Credit Union Mortgage Rates – Compare Navy Federal, UW, Landmark, Coastal, Bethpage, Harvard and Kitsap Credit Union Rates

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The Credit Union Mortgage Rate Versus The Bank Rate

Most people have had transactions with banks than with credit unions. You may have loyally been maintaining a savings account or two in, or may have secured a mortgage for your home from your favorite bank. However, did it not cross your mind to open an account, take or refinance a loan from your local credit union, such as Meridian, Langley, Summit, or Wright-Patt? “Why should you?”, you might ask. An understanding of what a credit union is and finding out what how reasonable credit union mortgage rates are will help you to appreciate them.

As a cooperative financial organization, a credit union is owned and governed by its members and is run to promote thrift, to make credit at fair rates, and to furnish other financial services to its members. An additional mission of many credit unions is to advance the development of their community or to sustain international development on a local level. They are often smaller than banks, but the interest of their members are foremost to them. In contrast, banks, primarily having commercial pursuits, have vested interest in your financial growth. Savings interest rates are typically higher, while mortgage rates are lower in credit unions than banks.

There are plenty of credit unions accross the country to cater to certain communities. Redstone in Alabama, Tower Federal in Maryland, Crescent in Massachussets, Kohler in Washington County, Tech in Illinois and Indiana. In Australia, one of the largest credit unions is Teachers Credit Union.

Some people think that investing one’s money in credit unions is risky. This is not accurate anymore since they are now required to legally be federally insured, just like banks. Having settled that, let us now take a look at mortgage rates of some credit unions. If you are looking for a loan to purchase or refinance a home, you may find some of the best rates here.

Navy Federal Credit Union Mortgage Rates

This credit union is for the community of the naval force, the members of the Department of Defense, the US Army, Marine Corps and the Airforce. It offers 4 types of mortgage rates: Fixed, VA and FHA, Adjsutable Rate and Balloon and 100% Financing. The rates range between 2 to 5.875 percent depending on the number of years and the type of mortgage. Those in active duty can also avail of their special rates.

UW Credit Union Mortgage Rates

The University of Wisconsin also has its own credit union to cater to its employees, past and present students, the past and present employees and students of Madison College, past and present UW health employees, anyone living, working, or attending school within five miles of any of their credit union branch, and the immediate family of those previously mentioned. It offers a combination of mortgage rates from the 30-year Fixed Rate to the 5-year ARM. For a computation of a possible rate for you, visit their site where you can get a quick quote specific to your details.

Pentagon Federal Credit Union Mortgage Rates

The fixed rates offered by Pentagon span 10 to 30 years. It also offers ARM mortgages that can either be a Jumbo or Conforming Loan. Rates range between 2.5 to 5 percent but may change on a day to day basis. It also has a separate set of mortgage rates for VA Fixed, Jumbo Conforming Mortgage Loans.

Landmark Credit Union Mortgage Rates

The Fixed Rate Mortgage loans of Landmark include a 10, 15, 20 and 30-year loan. It also offers special programs for first time buyers. Its ARM loans range between 1.9 to 3.9 percent with durations of one to five years. This credit union also offers specific ARM loans for construction and for lot acquisition.

Coastal Federal Credit Union Mortgage Rates

The mortgage rates of Coastal includes the conventional fixed rates for 15, 20, and 30 years; Adjustable mortgages rates for 5 and 7 years; a 100% LTV Fixed Rate for First Home Loan; and a Jumbo loan rate for loans greater than $417,000.

Bethpage Federal Credit Union Mortgage Rates

Mortgage rates offered by Bethpage are available for all states except Texas. These include Adjustable, Fixed, a Jumbo Fixed and FHA rate. This could cover 10 or 30 years.

Harvard Credit Union Mortgage Rates

The fixed rates offered by Harvard include the conventional 10-year, 15-year, and 30-year mortgages. They also provide a 30-year fixed mortgage  or adjustable rates for first time home buyers. Adjustable rates range between 4 to 4.75 percent.

Kitsap Credit Union Mortgage Rates

The home loans Kitsap offers include Fixed Rate Home Equity Loan, Real Estate Loans, Energy Efficiency Loans, Home Construction Loans, Manufactured Home Loans, and Mobile Home Loans. Their Manufactured Home Loans cater to clients who want to purchase or refinance a home. They can provide as much as 80% LTV for purchases and 65% LTV for refinancing.

Do not get too excited seeing these competitive credit union mortgage rates. Take time to verify them first with the specific credit union as the figures can change depending on the terms and on your specific details.