Mortgages
30 Year Fixed Rate
- No hidden fees
- Fast application
- Personalized service
- Reflects 0 (zero) points
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Get started with pre-approvalMove In On The Perfect Mortgage
- Cash-Out Refinance: Access funds to meet your financial needs and goals.
- Customize Your Loan: Choose from 5 to 30-year terms and loan amounts from $50,000 to $2,000,000.
- Quick, Easy Application: Get a preliminary approval within 24 business hours.
- Complete Transparency: No hidden costs, no "junk fees."
- Decades of Experience: Finance the biggest purchase of your life with a proven, reliable lender.
Mortgage Offerings
Fixed Rate
First Time Home Buyer
Jumbo Mortgages
Mortgage Rates
LOAN Type
First Time Homebuyer Program
Investment Properties
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Get started with pre-approvalGlossary
The Annual Percentage Rate (APR) is the yearly interest rate that borrowers are charged on a sum of money. It is expressed as a percentage and represents the actual cost of funds over the term of a loan. This rate includes any fees or additional costs associated with the transaction but does not consider compounding. The APR is a helpful measure for consumers to compare among lenders as it provides a clear and standardized number.
The value placed on a property by local officials for taxation purposes only. (May or may not equal appraised value)
The difference between the market value of a property and the owner's outstanding mortgage balances.
Primary Residences: Direct will lend up to 80% of Combined Loan-to-Value.
Second Homes and Investment Properties: Direct will lend up to 70% of Combined Loan-to-Value.
Interest rates on fixed rate loans stay the same for the loan's entire repayment term. This means the cost of borrowing money stays constant throughout the life of the loan and won't change with fluctuations in the market.
Your loan-to-value ratio (LTV) expresses how much you owe on your current first mortgage. Basic loan-to-value ratio formula:
Current first mortgage loan balance ÷ Current appraised value = LTV
Example: You currently have a loan balance of $100,000. Your home currently appraises for $250,000. So your loan-to-value equation would look like this:
$100,000 ÷ $250,000 = .40
Convert .40 to a percentage for a loan-to-value ratio of 40%.
Direct Federal is a not-for-profit, meaning that earnings are invested right back into the credit union. And that means Direct Federal can offer lower loan rates and higher deposit rates that you simply won't see anywhere else.
A mortgage point, also known as a discount point, is a one-time fee paid upfront to decrease the interest rate on your home loan or refinancing. One point is priced at 1% of your entire home loan amount. To illustrate, with a $100,000 mortgage, acquiring one point would amount to $1,000.
Frequently Asked Questions
We currently do not offer FHA loans.
We currently do not offer VA loans.
We currently do not offer land loans but please check back in with us in the future!
We offer a variety of options to pay a Direct Federal Loan or Line of Credit.
Completing your mortgage application online is just like completing one on paper — with the added benefit of being able to complete it anytime, anywhere. Plus, at any time, you may stop and save your application; then return to it later. Expect your application to take about 15 minutes to complete. A series of prompts and helpful tips will guide you through each screen to help you through each stage of the application process, which includes the following steps:
Start App – You’ll be asked to select a username and password to ensure security and privacy. Create and enter your username and password here and make a note of them for your records.
Loan Details – Enter the address, price and other information related to the property.
Personal Info – Provide the name, date of birth and social security number for EACH borrower.
Employment Income – Tell us about your current employment situation, including gross income and any additional income you may receive.
Expenses – What is your current monthly expense for housing?
Asset Info – Provide a list of your financial assets, including bank accounts and investments, in order to verify that you have access to sufficient funds to complete the transaction.
Submit App – After a few final questions, simply submit the application to Direct Federal and a mortgage specialist will follow up with you
Submit an application online or call to speak with Mortgage Loan Officer.
Different Mortgage programs will have varying qualifications. Please contact a mortgage specialist to discuss your options.
Send message to Mortgage Specialist >
Once you’ve submitted your application, you will have a personal Mortgage Specialist follow up with you to provide additional help and guidance. Your Mortgage Specialist will be your single point of contact from here. He or she will send you an approval letter, order an appraisal from a licensed appraiser familiar with home values in your area, and prepare your loan for closing. The closing will take place at the office of our attorney in your area, who will act as our agent. Before closing, your Mortgage Specialist will contact you to walk through the final information and answer any questions you might have.
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