Buying? Remodeling? DCU Can Help

Are you dreaming of a home sweet home? Perhaps you’re ready to trade your small apartment for a larger residence you can decorate as you please. Or maybe you’re already a homeowner, but want to make your home sweeter with extra room for a growing family.

DCU has home loans to fit a variety of needs, and we can help you determine the one that is best for your situation.

If You’re Buying
This year’s lower loan rates and affordable home prices are prompting many to consider homeownership. If you’re house-hunting for the first time and buy a home by Nov. 30, 2009, you may be eligible for an $8,000 tax credit for first-time homebuyers.* DCU can help you explore the possibilities and see if it’s the right time for you to buy a home. Popular mortgage options at DCU include:

Fixed/adjustable mortgages. Rate is fixed for the first three, five, seven, or 10 years, then switches to a one-year adjustable-rate mortgage for the rest of the term. Often a great value for most members.
Fixed-rate mortgages. One interest rate and payment for the life of the loan.
Adjustable-rate mortgages. Has the lowest starting rate. The rate can change up or down once each year based on the public index.
FHA loans. A federal assistance mortgage loan insured by the Federal Housing Administration.

If You’re Remodeling
Staying put in your current home and giving it some upgrades is also a smart move if you plan to stay in your home for many years. DCU has three ways for you to use your home’s equity:

Fixed-rate home equity loan. Receive a single advance for a one-time purpose. Borrow up to 80% of your home’s value minus your first mortgage balance.
Equity LinePLUS. This is a revolving line of credit that allows you to use your line for up to two fixed-rate advances. Borrow up to 80% of your home’s value minus your first mortgage balance.
EquityLine 1-2-3. A home equity line with a rate that is always 1.23% below the Prime Rate. This line may be ideal if you have significant equity and an outstanding credit history.

In addition to home remodeling or repairs, home equity loans and lines can be used for other large expenses, including vehicles, bill consolidation, and college tuition. Because your home is used as security, rates are lower than unsecured loans and interest is usually tax-deductible.*

Stick with DCU
It’s DCU’s vision that all members achieve their financial goals, so we want to help you make the right choices regarding your home sweet home. To learn more, stop by any branch, visit dcu.org, or call 508.263.6700 or 800.328.8797.

*	Visit irs.gov and your state’s department of revenue for more information on deductibility.

« Previous

Members' Monthly Home

DCU Information Center
508.263.6700 or 800.328.8797

DCU Financial
800.328.8797, ext. 6077

DCU Insurance
800.328.8797, ext. 6978

DCU Realty
888.832.8929

Digital Federal Credit Union
PO Box 9130
Marlborough, MA 01752-9130
508.263.6700 • 800.328.8797 • dcu.org • dcu@dcu.org
TTY 800.395.5146 (For hearing impaired only)

Have you had a good experience with DCU that you want to share with others? Send us an email at dcu@dcu.org or mail it to:

DCU
Attn: Marketing Dept.
PO Box 9130
Marlborough, MA 01752-9130

For direct deposit: routing and transit
# ABA 211391825
Editor: James Paquette
To apply for a Home Equity Loan, Consumer Loan, or Mortgage anytime, call 508.263.6700 or 800.328.8797 (select 3) or visit dcu.org. For a complete listing of DCU’s rates, visit our web site at dcu.org or stop by your nearest DCU branch.