Show HN: I built a dashboard to compare mortgage rates across 120 credit unions

Summary

Buying a home or refinancing a mortgage is tough enough without confusing ads from banks and big lenders. Credit unions can offer competitive rates compared to big banks because they’re member-owned, non-profit institutions. They focus on serving their members, not maximizing profits for shareholders. But without big budgets and marketing departments, credit union rates aren’t always easy to find or compare. That’s why we built a daily-updated comparison of mortgage rates from over 120 credit unions across the United States. Best Rate (APR) 5.49% -74 bps vs. National Avg Best 5.49% Good 5.65% Median 6.03% Institutions 116 Best Rate (APR) 4.91% -60 bps vs. Nat'l Avg -59 bps vs. 30Y Best 4.91% Good 5.13% Median 5.13% Institutions 119 Loading rate comparison table... Estimated monthly payment based on purchasing $400,000 home with 20% down, $567/mo taxes and insurance, and 1.65% closing costs. Click to customize Note: These rates are informational and not a commitment to lend. FinFam has no institutional affiliation and does not receive any referral fees. When we bought our home, the big bank I’d been using for years tried to sell me on a mortgage with 7% APR. Turns out a local credit union was offering 5.5% for the exact same mortgage. What surprised me most wasn’t that there were cheaper options, but that two mortgages can be exactly the same product, just with different packaging. In the USA, the government buys almost all mortgages, requiring them to be standardized. So why the price difference? As explored in this Bloomberg Odd Lots episode about credit card rates, higher rates are mostly to pay for advertising and marketing. Big banks have marketing departments that non-profit credit unions don’t have. That “exclusive” inbox offer from Chase or Wells Fargo isn’t generosity. It’s a bet that you won’t shop around. My goal with this tool is simple: help people realize they have options and potentially save thousands of dollars a year. IMHO, a better world might have...