Delta Community Credit Union Mortgage Rates

Delta Community Credit Union has provided members with the highest quality financial services since 1940. As the leading credit union in the region, Delta Community offers competitive and affordable mortgage rates. Whether you are a first-time homebuyer or a seasoned investor, Delta Community Mortgage has the right loan option to meet your needs. With a variety of loan programs and low mortgage rates, you can save money each month and build equity in your home faster. In this blog post, we will discuss the current mortgage rates offered by Delta Community Credit Union. We will explore the different loan programs that are available, including fixed and adjustable rate mortgages, as well as the benefits of choosing a credit union for your mortgage loan. We will also discuss the qualifications and requirements for taking out a loan, and what to expect during the loan process. Finally, we’ll look at the different ways you can save money with a Delta Community Mortgage loan. Read on to learn more about the current mortgage rates offered by Delta Community

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Delta Community Credit Union Mortgage Rates

Delta Community Credit Union isnt available on Finder right now.

Great perks for first-time homebuyers and $500 off closing costs through December 2021, but interest rates are slightly higher than average.

Although Delta Community Credit Union originates loans in a number of states across the US, membership is required and not everyone is qualified. Those who are brand new to real estate will probably benefit the most from its current promotion and special program for first-time homebuyers. However, its wide range of mortgage products serves a variety of homebuyers and property owners.

Minimum down payment (Conventional)

Only accessible in the following states: AL, AZ, CA, CO, DC, FL, GA, IN, KY, MA, MD, MN, NC, NY, OH, SC, TN, TX, UT, and VA.

Loan products offered Conventional, Jumbo, Home Equity/HELOC, Refinance
Minimum credit score 640
Minimum down payment (Conventional) 3%
State availability Only available in: AL, AZ, CA, CO, DC, FL, GA, IN, KY, MA, MD, MN, NC, NY, OH, SC, TN, TX, UT, VA
NMLS # 401141

Matt Miczulski is an investments writer at Finder. He used the knowledge he gained as a writer at FinanceBuzz, where he specialized in finance news, banking, debt, and travel, after clearing $30,000 in debt in a little more than a year. On MSN, Best Company, Money Done Right, and Recruiter, he has been highlighted.

Although there are many loan options available to experienced homebuyers, the loan for first-time homebuyers comes out on top in this case. You can keep more money in your pocket thanks to Delta Community Credit Union’s First-Time Home Buyer Program, which does away with the origination fee and PMI. A fixed-rate or adjustable-rate mortgage also allows homebuyers to avoid paying $500 in closing costs through December 2021.

While these benefits are wonderful, you might be able to find a lender with more affordable rates. Additionally, in order to even be considered for a mortgage, you must be eligible to join Delta Community Credit Union. Compare additional lenders to find the one that’s best for you if you are unable to or wish to continue looking.

Delta Community Credit Union is not currently available on Finder

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From the initial quote to the last payment, manage your mortgage more easily from a computer or phone.

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  • Delta Community Credit Union requirements

    Although joining Delta Community Credit Union is not necessary to apply for a mortgage, you must do so before your loan application can be processed. To find out if you qualify for membership, contact Delta Community Credit Union directly.

    Then, in order to apply for a mortgage, qualified members must satisfy the following conditions:

  • Be at least 18 years old
  • Be a US citizen, permanent resident or nonpermanent resident
  • Have a minimum average credit score of 640 across all major credit bureaus
  • Depending on your circumstances, different documents may be needed, but generally speaking, you must provide:

  • Recent pay stubs.
  • W-2 forms and/or 1099 forms.
  • A credit application.
  • Personal and/or business tax returns.
  • Various fees are assessed by Delta Community Credit Union based on the type of mortgage you obtain. For instance, an origination fee of 1% may be required for a conventional fixed-rate mortgage, but there is no origination fee for a loan for first-time homebuyers. Additionally, the $25 late payment and $25 nonsufficient funds (NSF) fees are levied by Delta Community Credit Union.

    Additionally, any third-party costs connected with purchasing a home, such as appraisal fees, closing costs, and title fees, are your responsibility.

    How to apply for a mortgage with Delta Community Credit Union

    the steps below to submit an application for a mortgage with Delta Community Credit Union

  • Visit the Delta Community Credit Union webpage and choose Personal, then Home Loans, then Apply Now.
  • Choose a home loan specialist and select Get Pre-qualified or Purchase a Home.
  • Create a new account and log in using your new username and password, then locate the draft of your application and choose Start.
  • Read through the welcome page. Then, provide information about the purpose of the loan, property details and coborrower information. Select Next when finished.
  • Enter additional personal information, including name, date of birth, Social Security number, current address, employment information and gross monthly income.
  • Provide information about your liabilities, expenses and creditworthiness, then select Next.
  • Select your preferred rate and terms and review the details about your chosen loan program. Select Next when ready.
  • Fill out the disclosure forms, declarations and demographic information.
  • Review your application and hit Submit.
  • What types of mortgages can I get through Delta Community Credit Union?

  • Jumbo
  • This company accepts mortgage refinance applications.

    Other mortgage products Delta Community Credit Union offers

  • First-Time Home Buyer Program. A special program for first-time homebuyers that includes a down payment as low as 3%, no origination fees and no monthly private mortgage insurance (PMI).
  • 100% Financing Home Loan. A no-down-payment loan available for borrowers who have a credit score of 720 or higher. However, Delta Community Credit Union does charge an origination fee, generally 1% of the loan amount.
  • Land Lot Loan. A loan specifically for borrowers who wish to finance the purchase of a lot up to 10 contiguous acres to build a custom home.
  • Purchase Money Second Loan. Designed for homebuyers who want to buy a home but don’t have or don’t want to provide a down payment. The Purchase Money Second Loan supplements the first mortgage and acts as the down payment.
  • How Delta Community Credit Union’s mortgage products compare to other lenders

    Similar to the majority of conventional lenders, Delta Community Credit Union provides a wide range of mortgage products to meet the needs of both first-time homebuyers and seasoned homeowners. But you’ll need to look elsewhere if you’re looking for a mortgage backed by the government. FHA, VA, and USDA loans are among the types of government loans that Delta Community Credit Union does not provide.

    Additionally, Delta Community Credit Union is providing $500 off closing costs on fixed-rate and adjustable-rate mortgages through December 2021.

    For what it’s worth, Delta Community has made an effort to respond to almost all critical comments on the BBB website, noting that “As a matter of practice, [they] always have a senior member of [their] Leadership Team with responsibility for the relevant operational area contact members directly when [they] are [notified of] a complaint by the Better Business Bureau. ”.

    Compare leading brands based on available states, home loan types, and credit scores To give the lender specific information about your home and finances and receive personalized rates, select See rates.

    Delta Community Credit Union pros and cons

    Homebuyers can take advantage of a number of benefits from Delta Community Credit Union. But there are some drawbacks to consider, too.

  • First-time Home Buyer Program. Unlike its other mortgage types, this program features no origination fee and no monthly PMI.
  • $500 off closing costs. Homebuyers who secure a fixed-rate or adjustable-rate mortgage will receive $500 off closing costs through December 2021.
  • 100% financing mortgage. If you have a credit score of 720 or higher, you can skip the down payment entirely with Delta Community Credit Union’s 100% Financing Home Loan.
  • Mediocre interest rates. Though exact rates will vary depending on various factors, published rates Delta Community Credit Union provide show a rate of 3.125% for a 30-year fixed-rate mortgage. This is a bit higher than the current US weekly average of 2.96%.
  • No government loans. Delta Community Credit Union doesn’t currently offer popular government loan options, such as FHA loans, VA loans and USDA loans.
  • What is Delta Community Credit Union?

    Atlanta, Georgia serves as the home office for the federally insured credit union Delta Community Credit Union. It provides financial services for individuals, small businesses, and businesses, such as checking and savings accounts, retirement and investment products, auto loans, mortgage loans, and more.

    With 30 branch locations and more than $8 billion in assets, Delta Community Credit Union, which was founded in 1940, has grown to be the largest credit union in Georgia and one of the top 30 in the country.

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    Is 4.00% a good mortgage rate?

    According to Tim Milauskas, a loan officer with First Home Mortgage in Millersville, Maryland, an interest rate of about 4% is currently regarded as favorable. When you compare mortgage rates, your credit will be the main factor determining the rates you receive, according to Milauskas.

    Is 2.8 a good interest rate for mortgage?

    Anything at or below 3% is an excellent mortgage rate. Additionally, the more money you can save over the course of the loan, the lower your mortgage rate must be.

    How can I get a 3% mortgage rate?

    How to get a mortgage rate below 3%
    1. Change your loan’s term from 30 years to 15 years.
    2. Shop around for interest rates. …
    3. Pay for mortgage points. …
    4. Take steps to improve credit score. …
    5. Provide a sizable down payment.

    Is 2.25 A good mortgage interest rate?

    Whether or not you qualify for 2. 25%, rates are ridiculously low. The truth is that top-tier borrowers with excellent credit scores and 20% down payments almost always receive the lowest advertised rates. So a 2. 25% mortgage rate will be out of reach for many.