8 Best Credit Union Mortgage Lenders of November 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.
- 40+ years of combined experience covering mortgages and financial topics.
- 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 November 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 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 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
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItThe relatively small Andrews Federal Credit Union offers some mighty advantages, like showing detailed, personalized interest rates without requiring contact info and making it easy to get out of paying an origination fee.
Pros
- Has a robust and user-friendly tool for customized mortgage rates.
- Easy to qualify for credit union membership.
- Offers HELOCs and home equity loans.
Cons
- Physical branches in the U.S. are limited to Maryland, New Jersey, Virginia and Washington, D.C.
- Does not offer less common mortgage types, like renovation or construction home loans.
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Why We Like ItAlliant Credit Union offers some harder-to-find mortgage types and lets you customize interest rates online, but navigating their customer service options can be tricky as a non-member.
Pros
- Mortgage borrowers do not need to become members of the credit union until they’ve reached the closing process, so interested home buyers can apply without committing to membership.
- Sample rates are displayed upfront, and it's easy to get detailed, personalized rates without providing any personally identifying information.
- No application fee.
Cons
- Customer service can be difficult to access as a non-member and may require sharing personal information.
- Home equity loans are not available.
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Bethpage Federal Credit Union: NMLS#449104
4.0
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItBethpage Federal Credit Union offers some specialty loans, like financing for co-ops and nonwarrantable condos, and a fully online application, but no online preapproval.
Pros
- Specialty loans include financing for co-ops and nonwarrantable condos.
- Offers conventional loans for manufactured homes.
- Highly rated mobile app.
Cons
- Interest rates are on the high side, according to the latest federal data.
- Doesn’t offer renovation, construction or USDA loans.
- Can’t get a preapproval online.
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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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Golden 1 Credit Union: NMLS#669333
4.0
Home loans overall
NerdWallet ratingMin. credit score
N/A
Min. down payment
3%
Why We Like ItGolden 1, a California-based credit union, specializes in down payment and closing cost assistance in the Golden State, where its experience with jumbo loans will be a plus for buyers navigating the state’s high home prices.
Pros
- Experienced with first-time home buyer assistance programs in California.
- Closing cost discount when you buy through a preferred real estate agent network.
- Interest rate discounts available to account holders.
Cons
- Membership is mostly limited to California residents.
- Can’t customize rates online.
- No VA or USDA loans.
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Navy Federal: NMLS#399807
5.0
Home loans overall
NerdWallet ratingNational / regional
National
Min. down payment
0%
Why We Like ItNavy Federal is known for VA lending, but it's the flexible VA-like loan options that truly stand out. While you don't have to be a current or former servicemember to take advantage of them, you will need a military connection to join the credit union.
Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
Cons
- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
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State Employees' Credit Union: NMLS#430055
5.0
Home loans overall
NerdWallet ratingMin. credit score
N/A
Min. down payment
0%
Why We Like ItState Employee's Credit Union in North Carolina has some of the lowest average mortgage rates of lenders we review, as well as generous grants and specialty loans for first time home buyers who meet its membership criteria.
Pros
- Offers a no-down-payment mortgage without private mortgage insurance.
- Participates in multiple first-time buyer assistance programs.
- Very low average mortgage rates, according to the latest federal data.
Cons
- Credit union membership eligibility is limited.
- Loans only available in five states.
- Doesn’t offer government-backed mortgages.
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Why We Like ItPenFed Credit Union boasts lower-than-average rates, but loan offerings don't go beyond the basics and there are a few hoops to jump through.
Pros
- Offers fully-underwritten preapproval with the option of a 60-day rate lock.
- Average mortgage rates are low compared with other lenders, according to the latest data.
- Originates significantly more VA loans than the average lender.
Cons
- Getting customized mortgage rates requires providing contact information.
- Does not offer harder-to-find mortgages, such as construction, ITIN or USDA loans.
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 November 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
