Thursday, May 18, 2006

Dream Home Certificate

She said

He and I just opened a 60 Month Certificate from Digital Federal Credit Union (DCU).It needs a minimum starting deposit of $100 and the maximum amount is $25000.

Some of the highlights:

* The interest is variable currently 5.2% will be adjusted according to maximum current rate.
* You can keep adding to your deposit till you reach your goal amount which is at max $25000
*If you borrow against it for the downpayment toward the purchase of your new home there is no withdrawal penalty.

We are planning to buy a house in a couple of years(when prices are not as astronomical as they are now) and there is no time like now to start saving for it!

Let us know if any of you have come across similar schemes with other banks or financial institutions.

More details here

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