No Hidden Fees

FEATURED

30-YEAR FIXED RATE CONFORMING

Flexible Terms

6.549

%
APR²

Fast Application

Personalized Service

0 (Zero) Points

FEATURES

ALL RATES REFLECT 0 (ZERO) POINTS!

PURCHASE OR REFINANCE

FAST APPLICATION PROCESS

NO JUNK FEES

✔︎ First-Time Homebuyer

✔︎ Cash-out Refinance 

✔︎ Construction To Perm

✔︎ Multi-Family or Investment Property


Quick and easy application; get a preliminary approval within 24 business hours.

Rest assured there are no “junk fees” imposed by other lenders for underwriting, processing or document preparation.

FLEXIBLE

ONE-ON-ONE GUIDANCE

KNOWLEDGE

Terms ranging from 5 to 30 years, fixed or variable options, and loans from $50,000 up to $2,000,000. 

Whether you are looking to refinance or buy a new home, your Mortgage Specialist will be there to provide you with expert advice every step of the way. Click here to meet our Mortgage Team.

Founded in 1953, Direct has over 65 years in lending experience. Click here to access our FREE Homebuying Guide.

PRODUCTS

FIRST TIME HOMEBUYER
PROGRAM

FIXED & ADJUSTABLE RATES

CONSTRUCTION MORTGAGES

Designed specifically for first-time home buyers, it allows borrowers to put only 10% cash down for their first home without the burden of a PMI⁴ (private mortgage insurance) requirement. Additionally, first-time buyers receive a discount on closing costs.


This affordable and unique program gives first-time buyers the flexibility they need depending on their situation—borrowers can pick from ANY of our mortgage products and terms. 

Fixed Rate Mortgages have a rate of interest that is constant for the duration of the loan.


Adjustable Rate Mortgages (ARM) have a fixed period of time during which the initial interest rate stays the same, followed by an adjustment in the interest rate as per a predetermined frequency.

Our Construction to Permanent Mortgage options allow you to pick from any of our traditional Mortgage products and terms. 


We offer an interest-only repayment period while your construction is being done for both purchase or refinance situations. 

  • Rehab/Renovation
  • Tear Down
  • Ground Up

1-4 Family Residential and Investment Properties

 
Interest Rates Certified by Datatrac

MORTGAGE RATES

Viewing
CONFORMING:  Up to $726,200¹

ALL RATES REFLECT 0 (ZERO) POINTS!

RATE

APR²

PRODUCT

COST PER $1000

5.875%

5.982%

$11.04

5.875%

5.950%

$8.37

6.500%

6.549%

$6.32

7.500

7.906%

$6.99

8.000

8.103%

$7.34

First Time Home Buyer Program

10% DOWN - NO PMI⁴

Construction Loans

1-4 Family Residential and Investment Properties

JUMBO RATES

Viewing
JUMBO: $726,201 - $2,000,000¹

ALL RATES REFLECT 0 (ZERO) POINTS!

APR²

COST PER $1000

PRODUCT

RATE

8.000

8.069%

$12.13

8.000

8.096%

$9.56

8.250

8.296%

$7.51

7.903%

$6.99

7.500

8.000

8.101%

$7.34

First Time Home Buyer Program

10% DOWN - NO PMI⁴

Construction Loans

1-4 Family Residential and Investment Properties

MORTGAGE CALCULATOR

CONTACT

Questions?

MESSAGE

A Mortgage Loan Originator will contact you back

MEMBER SERVICES

781.455.6500

HOURS

Monday—Friday

8:00am-5:00pm


Saturday

8:00am-1:00pm

FAQ

WHAT HAPPENS AFTER MY APPLICATION IS APPROVED?

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.



HOW DO I APPLY FOR A DIRECT FEDERAL MORTGAGE?

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 you are purchasing OR REFINANCING .

  • 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


And that’s it! If you could like to get started right away, you may apply now.



WHAT IF I HAVE MORE QUESTIONS ALONG THE WAY?

If you don’t find the information you’re looking for on our website, feel free to call us at 781.433.2929, or stop in and see us.

Payments shown to not include taxes or insurance. Your payment may be greater.


¹ Single Family up to $726,200, 2 Unit up to $929,850, 3 Unit up to $1,123,900, 4 Unit up to $1,396,800. Call for our increased loan limits in designated High Cost Areas.


² Annual Percentage Rate (APR). The interest rate and APR are subject to change. Your actual rate will depend on various factors including, but not limited to, loan type, credit profile, property type, appraised value, occupancy, subordinate financing and loan size. Mortgage loans cannot exceed $2,000,000.00. Assumes 20% down and 0 points. Subject to credit approval.


³ Adjustable rate programs are based on a 30 year term. Our adjustable rate mortgages offer an initial rate that is fixed for either a 5 year or 7 year period. After that period, and every year thereafter, the interest rate can adjust based on current market condition. Each adjustment has a 2% change cap and a 5% lifetime change cap.


⁴ First Time Home Buyer (FTHB) Program. Additional product options available. Call for details.

Equal Housing Lender. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.

© 2023 DIRECT FEDERAL CREDIT UNION