Pros
- Has a fully online mortgage application and a highly rated mobile app.
- Offers financing for co-ops, a type of home that’s common on the East Coast.
- Interest rates are on the low side, according to the latest federal data.
Cons
- In-person service available only on Long Island, New York.
- Doesn’t offer renovation, construction-to-permanent or USDA loans.
- Customized rates not available online.
Lender | Min. credit score | Min. down payment | |
|---|---|---|---|
4.5 Visit Lenderat New American Funding at New American Funding | 500 | 3.5% | Visit Lenderat New American Funding at New American Funding |
5.0 Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC | 580 | 3.5% | Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC |
4.5 Visit Lenderat Better at Better | 620 | 3% | Visit Lenderat Better at Better |
4.5 Visit Lenderat NBKC at NBKC | 620 | 3% | Visit Lenderat NBKC at NBKC |
4.0 Visit Lenderat Prosperity Home Mortgage at Prosperity Home Mortgage | 580 | 0% | Visit Lenderat Prosperity Home Mortgage at Prosperity Home Mortgage |
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Full Review
What borrowers say about Bethpage mortgages
NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. NerdWallet assesses borrowers’ subjective experiences with lenders using customer satisfaction scores from Zillow.
Bethpage Federal Credit Union receives a customer rating of 4.92 out of 5 on Zillow, as of the date of publication. The rating reflects 215 customer reviews.
Bethpage’s mortgage loan options
4 of 5 stars
Bethpage Federal Credit Union's mortgage products include fixed- and adjustable-rate conventional loans, jumbo loans and government-backed FHA loans. Bethpage also offers loans for second homes and investment properties as well as financing for cooperatives, better known as co-ops. The credit union offers multiple options to refinance.
Bethpage does not offer purchase or refinance mortgages in Texas. The lender does not offer renovation or construction-to-permanent loans, or USDA mortgages in any state.
Bethpage HELOC
The lender also offers home equity lines of credit, or HELOCs. These second mortgages are one way for homeowners to access existing home equity without refinancing or selling their home. Funds obtained with a second mortgage can be used for expenses such as home improvements, education costs or debt consolidation.
Bethpage Federal Credit Union's HELOC features a fixed-rate option with 5-, 10- and 20-year repayment terms, as well as a variable-rate HELOC that can be converted to a fixed-rate loan. A HELOC from Bethpage may be available with no closing costs or annual fee. Details about qualifying for a HELOC and current rates are available on the lender's website.
» MORE: Best HELOC lenders
What it’s like to apply for a Bethpage mortgage
4 of 5 stars
Before getting a mortgage with Bethpage Federal Credit Union, you must become a member. That's easy and inexpensive to do: Open a savings account with a $5 minimum deposit. Bethpage has branches in New York but serves customers in almost every state.
You can start a Bethpage mortgage or HELOC application online, by visiting a branch or by calling a loan officer. You can submit and sign documents online and track the loan process digitally. Bethpage also offers a highly rated mobile banking app for Apple and Android devices.
» MORE: How to apply for a mortgage
Bethpage’s mortgage rates and fees
3.5 of 5 stars
Bethpage earns 3 of 5 stars for average origination fee.
Bethpage earns 4 of 5 stars for average mortgage interest rates.
NerdWallet analyzes federal data to compare mortgage lenders’ origination fees and offered mortgage rates. We measure annual averages across all loan types, as reported by the lenders. Compared with other lenders, Bethpage’s origination fee is about average and its interest rates are on the low side.
Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.
» MORE: How to get the best mortgage rate
Bethpage’s mortgage rate transparency
4 of 5 stars
Bethpage offers sample rates for numerous mortgage types on its website, but you need to speak with a loan specialist for a personalized rate quote.
» MORE: Compare current mortgage interest rates
Alternatives to a home loan from Bethpage
Here are some comparable lenders we review that borrowers can consider.
PenFed Credit Union offers a good variety of purchase loans with rates and fees on the low end. Alliant Credit Union scores highly in rate transparency, but it doesn’t offer government-backed loans.
» MORE: Best credit union mortgage lenders
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