Alliant CU - Jumbo Mortgages

[KatieKatie]

Hi- I am considering Alliant CU’s jumbo mortgage option with a 5% down payment and no PMI. While I realize the PMI is factored into the APR, the rate seems to be very reasonable in spite of that with a low down payment. I haven’t inquired about the specifics of the closing costs just yet.

Any experience processing a mortgage with Alliant CU that you could share? I would love to hear the good, the bad, and the ugly.

[Revelate]

Never tried them for a mortgage though they were fine for everything else... but many CU's outsource their mortgage process to some extent so it's hard to say with any one of them without first hand experience.

That said, take a hard look at their origination fees... I saw their rates and like you was pretty impressed, till I saw the customized rate quote, then things snapped back to what I was expecting for rates when buying no points (effectively).

[KatieKatie]

Thanks so much!  I'll have to look closely at the costs.