When you get a home loan from a Colorado Credit Union, they usually will attach the mortgage right on to your personal checking or savings account. This means you only have one login, making it easier to access and pay your mortgage every month. Secondly, some of them won’t sell your loan. Occasionally there will be a problem with the escrow account or the automatic withdrawal when transferring a mortgage to a new loan servicer. This can cause frustration on the consumer’s end as corrections are usually made after the fact and can temporarily raise the monthly payment. Lastly, Credit Unions are usually more friendly when it comes to late fees and the application of over payments. You will not have to wait on hold for very long time to reach a solution.
Colorado Lenders has partnered with many credit unions and we encourage customers to work with them to gain both knowledge and valuable products in the mortgage industry. Our mortgage resources are far more extensive and Colorado mortgage rates more competitive, but if we were to recommend a customer to another company to obtain a mortgage, it would definitely be a credit union.
With regard to a checking and savings account, a Colorado Credit Union is usually the way to go. They provide a truly free checking and savings account and will often attach a low-fee business account right on to your personal account. Transfer fees are often much lower. The best feature of all is the credit card. The interest rates are much lower than the average card and you can sometimes attach the credit card right onto your personal account. This will act as a line of credit in which you can draw money directly into your account for FREE!
Follow the link to some of our favorite Colorado Credit Unions!