Mini-Mortgage

Looking at a 15-year mortgage? Consider a Mini!

Shorten your loan term and potentially save thousands! Dupaco's Mini-Mortgage is an ideal loan option for members who want to have their home paid off within the next 10 years.

The Mini-Mortgage features a low annual percentage rate, especially when combined with cooperative discounts based on member account relationships. Here are a few benefits of a Mini-Mortgage:

  • Local servicing from Dupaco
  • Manage your loan through Shine Online Banking
  • Receive a consolidated financial statement
  • Pay a lower effective interest rate through the ability to make weekly/bi-weekly payments. Discover how bi-weekly payments work.
  • Save money!

You pick the term...10 years, 7 years, 5 years...whatever works for you. While your current payment may increase, you’ll pay less over the life of the loan, saving yourself thousands of dollars and accelerating the payoff. Below is an example of how you can save on a Mini-Morgage:

Example of savings difference between a mortgage refinance and a Mini-Mortgage

Why would we want you to pay us less interest over the life of your loan? Because Dupaco is a credit union—we put people before profits. And we take seriously our mission to promote thrift and help families get ahead.

To ensure you’re saving more and paying less on your home loan, contact Dupaco to request a no-cost, no-obligation Mortgage Makeover at 800-373-7600 / (563) 557-7600, ext. 202, or email us at loans@dupaco.com. It's a good look for your financial future!

Mini-Mortgage Loan Rates

It pays to borrow from Dupaco. Thanks to our Cooperative Loan Giveback, you can receive bonus loan rate discounts off our already low rates. The more business you do with us, the more we can afford to return to you in the form of an even lower loan rate. Here are the relationship tiers used to determine Cooperative Giveback Pricing:

0.05% Rate Discount: Savings, Checking & Automatic Payment
0.10% Rate Discount: Savings, Checking, $1,500 or more in a savings or loan account, direct deposit & automatic payment
0.15% Rate Discount: Savings, Checking, $1,500 or more in a savings or loan account, direct deposit, automatic payment, Dupaco VISA card & any one of the following: Certificate, IRA, Home Equity Line of Credit, or other loan


Mini-Mortgage Loan Rates2

12/9/2018
Loan Program Term Annual Percentage Rate3 Cooperative Giveback Rate (As Low As) 1
Mini-Mortgage 10 Years or Less 4.75% APR (4.00% Floor) 4.60% APR (4.10% Floor)
1Cooperative Loan Discount Rates: To qualify for Cooperative Loan Giveback discounts, you must have the following account relationships with Dupaco Community Credit Union:
Savings, Checking, Automatic Payment: .05% discount;
Savings, Checking, $1,500 or more in a savings or loan account, direct deposit, automatic payment: .10% discount;
Savings, Checking, $1,500 or more in a savings or loan account, direct deposit, automatic payment, Dupaco VISA card, and any one of the following: Certificate, IRA, Home Equity Line of Credit, or other loan: .15% discount.
2Mini Mortgage payment example for illustrative purposes only: If you borrow $20,000 at 4.40% annual percentage rate (APR) with a 10 year term, your minimum monthly payment obligation would be $206.31. Over the life of the loan you will pay $4,757.69 interest.
3Mini Mortgage Rates: Subject to credit qualification. Members can qualify for an additional .50% on the cooperative loan discount rates for LTV 45% or less. Up to 75% maximum loan to value based on tax-assessed value with an appraisal. Member is responsible for closing costs, which could be less than $400. Repayment terms of ten years or less available. The Annual Percentage Rate (APR) varies based on program selected. Selected APR will remain fixed for the duration of the term of the loan. Owner-occupied property only. Property insurance required. Rates subject to change without notice.

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