Rant: I tried a local credit union for my mortgage and it blew my big bank out of the water

I got a mortgage quote from my big national bank first, and the rate was 6.8% with a ton of fees. On a whim, I walked into a local credit union here in Boise and they offered me 6.2% with half the closing costs. The loan officer sat with me for an hour and explained every single line item, something the big bank rep just emailed me a PDF about. It wasn't even close. Has anyone else found that smaller places just try harder with big loans?

3 comments

3 Comments

victor77910d ago

So what finally pushed you to even check the credit union? Just got fed up with the big bank fees, or was there something else?

viola_allen10d ago

Oh man, that doesn't surprise me at all. My big bank still charges me a fee if I use a teller instead of the ATM, like I'm bothering them by existing. It feels like they're just running a numbers game, you know? Meanwhile the credit union people actually have to look you in the eye around town, so they have to be decent. I should probably move my own stuff, but I'm too lazy to deal with the paperwork. Classic.

rose_reed10d ago

Guess they need the big fees for their fancy skyscrapers.