Mortgage Program

Why Choose DOY Federal Credit Union for Your First Mortgage?

Purchase or Refinance with Confidence

Our first mortgages are designed to help you purchase a new home or refinance an existing mortgage with ease and transparency.

Fixed Rates Up to 23 Years

Enjoy peace of mind with low, fixed interest rates for up to 23 years. Unlike second mortgages, which have a maximum term of 12 years, our first mortgage terms offer long-term stability.

Extra Payments = Big Savings

Every extra dollar you apply to your loan goes directly toward the principal balance. That means:

You’ll pay less interest on your next payment.
You’ll reduce the total interest paid over the life of the loan.
You’ll pay off your mortgage faster—saving even more in the long run.

No Prepayment Penalties

Pay off your loan early or refinance elsewhere without any penalties.

No Late Charges

Interest is calculated only on the outstanding balance for the exact number of days it’s owed. Pay early, and you pay less interest.

Local Service You Can Trust

Your loan stays with DOY. No secondary market sales, no phone trees, just real people in Youngstown who know you by name.

Why Us

DOY Second Mortgage Loan

Loan Benefits

DOY offers fixed-interest rates for up to 12 years, with borrowing limits up to 80% of your home's appraisal value, minus your remaining first mortgage balance.

No Extra Fees

Enjoy no application fees, prepayment penalties, or late charges, keeping your loan straightforward and affordable.

Avoid Hidden Costs

Some lenders disguise fees through points or prepaid finance charges. Always review the Good Faith Estimate, which discloses all costs before you sign.

Know Your Rights

After signing, borrowers have three business days to cancel without penalty. Always examine documents carefully before committing.

Understanding PMI (Private Mortgage Insurance)

PMI is a fee banks charge when down payments are under 20%. It protects lenders, not borrowers, in case of foreclosure. Since many loans are front-loaded with interest, PMI can add years of unnecessary payments.

Transparent & Simple Mortgage Program

DOY’s mortgage program is built on integrity and transparency, providing an honest and straightforward path to homeownership that’s free of surprises. From application to closing, every step is designed to be clear and fair—no hidden fees, no confusing fine print, and no gimmicks that leave you second-guessing your choices. We believe in empowering borrowers with fair financing that reflects their real needs, offering competitive rates without sacrificing trust. With DOY, your journey to owning a home is guided by principles, not profit, ensuring that you're supported every step of the way. Whether you're buying your first house or refinancing your current one, our team is committed to making the process smooth, stress-free, and tailored to your financial goals.