Most people assume that banks are the fastest and cheapest way to secure a mortgage, but lately credit 
unions have been trying to promote their businesses by offering better mortgage incentives than most banks. For instance, some are refunding portions of real estate agents’ commissions to help buyers with expenses, while others are lowering downpayment criteria or offering closing cost assistance to their customers. In order to make their services more attractive to buyers NASA Federal Credit Union now offers zero-down mortgages up to $650,000 with no private mortgage insurance, and Navy Federal entices customers with zero downpayments and no private mortgage insurance premiums. Also, Navy Federal offers the standard menu of mortgage products from FHA, which is 3.5 percent minimum down, and the Department of Veterans Affairs, which is nothing down, to those customers who qualify.
Many mortgage seekers make the mistake of thinking that banks are their best option, but credit unions are actively trying to attract customers by offering incentives that beat those provided by most banks. Therefore, people who are considering buying a home should really take the time to explore what else is out there, because now is the time to score the best deal before interest rates on mortgages are increased this summer. If you are thinking about investing in residential or commercial real estate in South Florida, contact a RE/MAX agent today and get a professional guide to all the best properties on the market!