You're ready to purchase or refinance your home, but you don't want to make the difficult decision between local service and low cost pricing.
With Leaders you can have it all - local decisions, local servicing, and outstanding loan pricing.
*only available to eligible residents of Tennessee
Even if you have funds available for a down payment, depleting your bank account may leave you in a tight position as you transition from homebuyer to homeowner. This risk is avoidable with Leaders Credit Union.
Leaders has unique in-house loan options to help you become a homeowner without jeopardizing your financial position. In some instances, you can even avoid monthly private mortgage insurance (PMI), a benefit typically reserved for those pursuing a large down payment conventional loan.
Our in-house mortgage loans are underwritten locally by Leaders. While the majority meet traditional underwriting guidelines, we pride ourselves on taking a common sense underwriting approach to our in-house home loans.
Traditional underwriting guidelines serve a valuable purpose, for both the lender and homebuyer, but not every person deserving and capable of homeownership fits into the often rigid box created by these guidelines. In these situations we ask ourselves, does this loan make sense for everyone?
Speed has become as important a service factor as quality, and mortgage financing is no different. The scenarios for which homebuyers need to close ASAP are endless: end of rental term, new baby's arrival, moving from out of town, selling current house, just plain excited to move in, etc.
With our in-house home financing, we've minimized the closing timeline by removing many of the "hurry up and wait" hurdles of the traditional mortgage process.
In short, "loan servicing" is the process of providing loan statements, collecting payments, managing/dispersing excrow accounts, and providing loan information. The majority of originating lenders transfer "servicing rights," and multiple transfers during the life of a loan is common.
While loan terms do not change, a servicing change can be a headache during the transition and beyond depending on the new servicer. Our in-house loans are serviced in-house. We'll be here to help on the first and last day of your loan.