Editorial Review

Golden 1 Credit Union Mortgage Review 2019

Ideal for California residents who want to work with a homegrown credit union that offers a variety of fixed and adjustable-rate mortgages.

Beth BuczynskiJune 27, 2019

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Our Take


NerdWallet rating 

The Bottom Line: Golden 1 offers a cost-saving Realtor program, plus a range of loan types, including jumbos.

Golden 1 Credit Union

Golden 1 Credit Union

Min. Credit Score


Min. Down Payment


Loan Types and Products

Purchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA

Pros & Cons

  • Has a wide range of purchase and refinance loans, including FHA.

  • Offers jumbo loans up to $2 million.

  • Preferred Realtor program saves on commissions.

  • Considers alternative credit data.

  • Charges $850 origination fee.

  • Does not offer VA or USDA loans.

Compare to Other Lenders

Quicken Loans
Min. Credit Score


Min. Credit Score


Min. Down Payment


Min. Down Payment


Loan Types and Products

Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA

Loan Types and Products

Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA

Full Review

Founded in 1933 and headquartered in Sacramento, Golden 1 Credit Union is a homegrown California lender offering mortgage products to borrowers throughout the state.

As a not-for-profit financial cooperative, Golden 1 is owned by its members, not shareholders. This allows the credit union to offer benefits like free checking and lower interest rates, says Michael Popp, vice president of home loans at Golden 1 Credit Union.

Though it operates only in California, Golden 1 is hardly a small-time lender. With almost a million members and plans to fund over $800 million of mortgages in a single year, it’s one of the largest credit unions in the nation.

Here’s a closer look at the home loans and mortgage services Golden 1 Credit Union offers.

Golden 1 Credit Union mortgage products

Golden 1 Credit Union has a full menu of purchase and refinance mortgages, including 15- or 30-year fixed-rate loans and 5-, 7-, or 10-year adjustable-rate mortgages.

The credit union also offers jumbo loans up to $2 million, home equity loans and home equity lines of credit. Golden 1 recently added FHA loans to its lineup. It doesn’t offer VA or USDA loans at this time.

Golden 1 Credit Union mortgage rates and fees

Current rates and fees for Golden 1 home loans are available on its Mortgage Center Home page. Click “Personalized Quote” and answer a few questions to see APR, discount points, closing fees and estimated monthly payment for the mortgages that match your needs.

Click “view” to see more details on any quote result, like a breakdown of Golden 1 Credit Union’s origination charges — a flat $475 for processing and $375 for underwriting — and discount point prices.

You also can expand the view to see fee descriptions and information on fees for third-party services like appraisal, credit report, flood certification and tax service, making it easy to estimate total costs. Additional tabs display tax estimates and disclosures.

How the Golden 1 mortgage process works

Most Golden 1 borrowers begin the mortgage process by meeting with a home loan advisor or calling a local branch, though around 30% start online, Popp says.

The online application form asks about your finances, employment and the property you want to buy. According to Golden 1, it should take less than 20 minutes to apply online. After submission, you’ll find out if you’re pre-qualified, and a home loan advisor will call you to answer questions and explain the benefits of taking the next step: preapproval.

Popp says the credit union will follow up even if you aren’t immediately pre-qualified to identify potential errors and offer solutions. Borrowers who have limited or no credit history can submit proof of rent, utility or other recurring payments to bolster their applications, for example.

Golden 1 aims to be “the credit union for everybody” and doesn’t want to “put good people into a bad situation,” so its loan officers make sure borrowers can handle a mortgage without stretching their finances too thin, Popp says.

Golden 1 discount programs for home buyers

Managed in-house, the Buyer Advantage program credits members 25% of the Realtor commission toward closing costs when they work with a Golden 1 Preferred Realtor. The Golden 1 insurance division connects members to insurers willing to offer discounts on several types of policies, including homeowners insurance.

Neither program requires you to choose a Golden 1 mortgage, Popp says; they’re benefits of credit union membership.

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.