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Home Loans

Home Loans

Let Downey Federal Credit Union help you get into your first home, your dream home or refinance your current loan from another lender.

  • For purchase or refinance
  • Up to 80% Loan-to-Value (LTV)
  • Low, competitive rates change daily
  • Conforming and Jumbo Loan options available

80/10/10 Home Loans

Looking to purchase a home, but don't have a large enough down payment to avoid the costs of Private Mortgage Insurance (PMI)? Breaking up your home loan into two mortgages with a down payment might be the option for you. An 80-10-10 loan can help home buyers avoid the cost of PMI by helping with the down payment.

An 80-10-10 loan is two mortgages, plus a down payment:
First mortgage: 80% of the purchase price
Second Mortgage (Home Equity Loan): 10% of the purchase price
Down payment: 10% of the purchase price

An 80-10-10 loan from DFCU brings you closer to your dream home without having to come up with the traditional 20% down payment. Call us at 562.862.8141 to learn more.

Jumbo Loan

Jumbo mortgage is a mortgage loan that may have high credit quality, but is in an amount above conventional conforming loan limits. (Usually loan amounts higher than $417,000)

Conforming Loan

A conforming loan is a mortgage loan that conforms to government guidelines. (Usually loan amounts lower than $417,000)

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Interested in a Home Loan?

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Or call us at 562.862.8141

  • Conforming loan amounts conform to GSE (Fannie Mae and Freddie Mac) guidelines
  • Jumbo loan amounts are anything above conventional conforming loan limits
  • Payments can be made in branch, by phone, by mail, via online banking or direct deposit
  • Rate based on FICO/credit score
  • 15-day grace period on payments
  • Late payment charge: 5% of payment amount
  • No application fee
  • No pre-payment penalty
  • Apply online HERE
  • Over the phone at 562.862.8141
  • In branch
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