Credit Union home Mortgage

Dillon Credit Union Home

A credit union is a financial institution that is very similar to a bank. You can open up a checking account, a savings account, get loans, CDs, and more. When you start to look for your first home, you need to start by seeking a Superior Federal Credit Union mortgage. You can sit down and review your credit report, monthly income, and savings to determine how much you can be pre-approved for when you go out to purchase a home. As you determine which financial institution to speak to about getting your home loan, you should consider a credit union for the many advantages that it can offer you, especially that it is a non-profit institution, the requirements to join, and the fact that it is focused on its members.

Non-Profit Institution

Unlike banks, these institutions are not seeking to make a profit. They are considered not-for-profit organizations. This is advantageous to you, since they can offer higher interest rates on your savings accounts allowing you to make more money every year on the money that you have in your accounts. This interest tends to be 4-10 times as much as a bank. It also means that they can offer lower rates on loans and credit. As you go to purchase your home, you’re going to want lower rates to save you as much money as possible. This will help you get more equity in your home faster, and it will allow you to pay off the loan faster, too.

Requirements to Join

There are several credit unions available to use, but you need to find one that fits you. The requirements to join each one varies depending on the objective of the institution. It could open the eligibility to employees for a particular company, people living in a particular area, or members of the military. Once you’ve joined, you may be required to pay a membership deposit initially. This makes you a part owner of the company with a voice in decisions that could affect the company. By needing to meet requirements to join, you get a higher level of service than other similar institutions.

The credit union movement: Origins and development, 1850-1980
Book (Kendall/Hunt Pub. Co)

So chase mortgage foreclosed on our home we had

2013-04-14 10:41:21 by fish6535

With chase mortgage plus an equity loan with a credit union
Chase foreclosed, we are still paying the equity loan with the credit union waiting to hear how they are going to handle the equity loan, sale at courthouse not sold to anyone, so wells Fargo keeps it in their reo?
Should we continue to pay the equity loan to keep in good standing with the credit union? We also continue to pay all other debt we have including our home in the city we moved into that still has a high interest rate but with foreclosure we won't get approved to refi right?
Credit score under 600 now

I recently joined a local credit union.

2012-12-24 00:03:19 by Jekyll_Island_Club

Nicest money people I've ever dealt with.
I have to establish a fico score in order to be considered for a home loan. Since I have no mortgage, car loan or credit cards, there is no fico score on my record. It comes back: "Not enough information to establish a score."
So I opened a secured credit card with them rather than the den of thieves I've somehow eluded over the years. They report it as a regular credit card.
They will also get first dibs on a home loan when I'm ready. When I asked about their mortgage program I was pleasantly surprised to find out that they underwrite their own loans, don't sell the mortgages to anyone and of course don’t securitize them in the derivatives market

My Tax Documents Went Home with Someone Else

2008-04-13 13:58:48 by karmasun

Yesterday I went in to sign my tax return to find out that my original tax documents, (W2, Mortgage info., credit union info, etc) were all sent home with someone else.
While I doubt the person who has my documents has even looked at them, it's still a huge breach of my privacy, and probably enough info. for someone to steal my identity.
I plan to talk to a lawyer tomorrow and document what's happened. imgagine I could sue them, but would rather just settle this without a lot of drama. But the big question is - what's the magic number? My sister works for a bank and feels that it should be a low six figures with the company at fault also paying for whatever measures are necessary to correct/protect the breach. Any thoughts?

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Dallas cyber-crime maestro's luck runs out  — Dallas Morning News
In his 2007 heyday, this Nigerian-American scammer was stealing more than $7 million a week from home equity lines of credit. In all, the FBI estimates he took between $80 .. of money, the U.S. housing boom was in full swing.

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