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Amplify Credit Union offers mortgage loans, refinance and home equity products to members who must have ties to Texas. But members who live outside of Texas won’t have access to a physical branch.
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, Home Equity/HELOC, Refinance |
---|---|
Minimum credit score | Conventional: 620 |
Minimum down payment (Conventional) | 3.5% |
State availability | Only available in: TX |
NMLS # | 530487 |
The requirements for a home loan depend on the type of mortgage you want. For conventional loans, Amplify Credit Union prefers a loan-to-value (LTV) ratio of 80% but offers loans with minimum down payments of 3.5%. Each home loan has a different minimum credit score requirement. However, Amplify generally likes to see a FICO score of at least 620 to get the best rates.
You’ll need to upload the following documents to verify your information:
Amplify lists some of its general administrative fees for requesting documents and duplicate statements. Other fees include:
The steps below walk you through the 10-minute application process, which you can also use to prequalify for a loan.
Amplify offers all the mortgage loans you’d expect to see from larger nationwide banks. And as a member, you’ll have access to several mortgage-based personal loans that not only allow you to tap into your equity but can be secured using either a lien or an Amplify savings account.
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Amplify doesn’t have many online customer reviews but is accredited with the Better Business Bureau (BBB) and has an A+ rating as of August 2021. With only three customer reviews, the credit union has earned 1 out of 5 stars, with customers complaining of billing mistakes and poor communication with loan officers. Amplify has responded to seven customer complaints over the past three years.
This lender doesn’t have an entry on Trustpilot but has 31 reviews on Yelp, where it averages 2.5 out of 5 stars.
Amplify Credit Union could be the lender you’re searching for, and these perks and drawbacks are yours to weigh out before deciding.
Established in 1967, Amplify is a member-owned credit union in Central Texas. It has almost $1 billion in assets across more than 60,000 members. They also offer banking services, credit cards and insurance policies.
Review by
Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.
If you live in Central Texas, Amplify Credit Union may be a good option with its wide variety of home loans and down payment options as low as 3.5%. The loan application is straightforward to navigate, but a few customer reviews reflect poor customer service.
If you’re looking for a bank with more branches for in-person help, look at other options. Amplify only has five branches, all located in the greater Austin area.