Many hopeful homeowners spend weeks hunting for the perfect house, weighing options for the future and comparing prices. However, when it’s time to apply for a mortgage, many of those careful house hunters just go to their regular bank or take the first offer they receive. Taking out a mortgage means establishing a long-term relationship with a lender, which is why more and more people are choosing to go with credit unions rather than big banks.

3 Reasons to Get a Mortgage From a Credit Union

1. Lower Fees

Unlike banks and other commercial lenders, credit unions are not-for-profit, so they’re more focused on passing savings back to their members. Because they don’t see mortgage borrowers as profit centers, credit unions will genuinely try to give you the lowest fees possible. Over the life of the loan, this could save you thousands of dollars.

2. More Stability

Bank mergers are increasingly common, which means it’s impossible to tell who will be servicing your mortgage in five or 10 years. Credit unions, on the other hand, are remarkably stable, so you can be fairly sure that you’ll have the same servicer from your first payment to the last.

3. More Flexibility for Those With Imperfect Credit

Because they don’t have shareholders who are expecting to make a profit, credit unions are more willing to work with borrowers whose credit might be less-than-perfect. In fact, many credit unions offer programs targeted for first-time home buyers who might be able to get a mortgage through traditional lenders.

Whether you’re applying for a mortgage or looking for a financial institution you can depend on, Spirit of America Federal Credit Union in Lincoln, NE, will help you achieve your goals. As a member-owned credit union, they pride themselves on offering low-cost financial solutions and a broad array of services to people from all walks of life. To make an appointment with a loan officer, visit their website or call (402) 467-1102. You can also follow them on Facebook for more finance tips and advice.