Credit Union Mortgage Loans

Dover Federal's Affordable Home Buyer Program helps low to moderate-income buyers finance down payment and closing costs of up to 105% of the purchase price or appraised value.

• 105% CLTV means limited funds needed for settlement
• Purchase Price up to $335,000
• Minimum 680 credit score - other conditions also apply
• The perfect mortgage for your unique needs
• Quick and easy closings
• Dover Federal can help open the door to your new home

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 

• 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 

• 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 

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 

• 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

• 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

• 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 

• 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  

• 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 

• 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 

First Front Door (FFD) provides down payment and closing cost assistance to eligible first-time homebuyers. By contributing a minimum of $1,500 toward down payment and closing costs, eligible homebuyers may be eligible to receive a FFD grant up to $15,000.  Grant funds are limited, so having the appropriate documents for pre-qualification will help expedite your application when applications open.

• 3 most recent pay stubs
• 2024 and 2023 W2 Forms
• 2 most recent bank statements
• * Other items may be needed after reviewing your application