USE Credit Union

We Save Members An Average Of $2,800 On Home Loans

Never thought a credit union offered home loans? Well it’s true! There are even added savings and benefits for credit union members that don’t usually come with home loans from big banks or other lenders.

How much can we save you? For starters, we'll cover your origination fee--a $615 value--on purchase loans as an added perk of membership. The amount will be credited at closing to make your loan an even better value!

“This year, we have a goal to assist 240 families achieve the dream of home ownership,” said Donald Coleman, CMPS, vice president of real estate at USECU. “USECU was established 80 years ago on April 26th. To honor this milestone, we've set aside $150,000 to assist 240 home buyers cover their origination fees.” 

According to Coleman, this number represents one new homeowner for every year USECU has been in business in the three markets we serve in San Diego, Alameda and Yolo/Sacramento counties.”

As a not-for-profit cooperative, Coleman said the Credit Union prioritizes having its members’ best interests in the forefront of everything it does. 

“Our lender fees are usually lower than the average bank or broker and we do not have junk fees,” he said. “Anything a bank or broker can offer, USECU can usually offer with better pricing and service guarantees.” 

In 2015, USECU members received an average combined rebate of $2,804 with their $615 lender credit and by using the credit union’s HomeAdvantage program, a comprehensive suite of services featuring easy-to-use tools, a network of real estate agents and cash-back rewards. 

The credit union also offers three industry-leading guarantees

  1. A same-day loan decision or the member receives $250
  2. A best-price guarantee or the member receives $750
  3. Guaranteed on-time closing or the member receives a 1/8th of 1 percent reduction off the interest rate for the life of the loan.*

“The time it takes to close a purchase transaction is usually based on the terms written in the purchase contract,” said Coleman. “However, I can tell you that in 2015 we closed several purchase loans in 17 days or less. To make this happen, the member followed the steps we outline in our Home Buyer Workshops.” 

To get started, Coleman encourages members and non members to register for HomeAdvantage. The program offers consumers the ability to find, finance and save on your next home all in one place. It also allows homebuyers to search the MLS without being bombarded with solicitation emails from real estate agents or loan officers. 

“Our program offers complete privacy and confidentiality while you search for a property. We do not sell your information,” Coleman said. “All of the real estate agents in the program have a minimum of five years of experience in the real estate industry and they understand the credit union philosophy regarding superior member service.” 

Lastly, if a member decides to use a real estate agent that is available through the HomeAdvantage program, USECU has negotiated a 20 percent rebate for members from the agent’s commission. 

“Overall the program is designed to lower your cost of buying or selling a home and we’re very excited to be able to offer this service to our members,” Coleman said.

For more information, visit HomeAdvantage and get started on your journey to homeownership! 

* See website for terms and conditions for the guarantees.

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