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The Bank-Fund Staff Federal Credit Union (BFSFCU) provides a slate of mortgage services to its membership, including a variety of fixed- and adjustable-rate mortgages. But the credit union’s narrow membership rules and lack of specialty loans may keep it from being the right lender for you.
Loan products offered | Conventional, Jumbo, Home Equity, HELOC, Refinance |
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Minimum credit score | Conventional: 620 |
Minimum down payment | 3% |
State availability | Available in all states |
NMLS # | 283762 |
This credit union doesn’t provide its mortgage loan requirements online. But it does offer a quote tool that allows you to get interest rate quotes by entering general information about the loan you’re looking for, your down payment and your credit score. The tool is not an official preapproval with the lender and doesn’t guarantee that you can get a loan with BFSFCU.
BFSFCU doesn’t list all its required documents online because it uses an automated underwriting system that verifies your data without always needing corresponding documentation. But you may need to provide some general documents, including the following:
Because mortgage fees can vary between states and even counties, BFSFCU doesn’t give specific dollar amounts for their fees online. But they include an accurate estimate of mortgage fees as part of their quotes after you apply for a loan. You can expect to pay the following fees as part of your closing costs.
You can start your application online by following the steps below.
This credit union offers the following additional mortgage loans:
BFSFCU offers multiple terms for standard fixed- and adjustable-rate mortgage loans. But you’ll need to look elsewhere if you want a government-backed loan, such as an FHA, VA or USDA loan. Other than refinance and home equity products, this credit union doesn’t offer specialty loans you might find at other lenders, such as physician or construction loans.
BFSCU’s Home Advantage program offers a cash reward to borrowers who register and use one of the program’s approved real estate agents. You get a cash reward equal to 20% of the agent’s commission, which you can use to pay closing costs, pay down the principal on your home or take as cash to use as you please.
Since this credit union only offers its products to a limited membership, it can be hard to find customer reviews online. As of February 1, 2021, BFSFCU isn’t accredited with the Better Business Bureau (BBB) and has a D- rating for failing to respond to the four filed complaints. There are no BBB customer reviews.
BFSFCU has a 2-star rating at Yelp with only 21 customer reviews. Customers complain of poor customer service and an inadequate website and mobile app for online banking.
BFSFCU was opened in 1947, offering membership to the employees and family of the World Bank Group and the International Monetary Fund. All the credit union’s physical locations are in Washington DC, but it’s part of the Co-op Credit Union shared branches network, which offers banking services nationwide at other credit unions within the network.
This lender prides itself in offering services to its international customers and recently signed an agreement with Western Union to provide international payment services.
Review by
Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.
This credit union offers a decent range of fixed- and adjustable-rate mortgage terms along with refinance loans and home equity products. But you have to be a member to apply, and BFSFCU doesn’t offer government-backed loans. So, if you’re looking for a VA, FHA or USDA loan, you’ll need to shop around for another lender.