For A Cheaper Home Loan, Try A Credit Union 19. March 2015 Administrator Home Loans (0) Credit unions are a reliable and credible source of cheaper home loans as compared to banks and other financial institutions. These are member owned and operated organizations working with the sole purpose of benefiting their affiliates. Given here are some of the attractive features that make credit unions the best choice for home loans in Killeen, TX: Customers Are The Topmost PriorityIn contrast to corporate banks, credit unions work to serve their members. Thus they offer better customer services and spare no single effort to make sure that the depositors are satisfied. They are less focused on making a sale or profit and more on providing affordable home loans at competitive rates of interest. The members of the credit union are given personal attention and customized plans. Lower Rates Of InterestsDue to being non-profit entities, credit unions are exempted from paying most of the taxes. This makes them able to offer home loans at significantly lower interest rates as compared to banks. Hence, you can make a lot of savings without having the burden of paying a huge home loan interest amount. Less Restrictive Eligibility Requirements Banks usually require higher annual income for a person to be suitable to apply for a home loan. Credit unions, on the other hand, do not have such strict eligibility requirements. Even if you have been denied approval from a bank, there are higher chances that you qualify for a home loan from a credit union. Easy Repayment OptionsIn case you are facing a financial constraint any particular month, the credit unions also offer a ‘skip-a-payment’ feature for your convenience. Using this, you can easily choose to avoid making the repayment, with the condition that your loan term would be extended for that time period.Customized ServicesA credit union is much more flexible in terms of their loans policies and terms or conditions. It can also offer exceptions for credible members in case any unanticipated issues come up with your home loan application. As the credit union is member focused, it has the right to vote on any matters that can have a potential effect on the rates of interests. We, at Greater Central Texas Federal Credit Union offer affordable and convenient home loans to the people of Killeen, TX. For more details, you can call us at (254) 690 – 2274.