USC Credit Union Blog

USC Credit Union Blog

Is A Credit Union Mortgage Right For You?

Posted by Pierce Conway on Sep 22, 2016 1:00:00 PM

There are many pros to getting a mortgage through a credit union — if you qualify.

 

Credit unions have historically offered lower mortgage ratesand closing costs than traditional lenders. Anyone searching for a mortgage to buy a home for sale in Los Angeles, or anywhere across the U.S. can’t turn down that deal. But credit unions also tend to be more conservative in their lending practices, meaning that you might need to jump through more hoops — and have an excellent credit history — to qualify for a loan through one.

Take these pros and cons of a credit union mortgage into consideration when you’re shopping around for a loan — you may find that these loans are the right ones for your home purchase.

 
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How to Qualify for a Home Loan

Posted by Cal on Nov 14, 2014 3:46:52 PM

 

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Mortgage Rates Drop to 16-Month Low

Posted by Cal on Oct 20, 2014 9:37:00 AM

The interest rate for a 30-year, fixed-rate mortgage continued its decline last week, falling further below 4% last week and also falling to a 16-month low, according to a new report from Zillow (Z). 

Current rate borrowers were quoted an average interest rate of 3.81% on Zillow’s Mortgage Marketplace in the week that ended Tuesday, down from 3.96% in the previous week.

According to Zillow’s report, the 30-year fixed mortgage rate fell last Wednesday, and then hovered around 3.88% for most of the week before falling to the current rate.

“Rates dropped to the lowest level since June 2013 on news that the Federal Reserve has more reservations about the health of the U.S. and global economy than expected, which in turn, may delay rate hikes,” said Erin Lantz, vice president of mortgages at Zillow.

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Tips to Qualify for Your Home Loan

Posted by Alexa on Jul 7, 2014 10:21:00 AM


1. Keep good records of your finances, including bank statements, tax returns, W-2s, investment accounts and any other assets you own. 

2. Don’t make large purchases with a credit card or loan before applying for and closing on your home loan—it may affect your loan approval.

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