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Real Estate


As an important financial decision, you can turn to us for funding when purchasing or refinancing a home. Our experienced and friendly professionals are ready to help find a loan that is just right for you with:

  • Personal service
  • Competitive rates
  • Flexible underwriting
  • Low closing costs
  • Ease of application


Mortgages

A Home Equity Loan is the smart way to finance home improvements, achieve a higher education, make large purchases, or to consolidate higher interest rate debt. Not only do you get a low interest rate, but the interest portion of your payments may be tax-deductible (consult your tax advisor for details).

There are two types of Home Equity Loans to choose from:

Home Equity Line of Credit

A variable rate Home Equity Line of Credit allows you to access funds (up to your approved limit) as you need it.

  • Revolving line of credit secured by the equity in your home
  • The rate is the sum of the index and a margin
  • The index is Wall Street Journal Prime Rate and the margin will be determined by your personal credit score
  • Access the line by loan draft, on the Internet, or stop by one of our branch offices

Traditional Non-Variable Rate Home Equity Loan

A Traditional Home Equity Loan provides a non-variable interest rate, one lump-sum payout, and equal monthly payments over a specific time period.

  • Closed-end second mortgage secured by the equity in your home
  • Rates are determined by your personal credit score and length of loan you choose

Home Equity Lines of Credit and Traditional Non-Variable Rate Home Equity Loans:

  • Require appraisal, property search, flood zone certification, and recording of documents
  • Loan disbursement will be made after a three business day waiting period after all documents have been completed and signed

Loan Rates

APR (As low as*)

Home Equity 4.94%
Home Equity Line of Credit 3.50%
Home Improvement 6.69%
1st Lien Home Equity (120 months) 2.99%**


*APR is Annual Percentage Rate. The Annual Percentage Rate is the advertised rate and can vary based on creditworthiness and terms of the loan. Rate is subject to change. This offer may not be combined with any other offer. The stated rate for the Home Equity loan is discounted which includes: a requirement of automatic loan payment transfers, direct deposit of net pay and a checking account for .50% discount. Refinancing of existing Dover Federal Loans may not be available. See Credit Union for details.

**Offer is valid for a limited time only, subject to membership eligibility and credit approval. APR is the Annual Percentage Rate, which is the advertised rate. The advertised rate may vary based on creditworthiness, and terms. The advertised rate is a fixed rate for a loan term of no more than 10 years (120 months), requires a first lien position against your home, and 80% loan to value. The stated rate for the 1st Lien Home Equity loan is discounted which includes: a requirement of automatic loan payment transfers, direct deposit of net pay and a checking account for .50% discount. Home Equity loans or lines currently financed with Dover Federal Credit Union cannot be refinanced with this offer. See Credit Union for details.

Refinancing of existing Dover Federal Loans may not be available.

Land Loans

Want to start your home building dreams with some land first? If so, a Dover Federal Land Loan is perfect for you! Purchase or refinance a piece of land in the state of Delaware and receive a competitive fixed rate. Plus, borrow up to 80% loan-to-value of either unimproved (raw land) or improved land for up to 12 years!

For more information or an application, call 302-678-8000 from Kent County, 302-322-4230 from New Castle, or toll free at 888-818-3328.


Loan Rates APR (As low as*)
Land Loans 4.94%


*APR is Annual Percentage Rate. The Annual Percentage Rate is the advertised rate and can vary based on creditworthiness and terms of the loan. Rate is subject to change. This offer may not be combined with any other offer. The stated rate for the Home Equity loan is discounted which includes: a requirement of automatic loan payment transfers, direct deposit of net pay and a checking account for .50% discount and requires Debt Protection Life and Disability for .25% discount for a total discount of .75%. See Credit Union for details.

Refinancing of existing Dover Federal Loans may not be available.

Loan Payment Calculator

Loan Payment Calculator


Debt Protection

Sometimes taking out a loan can be a financial gamble.

Help play it safe!

Thinking about taking out a loan to make home improvements or buy a vehicle? It can be a financial gamble because life happens. You are betting you can pay back your loan and you will not lose your job (due to no fault of your own), or become disabled (due to injury or illness), or pass away-leaving your family responsible for your loan balance.

MEMBER'S CHOICE™ Borrower Security* is a voluntary loan-payment protection product that helps preserve your family's standard of living and gives you relief from financial burdens if a protected life event such as disability, loss of life, or involuntary employment happens to you.

Call a Member Services Representative at 302-678-8000 or 888-818-3328 and ask about protecting your loans today, or click here for more information.

*Your purchase of MEMBER'S CHOICE™ Borrower Security is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of MEMBER'S CHOICE™ Borrower Security.

Easy to Apply

To apply for your loan online, click here. You may also fax your application to 302-678-4391, or call 302-678-8000 from Kent County, 302-322-4230 from New Castle, or toll free at 888-818-3328 during regular business hours to have a friendly credit union representative take your information over the phone.

Convenient Payment

Dover Federal offers several easy-to-use payment methods:

  • Through automatic deduction from your Dover Federal Checking Account

  • By mail

  • Through our automated teller, Maxine, 302-678-8024 or 800-818-3328.

  • Through the My Account

  • In person at any Dover Federal branch office

  • Through Payroll Deduction, which allows you the ease and convenience of setting aside a certain
    amount each pay period to be deposited to the account(s) of your choice at Dover Federal

To enroll in Payroll Deduction, provide the following information to your employer:

  • DFCU Routing/Transit Number 231176648

  • Member Number from your membership card

  • Select either your savings or checking account for the deposit

Dover Federal Credit Union • All rights reserved 2013
Dover Federal Credit Union is an Equal Opportunity-Affirmative
Action employer.
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