Wednesday, January 20, 2021: Inauguration Day – Democracy FCU will be open and operating business as usual.
Lock in a monthly payment and interest rate that will not change for 5 years. Every 5 years, the interest rate is adjusted. Adjustments fall in years 6, 11, 16, 21 and 26.
For many homebuyers, lower monthly payments offer the opportunity to afford a bigger home. Adjustable-rate mortgages like the 15/15 ARM RateBuster Loan, typically offer a lower initial interest rate than other 30-year fixed-rate loans that results in lower monthly payments.
For homeowners who are 62 years or older, let your home start working for you! With a Reverse Mortgage, homeowners can convert part of the equity in your home to cash with no restriction on how you use the funds. The borrower retains title/ownership of the home and the lender will never own the home.
Buying your first home is a very exciting time and we want to keep it that way! We will help you decide what mortgage best suits your needs, by comparing rates and features, and sorting through all the mortgage lingo with you. Our First Time Home Buying Program offers several mortgage types.
Looking to purchase a new home? Or are you selling a home? Our HOME Advantage Program helps save you time and money.
If you’re tired of refinancing your mortgage to keep up with lower rates the HarmonyLoan is right for you. The HarmonyLoan™ is a unique mortgage loan offered by Democracy FCU through our mortgage partner Credit Union Mortgage Association.
With a HarmonyLoan™ when interest rates fall, you manage your own rate-reset online. A simple "click" locks in your new interest rate. You may be eligible to request a reset of your rate or the fixed rate period of your loan every 120 days.
The HarmonyLoan™ program resets your interest rate with No Points and No Closing Costs. It’s fast, easy and affordable.
When you refinance a traditional mortgage loan, the rate is based on your current financial situation. Changes in your situation—such as a job loss, salary reduction or significant purchase—can impact your ability to qualify for a refinance. With the HarmonyLoan™ as long as you pay on time, you can lower your rate instantly.
To find out more details about the HarmonyLoan™ call 703.647.7066.
There’s No Place Quite Like the Place You Call Home
Your home is unique—just like you—and it holds your most treasured memories. Now that’s worth protecting.
Get a free quote today and help make sure the place you call home has the protection it deserves.
With an Adjustable Rate Mortgage, the interest rate may change in relation to an index and payments go up or down accordingly.
If you don’t plan to stay in your home for a long time, you may want to consider an ARM, which typically has a lower initial interest rate than a fixed rate, and you may save money on interest charges. The money you save could be put toward retirement, paying off debt, building an emergency fun, and more.
With a Fixed Rate Mortgage, the interest rate and monthly payment of principal and interest stay the same for the life of the loan.
Mortgage and Consumer Loan Officer Jules King has extensive knowledge and over the last 17 years has become very passionate about helping people achieve their home-ownership dreams. He will be there for you every step of the way to make sure you feel confident and informed, whether you are buying, refinancing or building. Jules is ready to help you understand your unique needs, discuss your options and help you make the most of your money!
Phone: (703) 647-7063
Email: jking@democracyfcu.org
Fax: (571)527-2333
Mail: Attn: Jules King c/o Democracy FCU,
400 N. Columbus Street, Alexandria, VA, 22314