Mortgage Review: BECU (Boeing Employees Credit Union)

August 21, 2010 No Comments »

Once a credit union strictly for employees of Boeing Co, BECU (Boeing Employees Credit Union), now offers membership to individuals and families throughout Washington state. If you live in Washington and happen to be in the market for a home loan you may want to check out their current mortgage rates as they are beating the national average(s) by a fairly decent margin.

Mortgage Rates through BECU:

(Rates accurate as of August, 2010. Visit our mortgage center for updated rates in your area.)

- 30 year fixed rate mortgage going for 4.388% APR depending on credit history.

- 30 year fixed rate jumbo mortgage going for 4.887% APR depending on credit history.

- 15 year fixed rate mortgage going for 4.029% APR depending on credit history.

The mortgage rates shown above are based on a credit score of 740 and a loan amount of $240,000. They have home loan options for members with less than ideal credit but you will need to contact a representative for a quote. You can visit BECU’s home loan center here.

Although BECU accepts membership(s) in Washington State they also have home loan packages available in Oregon, California, Arizona, Kansas, Missouri, Pennsylvania and Illinois.

BECU Mortgage Ratings and Complaints:

There are plenty of review websites out there covering Boeing Employees Credit Union, however, you may want to keep in mind these reviews may not always be 100% genuine, simply because there is no way of guaranteeing the identity of the reviewer. That being said, we got a better idea of their ratings as an institution from the BBB (Better Business Bureau). The BBB has given them a rating of “B+” and has a total of 37 complaints registered with them – all of which have been closed and resolved.

Of the 37 complaints filed on the BBB, 19 were geared towards billing or collection problems, 16 had to do with the actual product or service and 2 revolved around misleading advertising or sales.

If you have experience in the home loan process with BECU, please share by leaving a comment below.

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