BEST OF

6 Best Credit Union Mortgage Lenders of 2023

Credit union mortgages may come with advantages such as lower fees and interest rates. Here are some of the best credit unions for VA and FHA loan borrowers, first-time home buyers and those wanting to apply for a mortgage online.

By Phil Metzger 

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You may have heard good things about credit union mortgages. Credit unions are member-owned nonprofit organizations that use their profits to reduce costs and fees, and to offer higher savings rates.

Credit unions can excel at financial education and customer service with local branches, making them a good place to shop for a mortgage. And credit union mortgage rates may be more competitive than rates from banks or other lenders.

These credit unions rise to the top of the heap for first-time home buyers, VA and FHA loans, digital convenience and other factors.

Best Credit Union Mortgage Lenders

Bethpage Federal Credit Union
Learn more

at Bethpage Federal Credit Union

Bethpage Federal Credit Union: NMLS#449104

4.5

NerdWallet rating 
Bethpage Federal Credit Union

Min. credit score

620

Min. down payment

3%
Learn more

at Bethpage Federal Credit Union


Why we like it

Bethpage has a good selection of loan options but no USDA mortgages or renovation loans. And while it offers multiple online conveniences, you have to contact the lender for customized rates.

Pros

  • Offers a full array of online conveniences, including loan process updates.

  • Offers financing for cooperatives, a type of home that’s common on the East Coast.

  • Sample mortgage rates available for a variety of loan products.

Cons

  • In-person service available only in Queens and on Long Island, New York.

  • USDA loans are not available.

  • Customized rates not available online.

Read Full Review

State Employees' Credit Union: NMLS#430055

4.5

NerdWallet rating 
State Employees' Credit Union

Min. credit score

N/A

Min. down payment

0%

Why we like it

Good for: North Carolina government employees and other eligible borrowers interested in conventional loans with low down payment options.

Pros

  • No private mortgage insurance required, even with a down payment less than 20%.

  • 100% percent financing available.

  • Participates in mortgage credit certificate and down payment assistance programs.

Cons

  • Does not have government-backed loan options.

  • Membership eligibility is limited, and loans are available only for properties located in Georgia, North Carolina, South Carolina, Tennessee and Virginia.

Read Full Review

Alliant: NMLS#197185

4.5

NerdWallet rating 
Alliant

National / regional

National

Min. down payment

3%

Why we like it

Good for: first-time home buyers who want to avoid mortgage insurance and prefer a digital application process.

Pros

  • Low- or no-down-payment options with no mortgage insurance.

  • Offers a home equity line of credit, or HELOC.

  • Mortgages are available for non-warrantable condominiums.

Cons

  • Doesn't offer government-backed mortgages, like FHA or VA loans.

  • Mortgage origination fees are on the high side, according to the latest federal data.

Read Full Review

Golden 1 Credit Union: NMLS#669333

4.5

NerdWallet rating 
Golden 1 Credit Union

Min. credit score

620

Min. down payment

3%

Why we like it

Golden 1 offers a cost-saving real estate agent program, plus a range of loan types, including jumbos.

Pros

  • Offers a variety of purchase and refinance loans, including jumbo mortgages.

  • Has a preferred real estate agent program that can save a borrower money on closing costs.

  • Offers some flexibility on guidelines for loan qualification.

Cons

  • Does not offer VA or USDA loans.

  • Products available only to California residents.

Read Full Review

Navy Federal: NMLS#399807

4.5

NerdWallet rating 
Navy Federal

National / regional

National

Min. down payment

0%

Why we like it

Good for: military members and their families looking for low-down-payment mortgages.

Pros

  • Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members.

  • Offers HELOCs and home equity loans.

  • Offers low rates compared with most lenders, according to the latest federal data.

Cons

  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.

  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

Read Full Review

San Diego County Credit Union: NMLS#580585

5.0

NerdWallet rating 
San Diego County Credit Union

Min. down payment

5%

National / regional

Regional

Why we like it

Good for: Californians who are looking for a conventional or jumbo mortgage and who want to shop rates online.

Pros

  • Offers purchase, refinance and jumbo mortgages, plus loans for second homes and home equity products.

  • Provides customized rate and fee quotes without requiring contact information.

Cons

  • No FHA, VA or USDA mortgages.

  • Loans are available only in California.

Read Full Review

Last updated on January 13, 2023

Methodology

The star ratings on this page reflect each lender's overall star ratings. Read more about how we determine those ratings.

The lenders on this page are chosen using this methodology:

NerdWallet reviewed more than 50 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country.

For inclusion on this roundup, credit union lenders must score a 4.5 or above according to our overall methodology.

NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2021 HMDA data for origination volume, origination fee, average interest rate and share-of-product data.

To recap our selections...

NerdWallet's Best Credit Union Mortgage Lenders of 2023