External Site Notice

You are now leaving Dover Federal’s website and entering a third party site. Dover Federal is not responsible or guarantee the content on that site. Privacy and security policies may differ. Please review their privacy policy for terms and conditions of use.

Stay Here Leave Site

Check Application

START APPLICATION
Ready to get started?
Fill out your loan application here.

Home Loan Rates

CHECK YOUR RATE
Are you just interested in seeing rates? Get your personalized price quote in minutes.

Check Application

 MORE INFORMATION
Not ready to apply? Fill out a quick form to chat with one of our mortgage officers.

 

 

Our Mortgage Products


Select products below to learn more.

 

Conventional Fixed Rate

Conventional Fixed Rate Mortgages

  • 10, 15, 20, 30 year terms 
  • Fixed rate and terms provide peace of mind that your rate and payment will remain the same
  • Down payment options as low as 5%
  • No private mortgage insurance (PMI) required if down payment is 20% or more 
  • Sellers can pay some of the closing cost
  • Financing offered on owner occupied primary, vacation and 1- 4 family rental properties
  • 1-4 family, PUDS & approved condos, modular and manufactured with certain restrictions
  • No pre-payment penalty
Fannie Mae Home Ready

Fannie Mae Home Ready

  • 30 year conventional fixed rate
  • 3% down payment
  • Minimum credit score: 620
  • Income limits 
  • Lower cost private mortgage insurance (PMI) that is removable 
  • Owner occupied properties only 
  • Must be owner occupied single family 1-4 unit, condo, PUD’s, or manufactured housing 
  • Cannot own other property 
  • No pre-payment penalty
Freddie Mac Home Possible

Freddie Mac Home Possible

  • 30 year conventional fixed rate
  • 3% down payment
  • Minimum credit score: 660
  • Income limits
  • Lower cost private mortgage insurance (PMI) that is removable 
  • Owner occupied properties only 
  • Single family, condo, or PUDs
  • Cannot own other property 
  • No pre-payment penalty 
Dover Federal 10/10 ARM

Dover Federal 10/10 ARM

  • Low fixed rate and payment for 10 full years
  • Fully amortized over 30 years
  • Financing up to 90% LTV
  • Closing cost assistance options
  • Only adjusts twice over 30 years
  • Caps on adjustments of 3% in year 11 with a life time cap of 5%
  • Primary residence or second home 
  • Single family, condo, or PUD
  • No pre-payment penalty 
Dover Federal 5/5 ARM

Dover Federal 5/5 ARM

  • Low fixed rate and payment for 5 years
  • Fully amortized over 30 years
  • Financing up to 90% LTV
  • Closing cost assistance options
  • Adjust every five years
  • Caps on adjustments of 2% with a life time cap of 5%
  • Primary residence or second home 
  • Single family, condo, or PUD
  • No pre-payment penalty 
Medical Professional Loan

Medical Professional Loan

  • 3% down for loan amounts up to $484,350
  • Choose between the 5/5 ARM or 10/10 ARM
  • Loan amounts up to $850,000 available 
  • No pre-payment penalty 
  • Move in up to 90 days prior to starting your next position
  • Special underwriting consideration for student loans in deferment  
Construction Loan w/ Permanent Financing

Construction Loan w/ Permanent Financing

With a construction to permanent loan, the initial loan will automatically convert to a long term mortgage loan once construction is complete. A one-time close allows borrowers to streamline the construction financing process because it requires just one approval, one closing and one set of closing costs.

  • Construction to permanent – one unit single family homes 
  • Stick built or modular
  • Minimum credit score: 680 
  • Primary or secondary (contractor subject to lender approval)
  • One time close, construction to permanent loan product
  • 12 Months allowed for completion of constructing with a general licensed contractor (no self-build) 
  • Interest only payments on balance of loan during construction phase 
  • End loan options 5/5 ARM 10/10 ARM or 15 year fixed 
Federal Housing Administration (FHA)

FHA

  • Flexible credit and qualifying guidelines
  • Fixed rate mortgage for 15 or 30 years
  • No income limits
  • Popular for first time buyer loan with lower down payment requirement of 3.5% 
  • Seller can pay up to 6% of sales process to help with closing cost. 
  • Financing on primary owner occupied residence only.
  • 1-4 family, PUDs & approved condos, modular and manufactured 
  • Mortgage insurance protection (MIP) for life of the loan
  • No pre-payment penalty 
United States Department of Agriculture (USDA)

USDA

  • Flexible credit and qualifying guidelines
  • No down payment needed 
  • Seller can pay up to 6% of sales price toward closing cost
  • Geographic and income restrictions
  • Single family homes only
  • No pre-payment penalty 
Veterans Affairs (VA) Loans

VA Loans

You must be an eligible veteran or unmarried surviving spouse of a veteran who died on active duty or as the result of a service related disability.

  • No down payment needed 
  • No private mortgage insurance (PMI)
  • Flexible credit and qualifying guidelines
  • Seller can pay up to 6% of sales price toward closing cost
  • 1-4 family, PUDS & approved condos, modular and manufactured 
  • No pre-payment penalty 

 

Testimonials

Daryl


Smooth process
"Very smooth process! The team was a real pleasure to work with."
 

Edward & Julia


Thank you for the hard work
"Excellent work throughout the process. Thank you to your team for all you hard work."

Michelle Ann


Top notch service
"Best customer service. Pleasant, patient, and top notch!"


Content Library

Enjoy a Great Social Life Without Overspending

Enjoy a Great Social Life Without Overspending

If you’re like most people, spending time with friends is one of your favorite things.

Read More
Posted in Newsroom

Buying Your First Home? Get Preapproved First.

Buying Your First Home? Get Preapproved First

It’s finally happening: You’re getting ready to buy your first home.

Read More
Posted in News on Rates

Is It Time to Refinance Your Mortgage?

Time to Refinance?

You love your home. But your mortgage? That might be a different story.

Read More
Posted in Members


*APR = Annual Percentage Rate; ARM = Adjustable Rate Mortgage; LTV = Loan to value ratio. All rates and offers are in effect as of May 2, 2022, offered for a limited time and subject to change without notice. Conventional underwriting requirements apply. Other restrictions and origination fee may apply. Contact Dover Federal Credit Union for any applicable additional restrictions and details about your loan. Rates are based on evaluation of credit history, loan-to-value, and loan term, so your rate may differ. Rates subject to change at any time. Dover Federal is an Equal Housing Lender.

1$500 closing cost assistance will be issued as a credit at the time of closing. Offer subject to change.