Mortgage Loans

Financing a New Home

We get it. Buying and securing financing for a home takes a lot of effort and can get stressful, too. We serve our members by taking the uncertainty and worry out of the equation with a personal touch that makes purchasing a home as stress-free as possible with these financing options:

• Fixed-rate mortgages
  • A great fit for home buyers with plans to stay in their new home for a number of years
  • Fixed-rate home loans available for 10, 15, 20 and 30 year terms
• Adjustable-rate mortgages
  • If you don’t plan on being in your home very long, an adjustable-rate loan can offer you more buying power
  • Adjustable-rate home loans available for three- and five-year periods (with 15 or 30 year terms)
• Maximum 97% LTV financing
  • High loan-to-value (LTV) financing lets you finance up to 97% of the value of the home
• Home Free Loans with shorter terms (5 to 10 years) for individuals who are planning or are close to retirement.
• Need to borrow a large sum? Our jumbo loan program could be a good option for you. Call us to learn more.

First-time Homebuyers

Buying your first home is both exciting and stressful. Directions has worked with thousands of first-time home buyers, educating and guiding each of them through the purchase of a first home. With our local lending decisions and member-first approach, your home-buying experience will have a personal touch that you just can’t find by working with a big bank.

Ask about the First-time Homebuyer Program:

• Access to educational guidance tools and resources
• Lower down payments
• Several closing cost options

Financing for New Construction

Build your dream home from the ground up with a new construction loan from Directions. While most lenders require two closing terms, Directions offers competitive closing costs and only requires one closing term for the entire project. No need to pay closing costs a second time.

• Finance up to 95% of the value of your purchase
• Only pay interest during your new home’s construction phase
• Competitive interest rates
  • Construction loan rates based off current published rates
• See the lot you love, but not ready to build?
  • Directions can finance the lot for your future construction
• With more than a dozen locations throughout Ohio, we’re in your region and ready to help you through every step of the financing process for your new construction
  • We have direct relationships with dozens of home builders in the region

Refinancing Your Mortgage

Directions can help put money back in your pocket. Refinancing your mortgage can be a smart way to build more equity in your home or lower your monthly payments. Not sure if refinancing is the right option for you? Give us a call and one of our refinancing experts will talk you through what it means and help you determine whether refinancing is a good option for you.

• Directions has saved consumers millions of dollars through smart refinancing strategies.
• Refinancing can lower your minimum monthly payment so you can save more now, or build equity in your home faster.
• Refinancing the equity you’ve already built can help you pay for important life events such a home improvements, school tuition and more.
• Cash-out refinancing available; refinance more than what you owe on your mortgage to get cash now.
  • Up to 80% loan-to-value (LTV)
• Rate and term refinancing available.
  • • Refinance your mortgage to get a lower interest rate or change the terms of your loan.
    • Up to 95% LTV