2021 Alliant Credit Union Mortgage Review

Alliant Credit Union is a non-profit financial cooperative. The credit union serves customers in all states except Maryland. Mortgage products include conventional, jumbo, refinance and home equity loans.

  • No-down mortgage mortgages are available for first-time home buyers with excellent credit.
  • You can get a mortgage without private mortgage insurance if you pay 5% of the down payment.

  • Loans from the Federal Housing Administration, Department of Veterans Affairs, and US Department of Agriculture are not available.

Alliant Credit Union offers conventional mortgage loans, including fixed and variable rate loans. The credit union does not offer USDA, VA, or FHA loans. However, the Alliant Advantage Mortgage program offers a 0% down payment option for first-time homebuyers and a 5% down payment option without private mortgage insurance.

“The Alliant Advantage Mortgage program offers loans with less than 20% down payment, no mortgage insurance and a corresponding savings on the monthly payment,” said Jerrold Anderson, vice president of residential loans for Alliant Credit Union. “We’re finding that many members have the income and the credit to qualify for a mortgage but don’t have the down payment. Alliant will lend up to $ 500,000 to qualified members with a 100% loan-to-value ratio.

The Caisse populaire Alliant offers:

  • Conventional mortgages.
  • Mortgage Refinance Loans.
  • Mortgage loans without down payment.
  • ARM loans.
  • First-time home buying program.

Alliant Credit Union does not disclose the minimum FICO score or maximum debt-to-income ratio requirements for mortgages.

Alliant Credit Union does not disclose loan charges.

Alliant Credit Union has an A + rating from the Better Business Bureau and is BBB accredited. The Consumer Financial Protection Bureau received 12 mortgage-related complaints for Alliant Credit Union in 2020. Each complaint was responded to in a timely manner.

Almost all Alliant Credit Union mortgage applications are completed online or via a mobile device. The lender uses electronic signatures and online document uploading throughout the loan approval process.

  • First-time home buyers looking for a zero down payment mortgage.
  • Home buyers who want to avoid private mortgage insurance.
  • Homebuyers who want a fully online mortgage application process.

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