Golden 1 Credit Union, based out of Sacramento California, is one of the largest credit unions in the country by both assets and members – 6th largest by assets and 4th largest by members. They were founded by a group of California state employees in 1933.
Like most credit unions, Golden 1 is a membership financial cooperative which is owned by its members. Therefor Golden 1 has no shareholders to report to and profits garnered can be returned to their members in the form of higher savings rates and lower loans rates.
Who Can Obtain a Mortgage or Home Loan through Golden 1 Credit Union?
Anyone who lives or works in 34 of California’s 58 counties is eligible to join. Golden 1 also serves California state employees, members of CalPERS and CalSTRS, and employees of thousands of organizations and businesses throughout the state. Family members of Golden 1 members are also eligible to join.
Types of Mortgages Available through Golden 1:
They offer a wide range of home loan and mortgage products and financing to their members. They offer both fixed rate mortgages and adjustable rate mortgages as well as FHA loans and home equity loans. If eligible a FHA loan can be obtained through Golden 1 with as little as 3.5% down.
Golden 1 Credit Union Mortgage Rates:
(Rates accurate as of September 2011. Please visit golden1.com for updated rates and information.)
- 30 year fixed rate mortgage featuring an APR of 4.322%.
- 15 year fixed rate mortgage featuring an APR of 3.50%.
- FHA 30 year fixed rate mortgage featuring an APR of 5.061%.
- FHA 15 year fixed rate mortgage featuring an APR of 3.987%.
Home Equity Loan Rates through Golden1:
- “Equity My Way Line of Credit” featuring an APR of 4.50%.
- 15 year fixed rate equity loan featuring an APR of 6.99%.
Do you have experience in obtaining a home loan or mortgage through Golden 1 Credit Union? If so, please share you experience by leaving a comment.