“I’m going to be buying a home soon and I’m a member of the XXXXXX Credit Union. Should I go there to get my home loan or to my bank?”
Answer:
Credit unions are funny. Because they’re non-profit, you get some curious results…
Occasionally, credit unions have slightly more favorable rates than other lenders. And at other times their rates are above market.
Other potential downsides to credit unions are that they offer fewer loan options, are less flexible, and can be slower than other lenders.
While you should explore all options, including your credit union, we advise our clients to talk to our preferred lender who has many loan options, more flexibility, and is much quicker than most.
Call me at (858)457-KENT and I’ll put you in touch with my favorite loan representative.
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