Wells vs. Credit Union for Mortgage (loan officer, interest rate, credit report, loan)

[ZenMaster2008]

I am currently a WF customer and do all my banking through them. I haven't switched to my credit union yet out of sheer laziness. Surfing through both websites it appears both would offer me near the exact same interest rates. What advantages besides customer service would a CU offer me over a big name bank? And would the CU even work with me on a new mortgage if I just joined them?

[NinaN]

ask about rates and closing costs as they can differ. Also ask about time to fund loan as that is important.

[Okey Dokie]

You could always ASK the credit union if being a new member would impact your chances of approval. I know at the CU's I am a member of, the length of time of membership (or even account balance) made no difference whatsoever for any loan or mortgage, my credit report was the criteria used.

IMO, I would definitely go with the credit union and leave Wells Fargo in the dust.

[codydog2]

Definitely ask about the closing costs. Our CU had better rates than the bank we were dealing with (not WF). However the CCs were significantly higher 9000 vs 6000 for paying off the same amount of points. The rates were not that far off to make it worth it for me.

CU dont always have better customer service. I got my mortgage through a midsized bank and loan officer was much easier to deal with then when I initially dealt with the CU. I dont know how bad WF is though. They now service my loan but I have never actually had to talk to anyone there.