Let's talk mortgages (refi content)...

[TEA Time]

1) Do any of you have a mortgage through a credit union? We want to refi and my wife thinks we'll get the best rate through one. While I'm finding that to be not necessarily true, I like the thought of having a local lender as opposed to some huge bank full of dicks.

2) For those of you that do have a mtg through a credit union, was it easy to do? Seems like everyone would do it if that were the case.

I've done several car loans through my credit union and love them for that kind of stuff. Unfortunately they're in Kansas (through my company) and don't do mortgages so I'd have to join a local one.

Thoughts?

 

[azgreg]

It doesn't matter who you get your mortgage through. They will sell it right away to a large lender.

 

[TEA Time]

It doesn't matter who you get your mortgage through. They will sell it right away to a large lender.

I don't think credit unions do that.

 

[eclark53520]

I don't do credit unions.

Never been something I figured I needed...maybe I should look into it?

 

[azgreg]

I don't think credit unions do that.

Some do and some don't.

 

[TEA Time]

I don't do credit unions.

Never been something I figured I needed...maybe I should look into it?

I don't know about their checking/savings plans, but for loans, definitely. I've gotten car loans for 2.9% and personal (no collateral) loans for 12%.

 

[azgreg]

Been with a credit union for decades. Wouldn't bank any other way.

 

[subsonic]

I used Navy Federal. 2.25% 15 year fixed. Easy to work with.

They do sell the loan but they service it, so there is nothing that you notice. They have all my business.

FVCK banks. There is a reason Jesus threw them out of the Temple. Credit Union FTMFW.

 

[TEA Time]

Someone suggested the Rocket Mortgage thing. Super easy, super fast, closing costs: $11,000.

Went through Bankrate, found a loan similar to the credit union's, closing costs: $900.

Will check the credit union, but if they're gonna sell it (maybe) what's the point?

 

[subsonic]

I like the great rate and customer service. Yeah they sold the loan, but they still service it.

 

[eclark53520]

I don't know about their checking/savings plans, but for loans, definitely. I've gotten car loans for 2.9% and personal (no collateral) loans for 12%.

Shit, I haven't bought a car over 0% in the last 10 years...

 

[MCDavis]

Get a quote from your credit union and a mortgage company (not a bank). Google OVM, for example. MC will beat the CU, which saves you money.

It's irrelevant if they sell your mortgage.

This is what I did, what I had my parents do, and what I tell my real estate clients. No one has ever been unhappy with this advice.

 

[eclark53520]

Get a quote from your credit union and a mortgage company (not a bank). Google OVM, for example. MC will beat the CU, which saves you money.

It's irrelevant if they sell your mortgage.

This is what I did, what I had my parents do, and what I tell my real estate clients. No one has ever been unhappy with this advice.

Only results I got for OVM-
Oracle Virtual Machines
Open Verification Methodology
One Voice Ministry
and something that gives your skin more volume...

Did you miss type something?

 

[Rockford35]

I would run with a CU, if they didn't employ the biggest group of idiots this side of MCDavis.

I have never worked with a bigger bunch of morons as I did when closing my father's estate after his passing in 2009. Absolutely simple, straight forward work. They don't use computers, everything is still done on paper. Not shocking that I had to do paperwork twice when dealing with them. And it's not a "come in and sign", it's a "come in and sign, then wait for us to mail out your forms, then come back in and sign again."

I am shocked many of them aren't eating their own arms they are so stupid.

I wouldn't bank with a CU (well, this one, anyways) if the loan rate was 0%. Not worth the hassle.

R35

 

[TEA Time]

biggest group of idiots this side of MCDavis.