Ent Credit Union Mortgage Rates Reviews

Ent Credit Union Mortgage Facts

• Ent offers a full range of loan offerings, including fixed and adjustable-rate mortgage plans, jumbo loan options, and mortgage assistance programs

• The lender offers free pre-approvals

• Members can receive a $75 cash reward through the Ent Extras® program

• Approved borrowers may be eligible for a $75 home improvement gift card on new mortgage loans

• Ent offers a $500 Mortgage Closing Guarantee, which assures borrowers that if the lender does not close on time, the borrower will receive a $500 credit toward settlement costs 

• The 90-Day Lock & Shop rate protection allows borrowers to secure a competitive interest rate for up to 90 days while they’re still looking for their home

• A comprehensive Education Center and helpful Mortgage Glossary are available for current and potential borrowers to reference

• Focused solely on Colorado homeowners, Ent mortgage loan officers have localized expertise

Overview of Ent Credit Union

Founded in 1957 to serve Ent Air Force Base, Ent is now Colorado’s leading credit union.

While based in Colorado Springs, Ent’s membership is open to those who live, work, worship, or attend school in Arapahoe, Denver, Douglas, El Paso, Fremont, Jefferson, Pueblo, and Teller counties, as well as select communities in Weld and Adams counties.

History of Ent Credit Union

Ent began as a small credit union more than 60 years ago and now serves over 500,000 members in Colorado as a not-for-profit, community-chartered credit union.

Ent mortgage rates and qualifications fall in line with industry standards, although the lender does provide mortgage assistance programs for those who do not meet the usual minimum requirements.

The lender offers the basic mortgage and refinance options, along with a few Ent-exclusive programs and extras. However, Ent is only accessible to borrowers who are local to the Colorado communities they serve.

Limited to Colorado, Ent does not reach enough customers to rank on a national level. However, the lender is a trusted local business, earning a reputation as the state’s leading credit union.

Ent Credit Union Loan Specifics

Ent offers a standard lineup of mortgage and refinancing options, including fixed-rate, adjustable-rate, and jumbo loans. The lender also offers loans for land and construction, plus mortgage assistance programs for qualified borrowers.

As a Colorado credit union, Ent loans are only available to members living in the areas included in the field of membership.

This includes designated counties and Ent member relatives, as well as civilian and military personnel of the Colorado Air National Guard, Colorado Army National Guard, and Buckley Air Force Base in Aurora.

As such, Ent is the ideal lender for Colorado borrowers looking for a local credit union.

Fixed-Rate Loans

These loans offer stability for homeowners who plan to stay in their homes for several years and don’t expect significant income increases in the foreseeable future.

This is because fixed-rate loans maintain the same interest rate over the life of the loan, meaning the monthly payments do not change.

Ent offers fixed-rate mortgages with 10-, 15-, 20- and 30-year life spans.

Adjustable-Rate Loans

Adjustable-rate mortgages (ARM) are ideal for homeowners who plan to move or pay off the loan within 10 years, as well as those who expect income increases in the coming years because they offer lower initial interest rates at the beginning of the loan.

Those rates will then fluctuate periodically based on market interest rate trends. Options can range from as little as 3/1, which means the interest rate is fixed for the first three years and then will fluctuate for the remainder of the loan.

As such, Ent suggests ARMs for borrowers who want to maximize their buying power and secure lower payments. The lender offers 1/1, 3/1, 5/1, and 7/1 ARM options for qualified borrowers.

Jumbo Loans

Designed for homeowners who need a loan in excess of their county’s conforming limits, jumbo loans are available in fixed- and adjustable-rate options. Ent offers 15-, 20-, and 30-year fixed jumbo loans and 3/1, 5/1, 7/1 jumbo ARM options.

VA Loans

Insured by the U.S. Government’s Department of Veterans Affairs (VA), these loans are reserved for qualifying military personnel, veterans, reservists, and National Guard members.

Ent suggests these loans for qualified borrowers who want a loan with no down payment and prefer options without private mortgage insurance requirements. The lender offers 15- and 30-year fixed-rate VA loans.

FHA Mortgage Loans

These loans are ideal for borrowers with low-to-moderate incomes and less-than-perfect credit. Insured by the U.S. Federal Housing Administration (FHA), they often have a low or no down payment required, reduced original fees,

lower interest rates, and more flexible credit score qualifications. Ent offers 15- and 30-year fixed-rate FHA loans.

Lot and Land Loans

Ent provides these loans for borrowers who find their property before they’re ready to start building their home. Lot and land loans are available up to $500,000 and can be refinanced once the borrower begins construction.

The loans are amortized over 15 years with payments for either a three- or five-year term.

Construction Loans

Ent’s short-term interest-only construction loans are ideal for borrowers who are ready to build a primary or secondary home, excluding owner builds modular homes, kit homes, or extensions to existing homes.

The maximum loan amount is usually based on the lesser of 80 percent of the cost to build or 70 percent of the appraised value.

First-Time Home Buyer Program

The 30-year fixed-rate first-time homebuyer program is ideal for borrowers who have not owned a home in the past three years and want or need a loan with a low down payment.

Borrowers can secure a down payment as low as 3 percent, as well as manage the loan with predictable mortgage payments, long-term fixed interest rates, and reduced mortgage insurance premiums.

Mortgage Assistance Programs

Ent works with several Colorado mortgage assistance programs to offer loans for borrowers who meet low-to-moderate-income and resident qualifications.

These partnerships include the Colorado Housing and Finance Authority Loan Programs, El Paso County Turnkey Mortgage Program, and Denver Affordable Housing Ownership Program.

Ent Credit Union Mortgage Customer Experience

Ent offers a convenient online loan application process, which allows borrowers to complete the information in one sitting or log out and finish at a later time. Oftentimes, applicants can receive an immediate, free credit pre-approval after they submit their request for a loan.

This will include the approved loan amount and program based on income and debts.

The application requires borrowers to provide information on the type of loan they are interested in and personal details like primary address, property information, employment, income, assets, and liabilities.

Those who are already Ent members can log in with their online banking credentials for a faster application process.

The lender also offers several resources, including the Mortgage Loan Comparison Calculator and Mortgage Payment Calculator, to help borrowers navigate potential loan options before submitting an application.

Dedicated to upholding a rewarding membership, Ent generally receives approving feedback from its borrowers.

Ent Credit Union Lender Reputation

Ent is a credit union that has been serving Colorado communities for over 60 years. The lender has a National Mortgage Licensing System and Registry ID number of 405466.

The lender has been an accredited business since 1985 and has an A+ BBB rating with less than 10 complaints listed.

Ent is an Equal Housing and Equal Opportunity Lender, as well as federally insured by the National Credit Union Administration. Bankrate praised Umpqua Bank.

The lender also received local recognition from the readers of The Gazette who responded to the “Best of Springs 2018” survey, naming Ent the “Best Mortgage Company.”  Additionally, 10 of Ent’s mortgage loan offers were named on the National Mortgage News’ 2019 Top Producers list.

• Information collected on Jan. 17, 2019

Ent Credit Union Mortgage Qualifications

Ent follows the majority of industry standards when reviewing loan applications. A credit score is, of course, one of the most important mortgage qualifications.

Borrowers with a credit score above 670 should have a high chance of approval, and the lender will likely offer their best mortgage rates to those with excellent credit scores.

Credit Score	Quality	Easy of approval
760+	Excellent	Easy
700-759	Good	Somewhat easy
621-699	Fair	Moderate
620 and below	Poor	Somewhat difficult
n/a	No credit score	Difficult

As the lender is a credit union, membership is also involved in the mortgage qualification process. Living, working, worshipping, or attending school in one of the communities Ent serves is the main component of becoming a member.

After opening a savings account with a $5 Share Pledge, members are welcome to apply for loans.

Most loans require quality credit and a 20 percent down payment, although the lender does work with several state and federal mortgage assistance programs for borrowers who do not meet the standard credit qualifications.

Additionally, Ent accepts the industry standard for FHA loans, which is a 3.5 percent down payment and an average 580 FICO credit score. First-time home buyers may also be eligible for down payments as low as 3 percent

Ent Credit Union Phone Number & Additional Details

• Homepage URL: https://www.ent.com/
• Company Phone: (719) 574-1100 or 800-525-9623
• Headquarters Address: 7250 Campus Drive, Colorado Springs, Colorado 80920
• States Serviced: ENT offers mortgages in Colorado.

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