Posted on: 05th Jan, 2010 11:29 am
Is there any financial advantage in getting a mortgage loan or refinancing a mortgage from the institute you bank with whether it be a bank or credit union?
most credit unions now participate in the secondary market (fannie mae, freddie mac), so their offerings are identical to most other lenders, though their pricing may be different - hopefully better.
some credit unions still hold loans in portfolio, which allows them to use their own underwriting standards, if they wish, and to take risks that other lenders are wont to take. yeah, i know...look it up.
if you're with the right credit union and most other lenders won't touch you, then that's a good match. it depends, frankly, on individual circumstances.
some credit unions still hold loans in portfolio, which allows them to use their own underwriting standards, if they wish, and to take risks that other lenders are wont to take. yeah, i know...look it up.
if you're with the right credit union and most other lenders won't touch you, then that's a good match. it depends, frankly, on individual circumstances.