Whether you’re a first-time homebuyer or are looking to purchase your fifth, The District Credit Union can help you achieve the dream of owning a home. Our first mortgage loans boast outstanding fixed rates for a specified period of time, so there are never any surprises. And if your mortgage isn’t something that fits in our spectrum, we partner with Pivot Lending Group to ensure you get the service you deserve.
Our second mortgage (home equity loans) and home equity lines of credit provide you with funds up to the equity you have in your home. You can use these funds to make home improvements, consolidate high-interest debt, finance your education—any purpose really. Our second mortgages are a fixed rate for a specified period of time. If you prefer more flexibility, our variable-rate Home Equity Line of Credit (HELOC) can be drawn on at any time (like a credit card) for however much you need, for up to 10 years. With a HELOC, you can use what you need as you need it. The amount of your loan, with both a second mortgage or a home equity line of credit, is based on the equity you have in your home.
Using biweekly payments can accelerate your mortgage payoff and save you thousands in interest. Use this calculator to compare a typical monthly payment schedule to an accelerated biweekly payment.
Payment Protection Credit Insurance
The District Credit Union offers Payment Protection Credit Insurance to help you protect more than just your credit rating. Payment Protection Insurance is designed to help you meet your loan repayments in the event that you are unable to work as a result of an accident, sickness or involuntary unemployment. Contact us about this program if you are applying for a loan.