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Direct Federal will be closed on Monday, November 11, 2019 in observance of Veterans Day.  We will reopen on Tuesday, November 12, 2019 at 8:00 AM. Your account information is available 24/7 through Online Banking, Mobile Banking, and Telephone Banking.

Mortgage

 30 - Year fixed JUMBO

3.766%
 
Interest Rates Certified by Datatrac
OVERVIEW

YOUR BIGGEST PURCHASE DESERVES OUR LOWEST RATES AND BEST SERVICE

 

For some, finding the right home loan may mean finding the very best mortgage rate. For others, it may be about finding a mortgage that fits your specific needs and an experienced lender that you can trust. Luckily, with Direct Federal, you can have it all.

  • One-on-one guidance. 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.

  • Fast application process. Quick and easy application; get a preliminary approval that same day or within 24 business hours. 

  • More than one way to apply. Apply online, 24/7, or simply call or stop in during business hours.

  • Customized to fit your needs. Small or large, short term or long term. Owner-occupied or investment property. You can choose the loan that’s right for you, with terms ranging from 5 to 30 years and $50,000 up to $2,000,000. We offer refinance cash back options, purchase, construction to permanent and 1-4 family residential investment property loans.See our rate table below for a complete list of our mortgage products.

  • No surprises, no hidden fees. Once we provide you with a closing cost, it’s guaranteed. And rest assured there are no “junk fees” for underwriting, processing or document preparation.

Rates

RATES

Rates

  • CONFORMING: Up to $484,350
  • JUMBO:  $484,351 - $2,000,000
PRODUCTS AVAILABLE FOR LOANS UP TO $484,3501 RATE apr2 cOST pER tHOUSAND
5-10 YEAR FIXED 3.125% 3.175% $9.71
15-YEAR FIXED 3.250% 3.285% $7.03
30-YEAR FIXED 3.750% 3.771% $4.63
5/1 ARM 3.375% 4.454% $4.42
7/1 ARM 3.500% 4.330% $4.49
First Time Home Buyer 30-Year 10% Down and NO PMI3 3.750% 3.771% $4.63
First Time Home Buyer 5/1 ARM 10% Down and NO PMI3 3.375% 4.454% $4.42
First Time Home Buyer 7/1 ARM 10% Down and NO PMI3 3.500% 4.330% $4.49
1-4 Family Residential Invest Loans and Construction Loans Available Call for Details 781.433.2929  
PRODUCTS AVAILABLE FOR LOANS UP TO $484,3501 RATE APR2 Cost PER $1,000  
5-10 YEAR FIXED 3.125% 3.175% $9.71 APPLY NOW
15-YEAR FIXED 3.250% 3.285% $7.03 APPLY NOW
30-YEAR FIXED 3.750% 3.771% $4.63 APPLY NOW
5/1 ARM3 3.375% 4.454% $4.42 APPLY NOW
7/1 ARM3 3.500% 4.330% $4.49 APPLY NOW
FTHB 30-YEAR FIXED 10% DOWN NO PMI4 3.750% 3.771% $4.63 APPLY NOW
FTHB 5/1 ARM 10% DOWN NO PMI4 3.375% 4.454% $4.42 APPLY NOW
FTHB 7/1 ARM 10% DOWN NO PMI4 3.500% 4.330% $4.49 APPLY NOW
1-4 Family Residential and Investment Loans and Construction Loans Available     Call for Details 781.433.2929
PRODUCTS AVAILABLE FOR LOANS from $484,351 - $2,000,0001 RATE APR2 Cost Per Thousand
5-10 YEAR FIXED JUMBO 3.125% 3.160% $9.71
15-YEAR FIXED JUMBO 3.250% 3.275% $7.03
30-YEAR FIXED JUMBO 3.750% 3.766% $4.63
5/1 ARM3 JUMBO 3.375% 4.450% $4.42
7/1 ARM3 JUMBO 3.500% 4.326% $4.49
FTHB 30-YEAR FIXED JUMBO 10% DOWN NO PMI4 3.750% 3.766% $4.63
FTHB 5/1 ARM JUMBO 10% DOWN NO PMI4 3.375% 4.450% $4.42
FTHB 7/1 ARM JUMBO 10% DOWN NO PMI4 3.500% 4.326% $4.49
1-4 Family Residential Investment Loans and Construction Loans Available Call for Details 781.433.2929    
products available for loans $484,351 - $2,000,0001 RATE APR2 Cost Per $1,000  
5-10 YEAR FIXED JUMBO 3.125% 3.160% $9.71 APPLY NOW
15-YEAR FIXED JUMBO 3.250% 3.275% $7.03 Apply Now
30-YEAR FIXED JUMBO 3.750% 3.766% $4.63 Apply Now
5/1 ARM3 JUMBO 3.375% 4.450% $4.42 Apply Now
7/1 ARM3 JUMBO 3.500% 4.326% $4.49 Apply Now
FTHB 30-YEAR JUMBO FIXED 10% DOWN NO PMI4 3.750% 3.766% $4.63 APPLY NOW
FTHB 5/1 JUMBO ARM 10% DOWN NO PMI4 3.375% 4.450% $4.42 APPLY NOW
FTHB 7/1 JUMBO ARM 10% DOWN NO PMI4 3.500% 4.326% $4.49 APPLY NOW
1-4 Family Residential Investment Loans Available and Construction Loans Available       Call for Details 781.433.2929

 

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

 

NOT READY TO APPLY? CONTACT US TO LEARN MORE.

Contact Us About Mortgage Products Form

CALCULATORS

Calculators

Use this calculator to generate an estimated amortization schedule for your current mortgage. Quickly see how much interest you could pay and your estimated principal balances. You can even determine the impact of any principal prepayments! Press the "Report" button for a full yearly or monthly amortization schedule.

The first step in buying a house is determining your budget. This calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the 'View Report' button to see a complete amortization schedule of your mortgage payments.

How much interest can you save by increasing your mortgage payment? This financial calculator helps you find out. Click the 'View Report' button to see a complete amortization payment schedule and how much you can save on your mortgage.

LEARN MORE

Learn More

Whether you're buying your first home, building your dream home or refinancing your current home, Direct Federal is here to help. We offer fixed rate and variable options, both short and long term options, as well as First Time Buyer Loans, and Construction Loans. 

Fixed rate and ADJUSTABLE RATE mortgages

Fixed rate mortgages and adjustable rate mortgages (ARMs) are the two primary mortgage types at Direct Federal. We offer a wide variety of terms within these two categories, giving you the flexibility to determine what is best for your situation. The first step when preparing to purchase or refinance a home is to determine which of the two main loan types best suits your needs and how much money you will need to borrow. Direct Federal offers both conforming rates (loans up to $484,530) and jumbo rates (loans $484,351 - $2,000,000).

  • Fixed Rate Mortgages have an interest rate that does not change throughout the life of the loan. 
  • Adjustable Rate Mortgages have a fixed period of time during which the initial interest rate remains constant, after which the interest rate adjusts at a pre-arranged frequency. 

Talk to our Mortgage Team today about the benefits of each mortgage type. You can also read this blog post about the different mortgage types.

first time home buyer program

Our First Time Home Buyer Program is the flagship product of our SmartStart program.

  • Put as little as 10% cash down. 
  • Pay no PMI (mortgage insurance) requirement.
  • Receive discounted closing costs.
  • Pick from ANY of our mortgage products and terms. 
  • Lowest rate guarantee from application date to 7 days prior to closing, for up to 90 days. 

We will be here for you the entire process, from finding your dream home to buying your dream home. Talk to us today about getting pre-approved and starting your home buying journey.

construction mortgages

We offer a variety of Construction to Permanent Mortgage options, including: 

  • Rehab/Renovation
  • Tear Down
  • Ground Up

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. Give our experienced Mortgage team a call to learn more 781.433.2929.

FAQs
FAQs

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.

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?

You can apply for your mortgage online in less than 15 minutes. Someone from our Mortgage Team will reach out to you shortly after you apply.

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.

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.

Direct Federal Credit Union and all of our employees who serve as Mortgage Loan Originators are registered with the Nationwide Mortgage Licensing System NMLS. Please click here to view the list.