@kleahc wrote:
What kind of difference in interest rate could I expect between a conventional lender (offering 4.75%) and a portfolio loan from a credit union?
Benefits to using a portfolio loan? I am planning to put 10% down.
Depends upon the lender. I have seen portfolio lenders do rates that are less than market by an 1/8th and others that are market or slightly higher.
Benefit to you for portfolio is the lender retains the loan and the servicing so they don't have to follow the fannie or freddie guidelines; they set their own guidelines.
