Point West Credit Union
Client Review on Point West Credit Union
Feedback:
I called 4 Portland area credit unions to compare home equity lines of credit and decided to go with Point West because they had the best rate and terms. In my research I saw they had mixed reviews, but most of the negative reviews related to customer service and limited branch locations, and I didn't think any of that would impact my situation. So I applied online. Almost a week passed and I heard nothing, so I called them, learned who my rep was and left a message. I expected a call that afternoon. When I didn't hear back, I called again the next morning and got through to my rep. I learned they needed to confirm I had mortgage insurance. This didn't make any sense to me because mortgage insurance is only required if you've paid less than 20% equity into the property. The rep called the underwriters to confirm. And they insisted I must have mortgage insurance to get the line of credit so my application was denied. Really?! My credit score is over 800, I've never missed a payment in my life, and I have more than enough equity in my house for the small loan I was requesting. I called the 3 other credit unions to see if they required mortgage insurance for their home equity line of credits and all said no and were confused by the question. I asked my mortgage broker if she had ever heard of such a thing and she said she hadn't. I then chose one of the other credit unions to start my application and within 2 days I had a pre-approval letter. Missed opportunity Point West! I would have been easy money for you.
Email Us
Our team would love to communicate with you and generally responds within 24 hours.
Our Partners
become a partner
