Frequently Asked Questions

There are no closing costs.

Yes, Direct Federal will allow properties that are placed in acceptable trusts.  The trust must be reviewed by our Attorney and must meet all of our guidelines and requirements for the transaction to move forward.  The applicant will need to provide a full copy of the Trust agreement for review.  The applicant must be the trustee or one of the co-trustees.  All trustees must be 18 years of age or older.  Additionally, the trustee must be authorized to borrow money and encumber real estate.

Required documentation will include but is not limited to: an insurance binder or insurance declaration page, income verification, mortgage statement, and valid license or identification.

It takes about five minutes to apply and you will have an answer within one business day.

Yes. In the application, please select "Refinance Home Loan" as the "Loan Purpose".

There are no balance transfer fees.

There is no cash advance fee.

There is no over limit fees.