- More Savings and Fewer Complications
Some lenders will sell off your mortgage as soon as it’s closed. However, that’s not likely to be the case with a Credit Union. Credit Unions typically prefer to hold and service your mortgage, if they are able. What does that mean for you? You likely already know the people who hold your loan, and they are easy to contact if you have questions.
Additionally, by keeping your loan in our portfolio, you are less likely to experience escrow complications or payment problems that result in late fees.
- Better Service
Credit Unions have members, not customers. Most Credit Unions live and breathe member service, and you can see from our members just how much they appreciate the knowledge and friendliness of the Team.
At a Credit Union, you’ll work with people like Mortgage Lending Director, Morgan, Mortgage Development Manager, Dianna, and Mortgage Loan Processor, Carly. Together, they have been a part of DECU for over 22 years, working in many different areas. Their experience and knowledge allow them to match the right real-estate product with your individual needs.
- Local Housing Market Knowledge
Downeast Credit Union is a local organization. Because we are located where you live, we understand local housing availability and constraints. Sitting down with our Mortgage Team is a more personal experience. Rather than just processing a loan, we can help you understand where you may face challenges in your local market and get you prepared for the process.
- Not-For-Profit Model Benefits You as a Member
Credit Unions are not-for-profit organizations, which means we reinvest all our earnings back into the organization. In the case of a Credit Union, most of the investment goes back to the members as higher dividends, lower fees and lower interest rates on loans. There are no shareholders earning millions of dollars on your dime – a lot of it goes back to you and other members.
The Mortgage Team at Downeast Credit Union has your back! We can offer guidance on what financial products are best for you. Let us show you the credit union difference. Get started and apply today with our mortgage form.