Getting jumbo mortgage through credit union?
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Anonymous
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DH and I qualify for mortgages through several different credit unions (one is for military, which we are not, but we apparently qualify b/c he's a physician; the second is for federal employees). The credit unions seem to be offering the lowest rates for jumbo mortgages. Is there any disadvantage in working with a credit union vs. a different financial provider?
The house is $2 million, and we are putting 20% down. We have decent assets, etc. |
Anonymous
| No disadvantage, and I too have found the CUs to be really competitive on jumbo these days. The one way to do even better is to get a quote from a CU and get a big bank to match it and then apply a relationship discount on top. |
Anonymous
| What is a relationship discount? |
Anonymous
| What are they quoting you? |
Anonymous
| Relationship discount: Big banks will give you a break on mortgage rates based on assets you park with them. |