Mortgage and Home Loans

3 Reasons to Get a Mortgage at a Credit Union

You’ve found the perfect house for you and your family, but have you thought about who you’ll choose as your mortgage lender? National banks aren’t the only institutions that provide mortgage loans; credit unions are another option – and often times a much better one! When it comes to credit unions, your mortgage loan officer is there to serve you and has your best interest at heart.

A Personalized Experience

Loan officers in credit unions work face-to-face with their members to ensure that they receive proper guidance and assistance through the entire lending process. In addition to gathering the information required for approving and processing a mortgage, credit unions are more willing to slow down and guide their customers through the mortgage application and underwriting process. They also educate their members on the type of loans available for consumers based on their specific needs and situations.

You’ll Save More Money

Credit unions offer more flexibility than other lenders do and tend to be a little less aggressive when it comes to the fees and repayments. Because a credit union works to serve its members, there are big cost-savers such as lower rates, lower fees, flexible loan options, and higher yields on savings. Also, credit unions are member-owned, non-profit organizations, and the savings are passed on to the members. This is different from banks and other lenders whose sole purpose is to generate revenue for stakeholders  - meaning that they might have to charge higher fees.

Low Credit Score? Credit Unions Offer Flexibility

Credit unions have the commitment and flexibility to support their members, offering a variety of options for those who don’t have the highest credit profiles. Getting a mortgage loan in Santa Fe from a credit union can be a real advantage if you can buy a home but don’t have the best credit history or have a shorter job history, fewer income sources, and higher debt-to-income ratios. Traditional banks have a harder time being flexible.  Furthermore, credit unions offer mobile home financing, manufactured home financing, land loans, and special programs for first-time borrowers. Apply now.

Choose Del Norte Credit Union as Your Mortgage Lender

When looking for a financial partner on the path to home ownership, look no further than Del Norte Credit Union. We offer a range of mortgage options at competitive rates. Whether you’re a first-time home buyer, a veteran, or ready to refinance, a mortgage loan officer will work closely with you to choose the right financing option for your needs. We offer local lending experts, local processing, local underwriting and local servicing. We have branches in Española, White Rock, Los Alamos, Santa Fe and Northern New Mexico. Contact us to learn more about mortgage loans at DNCU or fill out an application online today!