Credit unions are also worth checking into, as they often have lower
rates than larger banks simply because credit unions are smaller and have to compete for business.
Smaller banks scored two points higher, a 79,
than larger banks when it came to consumer satisfaction with checking, savings and loan services.
They are far more
agile than large banks, whose digital offerings can be overshadowed by the feature - rich applications developed by technology firms.
If you look at Page 3 of C's Y - 9 performance report, you'll see that C's yield on loans is 2 %
higher than the large bank peer group, yet the bank has a spread on earning assets half a point lower than other large banks.
In addition, regional banks» relatively simplified structure could also make them more resilient to capital market
headwinds than larger banks.
Credit unions and regional banks may have a little more wiggle room to bend the loan approval requirements to meet your
situation than larger banks.
As a family - owned firm with a passion for customer service, United Home Loans is able to provide greater flexibility and
customization than larger banks and lenders.
You may have a better shot at getting approved if you apply in person at a credit union or community bank where you've had a banking relationship for years, as local lending institutions may be more
flexible than a larger bank might be.
A broker with access to a wide variety of programs may be better equipped to help you with
this than a large bank with its conservative offerings.
In between are smaller, local banks, often referred to as community banks, and online - only banks, both of which are known for being more consumer - friendly for average customers
than large banks.