Review of DCU Mortgage Rates: Today's Best Analysis

Digital Federal Credit Union takes an ethical and member-centered approach to financing. It is a Massachusetts-based credit union, which was founded in 1979 in the city of Marblehead. DCU offers a wide range of commercial and consumer loans. DCU was founded in 1979 to provide benefits to employees of the Digital Equipment Corporation, and it continues to focus on fulfilling the requirements of digital users.

DCU Mortgage Facts

  • Those who work for partner organizations or communities, as well as their immediate family members, are eligible to join.
  • Focused mostly on online services, which provide convenience and accessibility.
  • Although it serves the entire country, all of its branches are located in New England.
  • Defines itself as a company that prioritizes ethical practices and figuring out how to support its members daily.
  • A variety of materials are available on the website to assist potential borrowers in understanding the lending process.
  • Provides real estate services to members who have a mortgage and are looking for a home.
  • Customer service is available for the duration of the loan.


DCU is unique in that it provides a wide range of financial services. Its beginnings as a provider of employee benefits for a rapidly expanding company have fueled expansion into critical areas like real estate and insurance, allowing DCU to adopt a rather unique approach to serving consumers holistically. This is reflected in its mortgage lending offerings, which include VA mortgages, fixed-rate mortgages, and adjustable-rate mortgages, all of which are backed by customer service provided directly by DCU for the life of the loan. Only members have access to these types of robust customer support solutions, but if you are a member, DCU can deliver a convenient, accessible lending experience that is a perfect fit for first-time homebuyers.

DCU loan specifics

Because DCU is a credit union, you must examine your eligibility as the first criterion for determining whether or not their mortgages are a good fit for you. Membership is primarily granted to those who work for a company or organization that has chosen to partner with DCU. This membership, like that of other credit unions, is then extended to the employee's immediate family. DCU also has affiliations with a few towns and cities in Massachusetts and Georgia, which allows residents of those areas to join. Their mortgages are quite normal in the mortgage business, however, they come with slightly lower rates than many credit unions. Here's a rundown of their main mortgage products:

Fixed-rate loans

DCU's fixed-rate loan is meant for people who want to stay in the house they're buying for a long time. Fixed-rate loans have a little higher initial interest rate than adjustable-rate mortgages, but they provide long-term payment certainty. The DCU fixed-rate mortgage has a maximum term of 30 years and comes in two flavors:
  • Conforming loans are for loans up to $453,100 that cover up to 95% of the home's worth.
  • Jumbo loans are those that are over $453,100 and cover up to 90% of the home's worth.
As of November 15, 2018, DCU mortgage rates for fixed-term loans were as low as 4.33 percent for 10-year durations. It's worth mentioning that APRs vary depending on the term of the loan. This loan structure is backed by a unique 3% down program that allows borrowers who want to buy a one-unit primary dwelling with a 30-year loan to get lender-paid mortgage insurance. This bonus, combined with the option of no points or no points/no closing fee, makes the DCU fixed-rate mortgage an ideal choice for first-time homebuyers.

Adjustable-rate loans

DCU's adjustable-rate mortgage is for borrowers who desire the best potential rate at the outset of their loan but aren't concerned about future payment increases. This may be the case if you plan to relocate within the next five years or if you expect your income to rise significantly throughout the loan term. This loan's DCU mortgage rates start at 4.98 percent for the first five years, with durations up to 30 years available. It is also possible to prolong the fixed rate duration of the loan to seven or ten years. The adjustable-rate mortgage, like the fixed-rate loan, is available in conforming or jumbo parameters, with identical criteria. It's worth mentioning that DCU's adjustable and fixed-rate mortgages come with a 60-day rate lock, assuring that you won't have to renegotiate conditions if you get pre-approved but need more time to close on your new home.

VA loans

While DCU's principal mortgage products include adjustable and fixed-rate loans, it also offers VA loans. In terms of availability, these are organized similarly to VA loans at other institutions. The loan does not require a down payment, but it will have a higher-than-average interest rate as a result. While DCU only offers a few mortgage alternatives, its emphasis on service throughout the life of the loan and optional solutions within each mortgage demonstrate the institution's commitment to member-focused financing.

DCU mortgage customer experience

DCU has multiple branches around New England, but its services are defined by its website and other digital media. DCU has about half of its members who never go to a branch. The DCU website reflects the organization's identity as a digital financial services provider. It's simple to look for mortgage rates online, and DCU has several tools to help you do so, including:
  • Mortgage calculators make calculating payments and determining what you can afford a lot easier.
  • A program that allows you to get a free tailored quote online without revealing your Social Security number.
  • Videos that provide background on the lending process as well as answers to frequently asked questions regarding mortgages and the home-buying process.
  • A resource area where you may choose your mortgage objective and be directed to pertinent documents to learn more about how DCU can assist you in achieving that goal.
These tools are underpinned by a robust digital service model that allows you to complete the entire lending procedure online. While DCU has several branches, they are entirely in New England, although the credit union covers every state in the US. Many people will complete their mortgage applications online or over the phone. Customer reviews on the DCU website are generally positive, but they should be taken with a grain of salt because a credit union's closed nature limits the scope and public scrutiny it receives. DCU isn't even listed in J.D. Power's Primary Mortgage Originator Rankings, and the Consumer Financial Protection Bureau doesn't keep track of consumer complaints.

DCU lender reputation

DCU is a fairly new credit union with a short history. Its identity as a lender is inextricably linked to the country's progress in computing and digital services. It was created in 1979, but it wasn't until 1999 that it became a federal credit union. It didn't open its first standalone branch until 1996, and it now has only 22. It does, however, serve over 500,000 members and focuses on operating as a financial cooperative for its members. The NCUA insures the institution and certifies it as an Equal Housing Lender. It is also a member of the National Mortgage Licensing System (NMLS). Its ID number is 466914. In the end, knowing DCU's reputation boils down to deciding your degree of comfort with the institution. The Better Business Bureau gave them a B-grade, although it only applies to branches and is based on a failure to react to four complaints. In the last three years, the BBB has received only 66 complaints against DCU, resulting in such a small sample size that the rating isn't really useful. Similarly, Trustpilot has only one review for DCU on file. It's a five-star review. You can only get DCU mortgages if you're already a member, so your experience may be more important than web reviews in this case. If you're still on the fence about joining, talk to coworkers, family members, or neighbors who are members to get a feel of their experience, depending on how you qualify for membership. Most industry-wide studies do not cover DCU because it is too small and too much of a closed community.

DCU mortgage qualifications

Down Payment Requirement Lifetime Service with DCU Jumbo Loan Available
Fixed-Rate Loans 5% minimum for conforming loan.               Yes Yes, with a 10% minimum down payment.
Adjustable-Rate Loans 5% minimum for conforming loan.               Yes Yes, with a 10% minimum down payment.
VA Loans None               Yes Only under special circumstances.
DCU's loan qualification standards are quite normal. While specifics will differ based on your situation, in general, you can utilize gift money for down payments and will need private mortgage insurance if your down payment is less than 20% of the property's worth.

DCU phone number and additional details:

  • Homepage URL:
  • Company phone: 800-328-8797
  • Headquarters address: 220 Donald Lynch Boulevard, Marlborough, MA 01752-9130
  • States serviced: Nationwide

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