Community Experts Loan
For all of the expert advice you’ve given, let our experts help you finance the perfect home.
We wouldn’t be the credit union we are today without the hard work and dedication of our community experts. That’s why, to show our appreciation for the work you do and the services you provide, we offer the Community Experts Loan – a 0% down payment home loan option.
We Invite You to Apply If You Are a:
- Certified Public Accountant (CPA)
- Chartered Financial Analyst (CFA)
- Certified Mortgage Banker
- Designated Actuary
Why Choose DuPage Credit Union for Your Home Loan
With over seven decades of experience, our Team of Home Loan Experts have built a solid foundation of trust, dependability and local expertise helping Members finance their homes. Also enjoy:
- Our local non-commissioned home loan experts who will work with you from your application, to closing and throughout the life of your loan.
- Our Mortgage Care-N-Tee to meet your original closing date.
- No application fee until you lock your rate.
- A rebate of up to $5001 at closing when you buy a home with one of our Preferred Realtors.
- Lower Private Mortgage Insurance (PMI).
- Up to 5 coupons for 15% off each from Sears.
Frequently Asked Questions
- Will I have to pay Private Mortgage Insurance (PMI)?
Yes. Because you aren’t required to make a down payment, PMI is required until you’ve paid 20% of your loan. Once you’ve reached 20% equity, you can contact us to remove the PMI or it will automatically be removed once you’ve paid 22% of your loan.
- Can I still qualify if I’ve owned a home before?
As long as you don’t currently own a home, you can qualify for our Community Experts Loan.
- Can I apply gifts or grants toward the down payment?
Yes, if you’d like to make a down payment, you can use money that’s been gifted to you or grants for housing.
We lend in all of Illinois for primary residence. Minimum credit score requirements apply. Cannot currently own another home. Minimum loan amount is $50,000. Other terms may be available. Other restrictions may apply. Members must be in good standing. Documentation of employment is required to verify the member's position. 1$500 Mortgage Care-N-Tee is based on the mortgage loan closing date provided in the original sales contract. This guarantee is only available on conventional purchase mortgage loans in the state of Illinois with closing dates set for a minimum of 30 days after the original purchase contract is signed and received by the Credit Union. Loan closing date is subject to receipt of completed application and required supporting documentation. Required supporting documentation must be provided no more than two (2) business days after application receipt or request from the Credit Union. Loan closing is subject to underwriting approval.