Credit Union mortgage loans

Did you know there are still common sense mortgage loans?

It is becoming more difficult to qualify for loans. In high cost areas, credit worthy borrowers with high fico credit scores, excellent cash reserves, and excellent income are paying a premium on their real estate loans. Go to your local Credit Union.

Many credit unions have a common sense lending approach. They portfolio versus sell their loans to the secondary markets. This means they keep the loan and do not sell it. It also means they are able to make credit decisions that many financial institutions are unable or unwilling to make.

How can a credit union do this? They are not customer driven but membership driven. When you join a credit union, you become a member of a not-for-profit organization designed to serve its members. Credit unions were originally formed to serve specific companies but have now expanded to be able to serve individuals in certain counties of certain states.

Unlike a bank, you must qualify to become a member of a credit union and you must pay a membership fee. If you do your research there is a credit union able to serve your financial needs, which include credit cards, auto loans, personal loans, and free educational seminars.