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What Can DCU Save You?

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 $424,100
  • 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

* Borrowers may not hold ownership in additional properties at the time of closing.

Please refer to Details and Rates tabs for additional information and important disclosures.

"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 $424,100
  • 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 paid by lender. Cannot own additional properties at the time of closing. First-time home buyer education may be required. 30-year fixed rates only. Maximum loan amount $424,100. Other terms and restrictions apply.
  • No point and no point/no closing cost options – Available for loan amounts between $100,000 and $424,100. 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.

Fixed-Rate Mortgage Rates for loans up to $424,100*

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 4.375% 4.46% $4.99
30-Year Fixed
Owner occupied, up to 95% of home value
0 points 4.000% 4.08% $4.77
20-Year Fixed
Owner occupied, up to 95% of home value
0 points 3.750% 3.86% $5.93
15-Year Fixed
Owner occupied, up to 95% of home value
0 points 3.375% 3.51% $7.09
10-Year Fixed
Owner occupied, up to 95% of home value
0 points 3.125% 3.31% $9.71

*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 $424,100 (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.

Fixed-Rate Mortgage Rates for loans over $424,100*

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
0 points 4.000% 4.05% $4.77
Jumbo 15-Year Fixed
Owner occupied, up to 90% of home value
0 points 3.375% 3.45% $7.09
Jumbo 10-Year Fixed
Owner occupied, up to 90% of home value
0 points 3.125% 3.23% $9.71

*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 $424,100 (also known as "jumbo mortgages"). Further restrictions apply for loan amounts over $424,100 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.


Fixed-Rate Mortgages is rated 4.1 out of 5 by 260.
Rated 5 out of 5 by from Wonderful experience Applying for this mortgage through the DCU was a very non-stressful experience. All of the representatives that we dealt with were very knowledgeable and helpful. All of my questions were answered and the whole process went smoothly.
Date published: 2017-09-20
Rated 5 out of 5 by from While lengthy, the application process proceeded in an organized manner with the end product matching the initial agreement. The mortgage application process has changed dramatically, and we were not sure what to expect. The initial parameters were quickly achieved during a phone call. The process took 2+ months. The pros and cons were: Pros: -All electronic transmitting, initially uncomfortable with all the private information, but ultimately flexible and sped the process up. -Capable people responding to any issues and moving it forward. -No surprise fees or requirements (except one below). The initial agreement was reflected exactly in the final form. -Competitive rates and fees. Cons: -It would be useful to describe the process and players. The process is distributed over several groups and not clear who to contact. -Notified shortly before closing that real estate taxes would be withheld from funds but I had already sent by check, causing a last minute problem.
Date published: 2017-09-19
Rated 5 out of 5 by from Timely service at a great rate We were first time homebuyers needing help from start to finish with the process. We had previously had a great experience with our new car and "second chance" auto loans with DCU, so knew that we would get friendly and fair service. A lot of online information from the credit union helped us understand how the experience would unfold and how much it would cost. Knowing that DCU retains service throughout the lifetime of the loan was important. Every time we have had a question or needed a clarification, someone onsite and familiar with our situation helped. There were many people on the team for checks and balances. Everyone did their part and the process was convenient, even for us as borrowers who now live out-of-state. We closed on time, and the title agent noted that we got a great rate. The whole experience was smooth and within our budget. Affordable and convenient, what more could we ask for?
Date published: 2017-09-16
Rated 5 out of 5 by from Exceptional and affordable product DCU can be relied upon for their Fixed rate mortgages and 15 year is the best plan- both for affordable and fast repayment of loan conveniently thru the checking account and a hassle free life for ever.
Date published: 2017-09-16
Rated 5 out of 5 by from WILDLY WONDERFUL Kathleen Phillips and her team are an amazing resource and support. I'm a former "Dec-ie" from the early seventies and I so appreciate the care!
Date published: 2017-08-30
Rated 5 out of 5 by from Refi cash out for college Working with Lynne in the Mortgage group was so easy and convenient! She answered all of my questions and was quick to respond even multiple times during the course of one day. Without her help I would not have gotten the loan closed in time to make my daughters tuition payments. Once the loan went to Closing, Lauren from the closing dept. worked with me to ensure that went seamlessly as well! I cant say enough about how they both worked to ensure I got the loan completed in a compressed amount of time! So Happy with DCU!!!!
Date published: 2017-08-05
Rated 5 out of 5 by from it`s a great investment for me and my family Thanks for making me own a house. ever since I started saving with you, you financed both my first and second cars and finally a home.
Date published: 2017-07-31
Rated 5 out of 5 by from Mortagage loan is very quick People whom I worked was awesome and quickly respond
Date published: 2017-07-10
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Can your mortgages be used to purchase homes in other US states if the primary residence of the borrower is there?

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
Asked by: BoonMonkey
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.
Answered by: Naga
Date published: 2017-09-04

How do I find the original or remaining term of my mortgage?

Asked by: DCU Member
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
Answered by: PUP
Date published: 2013-10-23

Does DCU offer investment property loans?

Asked by: DCU Member
Yes, in fact DCU was one of the few banks I found that provides this service.
Answered by: georgem
Date published: 2013-10-23

refi mortgage

how do i apply for a refi on my home online?
Asked by: bob
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.
Answered by: condo-owner515
Date published: 2015-01-10

Can I refinance my first mortgage with DCU and get cash out?

I reside in Texas
Asked by: Susan
If you have equity in your home you may apply for a cash out refinance through DCU. Most of our programs offer financing for up to 95% of the value of your home. You may apply online at https://www.dcu.org/loans/mortgage-overview.html or by phone at (800) 328-8797 option 3.
Answered by: DCU Staff
Date published: 2017-10-08
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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.