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Alliant Credit Union
Alliant Credit Union is good for borrowers who can join the credit union or are first-time buyers who want to avoid paying separately for mortgage insurance.
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Loans offered
Conventional, jumbo, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; home equity line of credit (HELOC)
Min. credit score required
Undisclosed
Nationwide availability
Available in all states except Hawaii, Maryland and New York
Min. down payment
5% for conventional loans
Alliant Credit Union
4.3
Bankrate Score
Loans offered
Conventional, jumbo, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; home equity line of credit (HELOC)
Nationwide Availability
Available in all states except Hawaii, Maryland and New York
Min. credit score required
Undisclosed
Easy-to-use website with breakdown of customized rates and closing cost estimates
Low- and no-down payment options, plus a no-PMI product
Up to $6,500 back through the Alliant Home Rewards program
No government-backed loans such as FHA or VA
Doesn’t disclose minimum borrower requirements online
Alliant Credit Union is good for borrowers who can join the credit union or are first-time buyers who want to avoid paying separately for mortgage insurance.
Alliant Credit Union charges an origination fee between $995 and $1,350, depending on loan type. The credit union doesn’t charge an application fee, however, and there are no membership fees. It also displays mortgage rates on its website, including the interest rate and APR, and you can get an estimate of a personalized rate based on what you plan to contribute to a down payment and your credit score.
Alliant Credit Union’s mortgage products include conventional and jumbo loans with either a fixed or adjustable rate and options to refinance. The credit union also offers home equity lines of credit (HELOCs) to borrowers in several states.
While it doesn’t specifically disclose borrower requirements online, its rate tool does offer a glimpse into its application standards. You can apply for a preapproval and your mortgage relatively quickly through the website, in a process that takes 20 minutes, according to the credit union. Its website also features a simple tool to estimate your monthly payments and closing fees based on a few key points: the home’s purchase price, where it’s located, your down payment and your credit score. You don’t have to share your contact information for the customized quote, and the tool allows you to compare different types of loans, as well.
Alliant Credit Union was founded in 1935. It is accredited by the Better Business Bureau with an A+ rating. It has a “Poor” rating on Trustpilot, but that’s based on less than 20 testimonials as of this review. Borrowers can contact the credit union any time at 800-328-1935 or by email. Its website also includes contact forms for each of its loan officers.
You can refinance your existing mortgage with Alliant Credit Union, and take cash out if you qualify. With as little as 5 percent equity in your home, you can also use the Alliant Advantage Mortgage program to refinance into a lender-paid mortgage insurance ARM. The credit union’s online rate quote tool offers a complete breakdown of refinance fees, closing costs and rates.
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