Articles
Why Refi with a Credit Union?
Here’s why you should check out your credit union when considering your options for a home refinance.
Refinancing a Mortgage: How It Works
Refinancing 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.
What is a Cash Out Refinance?
Looking 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.
Mortgage Rates
- Fixed-Rates
- Adjustable-Rates
REFINANCE FIXED-RATE MORTGAGE RATES
The advertised rates are for conforming loans with an example loan amount of $350,000 and are based on the loan assumptions noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
| Terms | Interest Rate | APR¹ | Points | EMP² per $1,000 |
|---|---|---|---|---|
| 30 Years Fixed | 6.125% | 6.276% | 1.250% | $6.08 |
| 20 Years Fixed | 5.625% | 5.853% | 1.500% | $6.95 |
| 15 Years Fixed | 5.375% | 5.582% | 1.000% | $8.10 |
| 10 Years Fixed | 5.250% | 5.517% | 0.875% | $10.73 |
Rates are effective
REFINANCE JUMBO FIXED-RATE MORTGAGES
The advertised rates are for non-conforming loans with an example loan amount of $850,000 and are based on the loan assumptions noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
| Terms | Interest Rate | APR¹ | Points | EMP² per $1,000 |
|---|---|---|---|---|
| 30 Years Fixed | 6.125% | 6.257% | 1.250% | $6.08 |
| 20 Years Fixed | 5.625% | 5.828% | 1.500% | $6.95 |
| 15 Years Fixed | 5.375% | 5.551% | 1.000% | $8.10 |
| 10 Years Fixed | 5.250% | 5.473% | 0.875% | $10.73 |
Rates are effective
¹APR =Annual Percentage Rate. Rates are based on current pricing and are subject to change at any time without notice.Rates are determined by certain factors, including loan amount, creditworthiness, loan-to-value (LTV), loan term, occupancy status, property type, loan purpose, property location, and lien position, so your rate could be higher. Advertised rates are based on the following loan assumptions – a first lien rate & term (no cash-out) refinance loan for a single-family, owner-occupied residence, with an LTV of 60% or less, credit score of 740 or higher, and based on a loan term displayed above. Additional loan programs are available. Mortgage insurance may be required depending on loan guidelines.All loans are subject to approval, other conditions may apply.
²EMP = Estimated Monthly Payment is for principal and interest per $1,000 borrowed.
REFINANCE ADJUSTABLE-RATE MORTGAGE (ARM) RATES
The advertised rates are for conforming loans with an example loan amount of $350,000 and are based on the loan assumptions noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
| ARM Program¹ | Initial Interest Rate Period | Initial Interest Rate | APR² | Points | 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 |
|---|---|---|---|---|---|---|---|---|---|
| 5yr/6mo | 5-Years | 5.750% | 7.411% | 1.000% | 60 | $5.84 | 8.375% | 300 | $7.39 |
| 7yr/6mo | 7-Years | 5.875% | 7.190% | 1.000% | 84 | $5.92 | 8.375% | 276 | $7.31 |
| 10yr/6mo | 10-Years | 6.125% | 7.001% | 1.000% | 120 | $6.08 | 8.375% | 240 | $7.22 |
Rates are effective
REFINANCE JUMBO ADJUSTABLE-RATE MORTGAGE (ARM) RATES
The advertised rates are for non-conforming loans with an example loan amount of $850,000 based on the loan assumptions noted below. Payment examples do not include taxes or insurance premiums, monthly payment obligations will be higher.
| ARM Program¹ | Initial Interest Rate Period | Initial Interest Rate | APR² | Points | 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 5yr/6mo | 5-Years | 5.750% | 7.378% | 1.000% | 60 | $5.84 | 8.375% | 300 | $7.39 |
| Jumbo 7yr/6mo | 7-Years | 5.875% | 7.157% | 1.000% | 84 | $5.92 | 8.375% | 276 | $7.31 |
| Jumbo 10yr/6mo | 10-Years | 6.125% | 6.969% | 1.000% | 120 | $6.08 | 8.375% | 240 | $7.22 |
Rates are effective
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 6 months based on a current index, depending on the ARM program you choose. For example, if you select the 5yr/6mo ARM program your rate and principal & interest payment will be fixed for the first 5 years (the 5 in 5yr/6mo), after that the interest rate and payment could change every 6 months for the remainder of the mortgage's term (the 6 in 5yr/6mo).
²APR =Annual Percentage Rate. Rates are based on current pricing and are subject to change at any time without notice.Rates are determined by certain factors, including loan amount, creditworthiness, loan-to-value (LTV), loan term, occupancy status, property type, loan purpose, property location, and lien position, so your rate could be higher. Advertised rates are based on the following loan assumptions – a first lien rate & term (no cash-out) refinance loan for a single-family, owner-occupied residence, with an LTV of 60% or less, credit score of 740 or higher, and based on an ARM program displayed above. Additional loan programs are available. Mortgage insurance may be required depending on loan guidelines.All loans are subject to approval, other conditions may apply.
³EMP = Estimated Monthly Payment is for principal and interest per $1,000 borrowed.
