8 Best Credit Union Mortgage Lenders of September 2024
Last updated on July 1, 2024
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Credit unions can excel at financial education and customer service while offering competitive mortgage rates, making them a good place to shop for a mortgage. These credit unions rise to the top for VA, FHA and jumbo loans, and as local lenders for borrowers in certain regions.
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- 50+ mortgage lenders reviewed and rated by our team of experts.
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- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
8 Best Credit Union Mortgage Lenders of September 2024
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
 Andrews Federal Credit Union: NMLS#410421 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Alliant: NMLS#197185 LEARN MORE on NerdWallet | N/A | 3% | LEARN MORE on NerdWallet | |
 Bethpage Federal Credit Union: NMLS#449104 Top 3 most visited 🏆 Learn more at Bethpage Federal Credit Union | 620 | 3% | Top 3 most visited 🏆 Learn more at Bethpage Federal Credit Union | |
 San Diego County Credit Union: NMLS#580585 LEARN MORE on NerdWallet | N/A | N/A | LEARN MORE on NerdWallet | |
 Golden 1 Credit Union: NMLS#669333 LEARN MORE on NerdWallet | N/A | 3% | LEARN MORE on NerdWallet |
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Andrews Federal Credit Union: NMLS#410421
5.0
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItFirst-time home buyers and military borrowers in the Mid-Atlantic looking for a lender with deep roots in their local communities.
Pros
- 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.
Cons
- 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.
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on NerdWallet
Why We Like ItGood for: eligible borrowers who are open to joining a credit union and want a mortgage from an online lender.
Pros
- 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.
Cons
- Doesn’t offer renovation loans.
- Joining the credit union adds a step to the application process.
Learn more
at Bethpage Federal Credit Union
Bethpage Federal Credit Union: NMLS#449104
4.0
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItGood for: borrowers seeking a solid selection of mortgages, low rates and the community-minded business model of a credit union.
Pros
- 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.
Cons
- 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.
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on NerdWallet
San Diego County Credit Union: NMLS#580585
4.0
Home loans overall
NerdWallet ratingMin. down payment
N/A
National / regional
Regional
Why We Like ItGood for: Californians who are looking for a conventional or jumbo mortgage and 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.
- Interest rates are notably low, according to the latest federal data.
Cons
- No FHA, VA or USDA mortgages.
- Loans are available in California only.
- Mobile app has low ratings.
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on NerdWallet
Golden 1 Credit Union: NMLS#669333
4.0
Home loans overall
NerdWallet ratingMin. credit score
N/A
Min. down payment
3%
Why We Like ItGood for: California residents who want to work with a credit union that offers a variety of fixed- and adjustable-rate mortgages, including jumbo loans and home equity lines of credit.
Pros
- 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.
Cons
- Does not offer VA or USDA loans.
- Products mostly available only to California residents.
- Doesn’t offer home equity loans, only HELOCs.
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on NerdWallet
Navy Federal: NMLS#399807
4.5
Home loans overall
NerdWallet ratingNational / regional
National
Min. down payment
0%
Why We Like ItGood for: Military borrowers who’ve exhausted their VA loan benefits and qualified government employees who want to compare mortgage options without down payments.
Pros
- 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.
Cons
- 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.
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on NerdWallet
State Employees' Credit Union: NMLS#430055
4.0
Home loans overall
NerdWallet ratingMin. credit score
N/A
Min. down payment
0%
Why We Like ItGood 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.
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on NerdWallet
Why We Like ItGood for: borrowers looking for online convenience, a wide selection of mortgages and the competitive rates of a member-owned credit union.
Pros
- 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.
Cons
- Does not publish sample mortgage rates on its website.
- The lender credit isn't available for refinance mortgages.
More from NerdWallet
Last updated on July 1, 2024
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 September 2024
- Andrews Federal Credit Union: Best for credit union lending
- Alliant: Best for jumbo loans
- Bethpage Federal Credit Union: Best for FHA loans
- San Diego County Credit Union: Best for Southern California borrowers
- Golden 1 Credit Union: Best for California borrowers
- Navy Federal: Best for VA loans
- State Employees' Credit Union: Best for North Carolina borrowers
- PenFed: Best for VA loans
