Whether you are thinking about buying a brand new home or if you want to refinance your existing home or get a home equity line of credit, you will definitely want to make sure that you are getting the best possible loan interest rates and fees. You can get great interest rates in New Bedford at St Anne Credit Union. There are a variety of credit union loans to choose from for homes, home equity, refinancing, auto and personal. All you need to do to apply for one of these loans is to be a member of our credit union. Members receive lots of great perks including special savings account interest rates, low fees and other great financial options.
What is a Credit Union?
If you have never joined a credit union before, you might have some questions. While credit unions are somewhat similar to banks in the types of services and options that they offer, they are still quite different. A credit union is a not-for-profit type of organization that work for the purpose of serving their members. They make loans, have checking accounts, savings accounts and other ways to help you grow your money, however they are member-owned and have many unique opportunities.
When you become a member of a credit union, you are not a customer, you are a part owner. Credit unions and owned by the people, controlled by the voting voice of the people and offer great savings and options for their members. Because credit unions are not-for-profit, they pass all savings and profits on to their members in the form of lower loan interest rates, better savings account interest rates, reduced fees for credit union loans and services, as well as a whole host of other opportunities.
In order to join a credit union and take advantage of savings options and great interest rates in New Bedford, you must meet one of two specific criteria: you must either live or work in Bristol or Plymouth counties in Southeastern Massachusetts. Other credit unions have other criteria, such as working for a specific employer, community involvement or membership in another group or organization.
How to Get the Best Loan Interest Rates
The best way to get the lowest interest rates in New Bedford is to visit St Anne Credit Union. Before you make decisions about home loans, including a home equity line of credit or other types of credit union loans, make sure to speak with your representative about our loan interest rates. You can visit our website or call our office to learn about our current published rates. Credit unions are able to pass on savings and other opportunities, such as higher savings account interest rates, to our members.
In most situations, your local credit union in New Bedford will be able to provide you with higher interest rates for savings and lower loan interest rates for home, auto and personal loans. Credit unions also tend to charge less rates for fees than traditional banking institutions and even have better interest rates on credit cards and other credit options. We even require lower minimum deposit balances and more opportunities to grow your money, including money market accounts and certificates of deposit.
Get the Loan That is Right for You
Before you settle on a home loan, whether you are purchasing a new property or refinancing the property that you currently live in, it is important to make sure you are getting the best possible deal available. Compare things like loan interest rates, fees, points and other aspects of credit union loans, to make sure you are getting the loan that is right for you. You need to know what you can afford by reviewing your monthly spending plan and finances. Make sure to consider not just the mortgage payment, but also the insurance, property taxes, monthly maintenance and utility costs.
Work with your loan specialist to make sure you get the best interest rates in New Bedford at St Anne Credit Union. Compare options for a home equity line of credit to make sure you can afford the payments. Don’t just look at loan interest rates, make sure to check everything across the board, including down payments, private mortgage insurance, points, fees and any other requirements needed to get you the best possible deal. Make sure that the features of the credit union loans, including fixed or adjustable rate interest loans, payment adjustments, interest-only options, early pay-off penalties and balloon payments make sense for you and your finances.
Call St Anne Credit Union in New Bedford
If you are interested in learning more about the options and opportunities available for credit union loans, loan interest rates, savings account interest rates, home equity line of credit loans and other financial services, give us a call at 508-993-0011. Our team of representatives can help you find the services you require, answer your questions about joining a credit union, and assist you in becoming a member.