Diamond Mortgage


The DFCU Diamond Mortgage - Terms and Conditions

Summary Portfolio product with no minimum down payment and no PMI requirement designed to benefit members with investment/depository accounts totaling at least $250k with DFCU Financial. Financing provided through this program is only available for properties located in the state of Michigan or Florida.
Available Product Type SOFR 5/6 ARM, SOFR 7/6 ARM
LTV & Loan Amount
  • Primary Residence - 100% to $1M, 90% to $1.5M
Prepayment Penalty None
Loan Assumption None
Eligible Properties 1-unit dwellings, attached and detached condominiums, PUDs
Escrow An escrow account must be established for property taxes, and flood insurance, if required
  • No Private Mortgage Insurance
  • Minimum annual combined income of $200k
  • Verification of minimum assets of $250,000 on deposit with DFCU (may be any combination of depository and investment accounts with DFCU)
  • Occupancy – Primary Residence
  • Minimum Credit Score - 700
  • DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)
Servicing Retained