Credit Unions can make a big difference in the purchase mortgage market. We have much more than sound advice and counseling to offer members on their next real estate purchase. Just like profit motivated lending institutions, credit unions provide online tools members can use to get information, determine loan type, calculate estimated payments, find properties for sale, and apply for their mortgage online. However, we’re different in several ways. Because credit unions are non profit, we save our members on intangibles taxes that are required with profit oriented lenders. Over the years, credit union mortgages have had a better payment history over profit oriented lenders and because of that reason, credit unions are able to get better terms with private mortgage insurance (PMI) such as higher LTV’s and lower credit score requirements.
It’s time to share our advantages with members and realtors and bring our service oriented differences to the forefront of the purchase mortgage market.
It’s time to share our advantages with members and realtors and bring our service oriented differences to the forefront of the purchase mortgage market.
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