Alliant Credit Union Mortgage Rates & Reviews

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Alliant Credit Union is a global credit union founded in 1935 and headquartered in Chicago, Illinois. The credit union offers a variety of services such as banking, checking, savings, and credit cards. It is the eighth largest credit union in the US with over 385,000 members served by 550 employees. Alliant Credit Union is the 8th largest US credit union by assets with $12 billion under their management.

Lender Information
Official Logo of Alliant Credit Union
Official Website of Alliant Credit Union:
https://www.alliantcreditunion.org/

Current Alliant Credit Union Mortgage Rates †

Data Compiled by the Casaplorer Team

Current Alliant Credit Union Conventional Fixed Rate Mortgage Rates

TERMRATEAPRBENCHMARK
15-Year Fixed Rate6.000%6.167%---
20-Year Fixed Rate6.250%6.325%---
30-Year Fixed Rate6.250%6.305%---

Last updated May 29, 2023. Rates are for informational purposes only.

Current Alliant Credit Union Variable Rate Mortgage Rates

TERMRATEAPRBENCHMARK
3/6 ARM6.000%7.241%---
5/6 ARM6.000%7.046%---
7/6 ARM6.125%6.926%---
10/6 ARM6.250%6.799%---

Last updated May 29, 2023. Rates are for informational purposes only.

While we try our best to get your the best rates, we cannot guarantee that they are always accurate. Casaplorer assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use. Rates shown are for informational purposes only and are based on zipcode 94123. Estimated payments do not include taxes and insurance. Some state and county maximum loan amount restrictions may apply. Casaplorer is not endorsed or sponsored by any mortgage lender or government agency.Please refer to https://www.alliantcreditunion.org

Alliant Credit Union Online Banking

The Alliant Credit Union online mortgage application is laid out for potential home buyers in just a few simple steps. It starts with an online pre-approval application. Here, you will have to provide any personal or financial information that the bank will need. At this point in the mortgage application process, you haven’t yet secured a loan. Once you have found a home and are ready to purchase it, you will have to complete a separate mortgage application. In addition to providing more information, Alliant will perform a hard credit inquiry, which will temporarily lower your credit score.

Next, you will be connected with an Alliant mortgage loan officer that will guide you through the rest of the mortgage application process.

Alliant Credit Union Reviews

To create an estimated performance rating, we have collected user ratings from multiple sources and averaged them. Unfortunately, Allion Credit Union is a relatively small financial institution, so there are few user ratings available. The average rating may not be a true representation of Alliant’s performance, but reflects user reviews available.

The weighted average of ratings is 2.73/5.

Summary of Alliant Credit Union Pros and Cons

Pros

  1. Online mortgage application process
  2. Low minimum down payment options without mortgage insurance

Cons

  1. No FHA, VA, or USDA loans
  2. Limited mortgage products
  3. No physical locations

Alliant Credit Union Low Minimum Down Payment Options

The Alliant Advantage Mortgage (AAM) program lets home buyers receive mortgages with very low minimum down payments.

  • First-Time Home Buyers: First-time home buyers can receive mortgages with as low as 0% minimum down payments for loan amounts of up to $500,000.
  • Non-First-Time Home Buyers: Other home buyers can get mortgages with as low as 5% minimum down payments. You can also refinance a mortgage with as little as 5% equity remaining.

With any AAM mortgage, home buyers will not have to make Private Mortgage Insurance (PMI) payments. With most lenders, any down payment below 20% requires monthly mortgage insurance.

Alliant Credit Union Mortgage Products

Compared to major banks and other large credit unions, Alliant Credit Union has fewer mortgage products available, but they still have a sizable selection. The main benefit to using Alliant Credit Union for a mortgage is to make a lower down payment. Alliant Credit Union offers the following mortgage products:

Alliant Credit Union is not approved by government-insured mortgage agencies to issue conforming loans. These mortgage programs are meant for select home buyers and include:

If you are looking for specialized loans and mortgage-related products, you may need to look elsewhere.