Whether you are buying your first home, refinancing, or in the market for a second home, look to DFDFCU for smart financing options. We offer a variety of home loans from fixed-rate loans to variable rates including 10 & 15-year Rapid Payoff Mortgages, 15, 20, and 30-year loans, and a complete line of Second Mortgages.
First Mortgages Loans
- $995 Fixed Closing Cost Option
- 15 & 30-year terms with fixed monthly payments
- FHA, VA, and ARM loan options available*
- No pre-payment penalties
- Refinance options up to 97% loan-to-value
Rapid Payoff Mortgages
Pay off your current mortgage in 5 to 10 years and save money on interest payments while possibly even lowering your current monthly payment. These loans are ideal for members with 15 years or less to pay on a traditional 30 year loan and with a credit score of 680 or above*.
- $495.00 closing cost*
- 5, 10, 15-year terms with fixed monthly payments
- Local servicing for the life of your loan
- Cash out options available
- No Private Mortgage Insurance (PMI) or pre-payment penalties
*$495 closing charge is subject to change at any time and does not include charges for a property appraisal if required. Property appraisal charges will be paid by the member. $995 Fixed Closing Cost option product is subject to change at any time. Federal housing Administration (FHA) loans require a minimum of 3.5% down payment. FHA loans are subject to an up-front mortgage insurance premium of 1.75% of the loan amount, in addition to a monthly mortgage insurance premium, depending on the loan term and loan-to-value (LTV). VA mortgages are guaranteed by the Department of Veterans Affairs for eligible veterans. No Closing Cost Mortgage product subject to credit approval and 80% loan to value (LTV) position on property, for primary occupancy only on single family detached residence, townhouse, and condo properties only.
Second Mortgages/Home Equity Line of Credit/Interest Only HELOC
If you are a homeowner, you may borrow money against the equity in your home with a fixed rate second mortgage or a Home Equity Line of Credit (HELOC) to pay for home improvements, college expenses, an upcoming wedding, or many other large ticket expenses that may be ongoing or one-time.
A fixed rate second mortgage allows you to borrow money against the equity in your home.
- 80% loan-to-value (LTV) maximum
- Fixed Rate
- 5, 10, and 15-year terms
Home Equity Line of Credit (HELOC)
A HELOC is a revolving line of credit account that permits borrowing from time to time, at the homeowner’s discretion, up to a set credit limit. Meaning, as you pay down the balance of your loan, your funds become available to use again. Common advantages of home equity loans include lower interest rates than most other types of loans and the interest you pay may be tax deductible. Contact your tax advisor for more information.
Interest Only HELOC
Maximize Your Equity… with an Interest Only Home Equity Loan
The lowest possible monthly payment, with even greater flexibility. This loan is ideal if you’re looking for more control over your cash flow and budget.
- Enjoy lower monthly payments with the option of paying just the interest and as much principal as you want over a seven year period
- Minimum initial advance is $2,500, with subsequent advances at $500
- 7 year draw period (interest only payments) with a 10 year repayment plan
The DFDFCU Interest-only Home Equity Line of Credit offers benefits that save you time and money.
- Quick approval process
- Pay nothing unless you use your line of credit
- Borrow up to 80% of your home’s value upon qualification*
- Potential tax savings — the interest may be tax deductible (consult your tax advisor)
- Convenient automatic payment options for interest only payments
- Access your funds conveniently via Internet Banking
* Rates and closing costs are subject to credit qualifications. The Annual Percentage Rate (APR) is a variable rate. Your qualifying rate may adjust monthly and is based on the highest Prime Rate as published in The Wall Street Journal as of the date of any rate adjustment plus or minus a margin. The APR range is from 3.50% to 18%. Seven year drawn period. Repayment term up to 10 years. Property insurance coverage is required. Flood insurance may be required. If the state and/or county in which the collateral is located charges additional fees and taxes, the borrower will be responsible for payment.
Considering building a new home? Our partnership with Centennial Lending allows us to offer flexible rates and terms and experienced lenders who will do their best to make this dream a reality. Even if you’re not ready to build right now, we can help you secure that perfect lot with a land loan. You can count on Centennial Lending to offer the same prompt, personal, local service you’ve come to expect from your Credit Union.
- Residential Construction
- Commercial Construction
- Development Loans
- Vacant Land
- Flexible Interest-Only Construction Financing
Construction Loans - Apply Online.
*Standard credit qualifications apply. All loans are subject to final credit approval. Please consult your tax advisor, as interest paid on these loans may be tax-deductible. All second mortgage products are financed on homes in Colorado only.