Are credit unions the way to go? (fixed rates, rate, refinance)

[Sam82]

I hope to be mortgage shopping in less than a year. I want to put between 5% to 7% down on my home so that I can still have some money in the bank. I'm a first time home buyer with excellent credit. Should I be looking at my credit union for the best deal?

[AndrewSoss]

Good Mortgage Broker > Credit Union > Bank > Bad Mortgage Broker

That's pretty much the chain. The problem is telling the difference between the good brokers and the bad brokers.

[HappyTexan]

Originally Posted by Sam82

I hope to be mortgage shopping in less than a year. I want to put between 5% to 7% down on my home so that I can still have some money in the bank. I'm a first time home buyer with excellent credit. Should I be looking at my credit union for the best deal?

No reason not to shop a couple of places and get the best rate and terms. I had my original mortgage with Chase.
Went to refi and they could not beat my CU so I refinanced with my CU.
I had no qualms leaving Chase and got a good deal with my CU.

[dad2jules]

Depends on what your looking for. Credit Unions blow me away on ARM's here in NC, but can't compete on fixed rates.