DUCA Credit Union Mortgage Rates

DUCA Credit Union Fixed-Rate Mortgages

DUCA Credit Union Fixed Rate Mortgages reduce the risk of future interest rate fluctuations by “locking in” a specific interest rate for the term. This can create peace of mind for homeowners, which makes it a fundamentally appealing program for home buyers. If you are arranging a new mortgage for a future or current home, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you will be guaranteed the lower rate.

Term	Rate	Monthly Payment
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1-Year Fixed	5.85%	$2,541
2-Year Fixed	3.69%	$2,043
3-Year Fixed	3.74%	$2,054
4-Year Fixed	3.84%	$2,076
5-Year Fixed	2.74%	$1,843
6-Year Fixed	4.89%	$2,313
7-Year Fixed	5.09%	$2,359

The rates shown are for insured mortgages with a downpayment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage.

DUCA Credit Union Variable-Rate Mortgages

DUCA Credit Union Variable Rate Mortgages provides you with fixed payments over the term; however, the interest rate will fluctuate with any changes in the prime interest rate. If their prime rate goes down, more of your payment will go towards paying off your principal; if our prime rate goes up, more of your payment will go towards interest costs. As a result, this can be a great financial tool for those expecting rates to fall in the upcoming year. A convertible mortgage allows you to convert to another term at any time. This feature provides security and flexibility, as it enables you to convert to a longer closed term should your variable rate mortgage no longer meet your needs.

Term	Rate	Monthly Payment
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3-Year Variable	3.55%	$2,013
5-Year Variable	3.25%	$1,949

The rates shown are for insured mortgages with a downpayment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage.

DUCA Mortgage Break Penalty

Bank or Lender	Variable Rate Mortgage	Fixed Rate Mortgage
	Greater of 3 Months’ Interest at DUCA’s current posted rate and the difference in interest payable due to the difference between the quoted posted rate when the mortgage was signed and DUCA’s current posted rate for a mortgage with a comparable term.	Greater of 3 Months’ Interest or the IRD amount