Shopping for a mortgage can be a relatively simple process with DuTrac Community.  We believe a fully informed consumer is in the best position to make a sound economic choice.  If you are buying a home, refinancing, building or looking at a second home, and are looking for a home loan, our Real Estate Loan Consultants can help you answer any questions you may have.  We offer great rates and terms, local service and the convenience of automatic payments to help you save money.  

The most common home-buying options are:

• Fixed Mortgages
• Adjustable Type Mortgages
• First Time Home Buyer Program

Fixed Rate Mortgages offer three popular features:

1. Fixed interest rate
2. Fixed monthly payment
3. Scheduled amortization

This means the loan is fully paid off by the end of the loan term.  Standard mortgages allow home owners to lock in interest rates for up to 30 years, although shorter terms are available. 

Adjustable Rate Mortgages (ARM) is a loan where the interest rate is tied to a specific "index" and can change every year, three, five or seven years and payments may go up or down accordingly.

First Time Home Buyer Programs are for first time buyers who would not usually qualify for a fixed rate mortgage.  These loans require no down payment and have low fixed interest rates.   

To find out which loan best fits your personal needs, contact a Real Estate Loan Consultant at (563) 582-1331, 1-800-475-1331, or at realestate@dutrac.org.  Our consultants will be happy to explain our home loans and get you started on purchasing your dream home.