Credit Union Mortgage Interest Rates Generally Lower

There are many benefits to belonging to a credit union. The most profitable for credit union members is getting a lower mortgage rate than they normally would from lenders or banks. Current mortgage rates are very low in general but credit union mortgage rates are even lower.

Today's mortgage rates on 30 year conforming loans are averaging 3.54 percent. Depending on the state you live in you'll find average 30 year mortgage rates above the national average or below the national average. One of the biggest credit unions, Navy Federal Credit Union, is offering extremely low mortgage rates today.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 95816, 2, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.291%
4.125%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
10/23/2019
at 2.000 pts
45 day lock rate
Est payment: $1,454
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
4.039%
3.875%
USD
Rocket Mortgage Logo
NMLS # 3030
10/23/2019
at 2.000 pts
45 day lock rate
Est payment: $1,411
Fees in APR: $6,000
From the lender: We can close your loan in less than a month!
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.291%
4.125%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
10/23/2019
at 2.000 pts
45 day lock rate
Est payment: $1,454
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
4.039%
3.875%
USD
Rocket Mortgage Logo
NMLS # 3030
10/23/2019
at 2.000 pts
45 day lock rate
Est payment: $1,411
Fees in APR: $6,000
From the lender: We can close your loan in less than a month!
 

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.






Navy Federal Credit Union mortgage rates on 30 year loans are currently advertised as low as 3.375 percent with 0.75 mortgage points. Another large credit union Pentagon Federal Credit Union (PenFed) is advertising 30 year mortgage rates at 3.50 percent with zero points, 3.375 percent with 0.375 points and 3.25 percent with 1.50 points.

Super conforming mortgage rates which are for loans in higher cost areas of the country that still conform to the governments standard on the dollar amount of the loan are currently advertised at 3.50 percent with 0.75 points at Navy Federal.

Current mortgage rates today on 15 year conforming loans are averaging 2.91 percent. Both Navy Federal and PenFed are both offering 15 year conforming mortgage rates below the average of 2.91 percent. Navy Federal has 15 year conforming mortgage interest rates at 2.75 percent with 1.25 points. PenFed has 15 year conforming mortgage rates at 2.625 percent with zero points, 2.50 percent with 0.875 points and 2.375 percent with 2.00 points.

Mortgage interest rates for 30 year jumbo loans are averaging 4.18 percent at the national level. Right now PenFed is offering 30 year jumbo mortgage rates today at 3.625 percent with 0.75 points. There are also many local credit unions that offer 30 year jumbo refinance rates below the averages.

You can work with a local credit union and compare the rates they are offering with one of the big credit unions like the two we mention above. You can also compare credit union refinance rates with bank refinance rates and what rates a mortgage broker might quote you. The best way to save money is to shop around for the lowest interest rate.
 
 
Author: Robert Till
September 12th, 2012