deposits of DCU and are not protected by the NCUA. They are not an obligation of or guaranteed by the credit union and may be subject to risk. If you have any concerns or complaints regarding this relationship, you may contact the MA Office of Consumer Affairs, or the insurance department of your state. For information on how to contact them, please contact DCU Insurance.