Lol ok.
So you'd rather go to a large bank or broker who is going to have..
Higher closing costs (because the "regulations" are slim to none)
Higher rate (Commission broker would rather have you at 5 3/8 than 5 1/8 because they'd get a better pay check)
Higher underwriting fees - because they have their own underwriting fee, and then have to pay the 3rd party to actually underwrite it. ($+/_495 vs a CUs $+/_195)
OR
You can go to a credit union that can handle FHA & WHEDA loans just the same, but are not for profit so their best rate is literally their best rate (Vs. playing the game with a broker).
+ If it's a port loan through a credit union, and you can make bi-weekly payments
https://www.sfcu.org/content/section...ekly_Chart.jpg
You can save $30k in Interest and 4.5 years of payments on a 100k loan at 4.75 APR
+ Credit union mortgage banker is salary (Well, most), so all they care about is that you're getting the lowest rate and lowest costs.
+ Credit unions can offer relationship based pricing. I.e. if you've got your mortgage through a CU, you've got a huge relationship that will enable you to save money on auto loans or get better deposit rates in the future.
+ Even if you can get your seller to pay your closing costs, why would you rather have them pay the $2k+ in closing costs through a broker, vs picking up the cheaper closing costs through a CU, and taking that $2k of the principle of the home?
+ The average overdraft or NSF fee is $25 at a CU, vs $35 at a bank in addition to hundreds of other fees where a credit union will be MUCH lower 99% of the time, because they don't rely on non-interest fee income to pay their stockholders that credit unions don't have.
The comment of "Credit unions suck" isn't at all helpful to someone who doesn't want to throw their money away. There are some small banks that operate very much like a credit union, though.