Mortgage through a credit union or a bank?
What are the pros and cons? Have you considered or shopped a mortgage at your local credit union? Are you a member of a credit union yet choose a bank for your home mortgage? Why or why not?
I am honestly not sure, having not applied for a loan in so long. It would depend upon the interest rates and the terms. Generally speaking the credit union sounds like a friendlier place to get approved. When I was shopping for car loans, it was darn near next to impossible to beat the credit union's rates. But there are many good bank loans out there. I would steer clear of adjustable rates and life insurance policies, however.
From experience with personal loans-not mortgages though-it seems to be easier to get a loan through a credit union compared to a bank. The one I used to have does look at the credit score and while they may be a little more flexible than a bank, they still will turn down applications if the score is too low.
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