8 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, FHA and jumbo loan borrowers, as well as those who seek a regional lender.
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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 VA, FHA and jumbo loans, and as local lenders for borrowers in certain regions.
Best Credit Union Mortgage Lenders
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4.0 /5 | 5% | Regional | ||
 Bethpage Federal Credit Union: NMLS#449104 Top 3 most visited 🏆 Learn moreat Bethpage Federal Credit Unionat Bethpage Federal Credit Union | 4.0 /5 | 3% | National | Top 3 most visited 🏆 Learn moreat Bethpage Federal Credit Unionat Bethpage Federal Credit Union |
4.0 /5 | 3% | National | ||
4.0 /5 | 3% | Regional | ||
4.5 /5 | 0% | National |
San Diego County Credit Union: NMLS#580585
5%
Regional
- 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.
- Interest rates are notably low, according to the latest federal data.
- No FHA, VA or USDA mortgages.
- Loans are available in California only.
- Mobile app has low ratings.
Bethpage Federal Credit Union: NMLS#449104
620
3%
- Has a fully online mortgage application and a highly rated mobile app.
- Offers financing for co-ops, a type of home that’s common on the East Coast.
- Interest rates are on the low side, according to the latest federal data.
- In-person service available only on Long Island, New York.
- Doesn’t offer renovation, construction-to-permanent or USDA loans.
- Customized rates not available online.
- Borrowers can apply entirely online. The lender is also very transparent about what borrowers can expect from the process, including nontraditional customers.
- Borrowers do not need to become members of the credit union until they’ve reached the closing process, meaning that interested home buyers can apply and get rate offers without committing to membership.
- Offers customized rate quotes, including a detailed breakdown of estimated closing costs.
- Does not offer VA, FHA or USDA loans.
- Membership is contingent on belonging to or joining a partner organization, or living in an eligible Chicago-area community.
- Has a preferred real estate agent program that can save a borrower money on closing costs.
- Offers some flexibility on guidelines for loan qualification.
- Customized sample rates are available online without contacting the lender.
- Does not offer VA or USDA loans.
- Products mostly available only to California residents.
- Doesn’t offer home equity loans, only HELOCs.
- Offers unique loan options aimed at military borrowers, such as a proprietary loan called Military Choice that works as an alternative to VA loans.
- 24/7 customer service supports borrowers stationed overseas.
- Offers home equity loans and lines of credit.
- Borrowers must join the credit union before applying for a mortgage.
- The lender does not offer renovation or construction loans.
- When we tried their customer service line, we sometimes waited longer than 10 minutes before being connected with a representative who could answer our questions.
State Employees' Credit Union: NMLS#430055
N/A
0%
- 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.
- 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.
Andrews Federal Credit Union: NMLS#410421
620
3%
- Caters to first-time home buyers with incentives and education.
- Provides extra support for military borrowers, including branches near bases in Germany, Belgium and the Netherlands.
- Offers HELOCs and home equity loans at competitive interest rates.
- Physical branches in the U.S. are limited to Maryland, New Jersey, Virginia and Washington, D.C.
- Does not offer renovation or construction home loans.
- Offers a broad selection of home loan products, including low-down-payment options for first-time home buyers and HELOCs.
- Offers a lender credit, based on loan amount, for purchase mortgages.
- Mortgage rates and fees are low compared with other lenders, according to the latest data.
- Does not publish sample mortgage rates on its website.
- The lender credit isn't available for refinance mortgages.
More from NerdWallet
Last updated on November 3, 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 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 2022 HMDA data for origination volume, origination fee, average interest rate and share-of-product data.
NerdWallet's Best Credit Union Mortgage Lenders of 2023
- San Diego County Credit Union: Best for Southern California borrowers
- Bethpage Federal Credit Union: Best for FHA loans
- Alliant: Best for jumbo loans
- Golden 1 Credit Union: Best for California borrowers
- Navy Federal: Best for VA loans
- State Employees' Credit Union: Best for North Carolina borrowers
- Andrews Federal Credit Union: Best for credit union lending
- PenFed: Best for VA loans
