What are closing costs?

Closing costs are the expenses that buyers and sellers must pay to complete a real estate transaction. Types of closing costs include origination, discount points, settlement agent, title search, recording, appraisal, inspection, flood certification, transfer tax and lender processing fees.

What is the Annual Percentage Rate (APR) for a 1st mortgage?

The Annual Percentage rate reflects the annual amount of interest you will pay for your mortgage. The APR is likely to be higher than the actual interest rate on the loan because it factors in the costs and fees associated with obtaining the mortgage loan and provides a true cost of the loan. When shopping for a mortgage, the APR allows you to compare different types of mortgages among lenders.

I cannot remember the Username or Password to sign into my mortgage loan in progress.

If you have forgotten your Username or Password, click the "Forgot your username or password?" link located on the Mortgage Center page or contact your Home Loan Specialists for assistance.

In what states does Delta Community offer mortgage loans?

We offer first and second mortgages in the following states:

• Alabama
• Arizona
• California
• Colorado
• District of Columbia
• Florida
• Georgia
• Indiana
• Kentucky
• Maryland
• Massachusetts 
• Minnesota
• New York
• North Carolina
• Ohio
• South Carolina
• Tennessee
• Texas
• Utah
• Virginia

To apply for a mortgage in another state locate a credit union in your state at www.creditunionsonline.com.

On what properties does Delta Community offer mortgage loans?

We offer first (purchase or refinance) mortgages on the following properties:

• Single-family residence  
• Duplex/Residential housing 1-4 units 
• Planned Unit Development (PUD) - subdivision
• Condominium
• Townhouse

The occupancy types are:

• Primary residence
• Second or vacation home
• Investment Properties

What types of mortgage loans are not offered at Delta Community?

We do not currently offer FHA loans, VA loans, USDA loans, Bridge loans, Agricultural loans or "rehab" loans.

What types of structures will Delta Community Credit Union finance with a mortgage loan?

Loans are available on the following types of structures:

• Single-family residences  
• Duplex/Residential housing 1-4 units
• Planned Unit Developments (PUD) –subdivisions
• Condominiums
• Townhomes
• Land/Lot for future building of residence

We do not offer mortgage loans on mobile homes.

What type of first mortgage products does Delta Community offer?

We offer the following types of first mortgages:

• Fixed Rate Mortgages
  • 10-15-20 or 30 year terms with or without origination fee
  • Land/Lot Loans 5 and 10 year terms
• Adjustable Rate Mortgages
  • 3/1 ARM
  • 5/1 year term with or without origination fee ARM
  • 7/1 year term with or without origination fee ARM
  • 10/1 year term with or without origination fee ARM 
• First Time Home Buyer Mortgages- No Origination Fee
  • 15 or 30 year terms
  • 5/1 ARM
  • 7/1 ARM
  • 10/1 ARM
• 100% Financing - Purchase of Primary Residence
  • 10-15-20 or 30 year terms with or without origination fee
  • 5/1 year term with or without origination fee ARM
  • 7/1 year term with or without origination fee ARM
  • 10/1 year term with or without origination fee ARM
• Jumbo loans
  • For properties over $548,250

See our rate sheet for additional information on our first and second mortgages.

What type of second mortgage products does Delta Community offer?

We offer the following types of second mortgages:

• Home Equity Fixed Rate
  • 5–10 or 15 year terms
  • Offered on Primary Residences and Second or Vacation Homes
• Home Equity Line of Credit (Not available in Texas due to state laws)
  • Offered on Primary Residences Only
• Purchase Money Second Mortgages (first mortgage must be with Delta Community)
  • 5-10-15 year terms
  • Offered on Primary and Second Homes Only

Where can I determine what my monthly payment and closing costs would be on a mortgage loan?

Please contact a Home Loan Specialist for more details.

On what day of the month is my first mortgage payment due?

First mortgage payments are due on the 1st of every month. A late fee is assessed after the 15th day of each month.

How do I lock the interest rate on my application in process?

You may contact your Home Loan Specialists to request a rate lock.

When will an appraisal be completed on my home and how much are the appraisal fees?

Once an appraisal is ordered by Delta Community, the appraiser will call to make an appointment to appraise your home.

Appraisal fees vary depending on the type of appraisal request and the size of the property to be appraised. Contact you Home Loan Specialist for further details.

If I previously applied for a home loan, can I use the same Login ID and Password when applying for another loan?

Yes. You may use the same Username and Password to apply for a new home loan.

I cannot remember the Login ID and Password to sign into my mortgage loan in progress.

If you have forgotten your Login ID or Password, contact your Home Loan Specialist or send an email to the Mortgage Information Center. If you do not know the Home Loan Specialist who has been assigned to your loan, any Home Loan Specialist can assist you.

I just submitted an application and would like to add or remove my spouse as a borrower.

The Home Loan Specialist assigned to your pending mortgage loan would have to make any changes to the application.

Do I receive a lower interest rate if I enter my mortgage application online?

Online applications for mortgages do not receive a lower interest rate.

How do I obtain a pre-qualification letter?

Please contact your Home Loan Specialist to request your pre-qualification letter after you have completed the online application.

I have applied for a mortgage loan and received my initial disclosures, but I have questions. Who should I contact?

The Home Loan Specialist assigned to your loan application can answer questions about your initial disclosures.

Are appraisal fees refundable if I do not qualify for the loan or wish to withdraw my application?

Appraisal fees are not refundable unless the appraisal is not ordered. Please contact your Home Loan Specialist to speak with them about the appraisal fee refund process/eligibility.

Do you offer a First-Time Home-Buyer program?

Delta Community offers a First-Time Home Buyers loan product. Contact one of our Home Loan Specialists for details.

What is the minimum score needed to be considered for a mortgage loan?

Delta Community Credit Union requires a minimum middle credit score of 640.

What is the contact information for the Residential Lending?

Mailing Address:

Residential Lending
P.O. Box 4029
Peachtree City, GA 30269

Physical Address:

Residential Lending
315 North Highway 74
Peachtree City, GA 30269

FAX Number: (770)-632-8829 - Servicing

When was my annual escrow statement mailed?

Statements are mailed annually throughout the year.

I am a co-mortgagor. Will I receive my annual loan statement?

Delta Community Credit Union sends one statement to the primary borrower at the current mailing address or within the primary borrower’s Online Statements, if signed up for this option.

Will my monthly escrow amount ever change?

It is likely that your monthly amount will change since a fluctuation in tax and/or insurance premiums is common. You will be notified of any changes on your annual escrow statement.

Why did my payment change?

Hazard Insurance Premium

Your hazard insurance premium may have decreased or increased if you changed the type or extent of your insurance coverage, or your insurance company may have changed your insurance rate. Also, if you received a refund check after changing your insurance provider and did not deposit this back to your escrow account, this may cause a shortage and in turn increase your payment amount.

Real Estate Taxes

Your Real Estate taxes may have changed (decreased or increased) as a result of your property being reassessed or the tax rate itself may have changed (decreased or increased). If you have appealed your property taxes and you are granted an adjustment, please notify us so your account can be updated accordingly.
Annual tax bills are automatically sent to the Escrow department therefore it is not necessary to forward a copy of the tax bill. If you receive an additional tax bill (generally as a result of a submitted appeal), contact the Escrow department at 404-677-8785. Additional tax bills are mailed to the homeowner and it is the homeowner’s responsibility to notify the Escrow department so that payment may be issued.

If you have questions about your property taxes or homeowner's insurance premiums, please contact your local taxing authority or insurance agent.

Why did I not earn interest on my escrow account?

Delta Community Credit Union is required to pay interest on escrow accounts only for specified states. If your statement does not reflect interest earned on your account, then your state does not require interest to be paid on your escrow account.

If I have a shortage and/or deficiency in my escrow account and wish to pay it in full, where do I send my payment?

There are two ways to make this payment:

• You may contact the Escrow department 404-677-8785 to request a transfer from your Delta Community Credit Union share accounts or
• Submit payment by check - Make the check payable to Delta Community Credit Union and write your loan number and “escrow shortage payment” on the check. Mail payment to:

  Delta Community Credit Union
  Mortgage Servicing Department
  P.O. Box 4029
  Peachtree City, GA 30269

Will my escrow payment amount remain the same if I pay my shortage in full?

If your property taxes and/or insurance premium increased during the past year, your escrow payment amount will likely increase.

Can my escrow balance be refunded?

Delta Community Credit Union performs an escrow analysis annually. You will be notified of any overage at that time. If your loan is current, overages in excess of $50.00 will be refunded to your Delta Community Credit Union Savings account. If your surplus is less than $50.00, the funds will remain in your escrow account and your monthly payment will be adjusted.