HOME LOANS

Choose a home loan that meets your needs:

• Mortgage Loans
• Home Equity Loans
  • Home Equity Line of Credit
  • Home Sweet Loan
  • 5 & 10 Year Loans
• Welcome Home Program
  (for moderate to low-income homebuyers)

Home Equity Loans
You work hard to build equity in your house. Put that money to work for you with a home equity loan or line-of-credit from Day Air Credit Union. We offer up to 90% home equity loans, and you'll find us to have competitive rates and flexible repayment terms. Plus, the interest paid may be tax-deductible - consult your tax advisor for details.

In addition, we offer quick turn around time by utilizing online appraisal's when possible. Contact our professional loan staff for additional details on our home equity products!

* Upon approved credit - based on credit qualifications. Applicable interest rate varies depending on your credit qualifications and loan to value ratio. APR = Annual Percentage Rate. The equity line has a variable rate feature and is indexed to the Prime Rate. Maximum Home Equity loan is $200,000. DACU's mortgage programs are available only to residents in the State of Ohio. Consult your tax advisor for tax deductibility. Closing costs can range up to $333.

1st Mortgages
With all of the different mortgage lenders available, how do you know who you can trust? The mortgage professionals at Day Air have your best interest at heart.  They take the time to meet with you, review your individual financial picture, and help you choose the mortgage program that's right for you.

When shopping, rates and closing costs may seem very low and the advertised monthly payment may look extremely attractive... but what's included (or excluded) in that monthly payment? Are your taxes included? Do you have to pay points? Is this program going to fit your individual situation? Day Air has the knowledge and experience to find a mortgage loan that meets your needs and your budget.

Let our mortgage professionals help you discover all of the ins, outs and small print that isn't always easy to understand. Your home is probably going to be the largest purchase you'll make in your lifetime so you want to be sure you're getting the best deal. We will help you every step of the way, and you can trust your credit union to guide you in the right direction.

Day Air offers:

• 10, 15, 20, 30 Year Fixed
• 3 & 5 Year ARM
• No Cost 30 Year Fixed
• FHA & VA
• Rural Development Home Loan (100% Financing)

• Pre-approvals Available - Before you begin shopping for your new home, it is very important to get pre-approved first. Many real estate agents require this before beginning the search for your new home. Plus, it gives you a significant advantage when negotiating the purchase of your dream home.
• Application Process - The following is a list of documents needed to process your mortgage loan application.
  
  • Current pay stubs covering the most recent 30 days
  • W-2s for the last two years
  • Your last two months' financial statements
  • Most current investment statements
  • Homeowner's insurance information
  • If self employed you will need a copy of the last two years' federal tax with original signatures
  • Depending upon your situation, additional information may be required

  For your convenience you can apply online. One of our Mortgage Professionals will get back to you with a quick response to set up an interview with you.   

  If you do not wish to apply online stop at any of our branches or call us at 937-643-2045. 
  
  Whether it's your first mortgage or your third, you can trust your credit union to guide you through the process. Check out our mortgage calculators!  For additional program or rate details, please contact us.

• Mortgage Loan Professionals
  John Theobald 937-643-2078 or Michelle Pyle 937-643-3814

Welcome Home Program
The Federal Home Loan Bank ofCincinnati has established Affordable Housing Program (AHP) funds to help create homeownership through a program called Welcome Home.

You might be eligible to receive a Welcome Home grant! Just contact John at (937)643-2078 or email him at jtheobald@dayair.org

Details include:

• $5,000 Down Payment and Closing Cost Assistance*
• Program began May 1st, 2009
• Funds are available on a first come, first serve basis

*Income restrictions apply.

Buying or selling a home?
Purchasing or selling a home is a big decision.  You want someone you trust to work with you and for you.  Day Air wants to help!  We want to share with you our Preferred Realtors who we've had the pleasure of working with.  Make your choice easier by clicking here.  And remember we offer a wide variety of loan products...one to fit your needs!  Click here for mortgage loans!