Alliant Credit Union Mortgage Review 2026
Alliant Credit Union offers a strong selection of home loans, including low-payment options for first-time homebuyers. As a digital-only credit union, Alliant is best for borrowers who are comfortable with an online mortgage process and are willing to become members of the credit union.
See how we reached our verdict below.
- Low-down payment and first-time homebuyer loans, including a no-PMI program
- Cash back Home Rewards program ($350 to $9,500 for qualified buyers)
- No prepayment penalties for early mortgage payoff
- You must become a member
- Credit score requirements for individual mortgages are not specified
- No physical branches
Alliant Credit Union mortgage overview
Originally founded in 1935, Alliant Credit Union is headquartered in Chicago and serves over 900,000 members. Like all credit unions, it’s a nonprofit financial cooperative, meaning its members are also co-owners. If you are interested in an Alliant mortgage, you’ll need to qualify for membership and join the credit union first.
Alliant is a fully digital operation, and its members can take advantage of a robust range of home loans, including specialty programs designed to assist first-time homeowners.
- Areas of service: 49 states (Maryland excluded) and Washington, D.C.
- Digital service: Online-only lender
- Headquarters: 11545 W. Touhy Ave., Chicago, IL 60666
- Website: AlliantCreditUnion.org
Alliant Credit Union rates and fees
Rates
Alliant Credit Union publishes its lowest rates online for fixed- and adjustable-rate mortgages and home equity lines of credit, but rates will vary based on an individual’s loan application. Alliant’s average mortgage rates were 0.35 percentage points above the average prime offer rate (APOR) in 2024. That’s a significant drop from 2023, when its rate was 2.06 percentage points above the APOR.
The APOR is a benchmark rate calculated by the Consumer Finance Protection Bureau (CFPB) and can be used to identify higher-priced mortgage loans. In this case, Alliant’s rate spread decreased by 1.71 percentage points from 2023 to 2024, putting its rate on par or even lower than some of its credit union competitors.
Fees
In 2024, the average cost of taking out a home loan with Alliant was $4,966, according to Home Mortgage Disclosure Act (HMDA) data. The lender clearly lists its fees online and doesn’t charge any escrow waiver or application fees.
Alliant’s origination fee is listed at $1,200 for both fixed-rate and adjustable-rate mortgages, but the exact amount may vary. However, Alliant’s average total loan cost and origination fees are lower than many of its competitors, including other credit unions.
- The Alliant Home Rewards Program connects buyers with recommended real estate agents, and using the program may qualify you for a cash-back reward ranging from $350 to $9,500. Not all buyers are eligible, and additional restrictions may apply. For example, the program is not available to buyers in Alaska, Iowa, Louisiana or Missouri.
- The Alliant Advantage Mortgage (AAM) program offers eligible buyers the option of 0% down on loan amounts up to $650,000. Repeat buyers and homeowners refinancing with at least 5% equity may also qualify for a 5% down payment through the program. In both cases, private mortgage insurance (PMI) is not required.
- Alliant Credit Union offers a specialty loan program for physicians, offering 0% down payment with no PMI required. You’ll need to reach out to an Alliant loan officer for more information.
What types of mortgage loans does Alliant Credit Union offer?
Alliant Credit Union offers a variety of home loans, including:
Alliant Credit Union offers several types of conventional loans: fixed-rate mortgages, adjustable-rate mortgages, cash-out refinances and rate-and-term refinances.
Conventional loan qualification requirements
- 0% to 5% minimum down payment, which varies by borrower eligibility and conventional loan type
Alliant offers FHA loans, which are home loans backed by the Federal Housing Administration (FHA). These loans may have more lenient requirements, including lower credit score requirements.
FHA loan qualification requirements
- 3.5% minimum down payment
Alliant underwrites VA loans, available through the U.S. Department of Veterans Affairs (VA), for active service members, veterans and their surviving spouses. These loans may offer more competitive interest rates.
VA loan qualification requirements
- 0% down payment option for eligible borrowers
- No mortgage insurance required
- Must be an active member of the military, a veteran or a surviving spouse
Alliant offers USDA loans, backed by the U.S. Department of Agriculture, for borrowers seeking to purchase homes in designated rural areas. Use the U.S. Department of Agriculture (USDA) eligibility map to learn whether a property qualifies for a USDA loan.
USDA loan qualification requirements
- Can only purchase a house in a designated rural area
- Must meet the income cap designed to help low- and moderate-income borrowers
- 0% down payment option for eligible borrowers
Alliant offers fixed- and adjustable-rate jumbo loans, which are mortgages that exceed the loan amount limits set for conventional loans — $832,750 in most U.S. counties and $1,249,125 in certain high-cost areas.
Jumbo loan qualification requirements
- Higher than average credit score
- Larger down payment of at least 10% or higher may be required
Alliant underwrites home equity lines of credit (HELOCs) with a 10-year interest-only draw period and a repayment period of up to 20 years.
Home equity loan qualification requirements
- Can borrow up to a maximum 85% loan-to-value (LTV) ratio
Alliant Credit Union mortgage qualifications
| Credit score minimum |
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| DTI ratio
Debt-to-income (DTI) ratio compares your monthly gross income to your monthly debt payments.
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| Down payment minimum |
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Don’t know your credit score? Get your free score on LendingTree Spring today.
Alliant Credit Union doesn’t disclose the requirements it uses to approve and deny mortgage loan applications. However, according to Home Mortgage Disclosure Act (HMDA) data, the lender approved 56.9% of all loans from applicants with a debt-to-income (DTI) ratio of less than 40% and denied 30.7% of those with the same DTI ratio in 2024.
The lender may be more favorable than other large-scale credit unions, such as PenFed, which approved only 49.2% of applicants and denied 50.8% of would-be borrowers. In the same year, Alliant approved 64.1% and denied approximately 35.9% of all home loan applicants.
Aim to keep your debt-to-income ratio below 40% when you’re applying for a loan with Alliant Credit Union, but don’t assume you won’t be approved — 19.1% of borrowers with a DTI greater than 43% still qualified for a home loan in 2024.
How to apply for an Alliant Credit Union mortgage
1. Choose your loan type
Go to AlliantCreditUnion.org and select “loans” and then “mortgages” from the drop-down menu.
2. Get prequalified
When you click on the “Get prequalified now” link on the Mortgage page, you’ll be prompted to create an online account. After you create an account online, you can apply for a prequalification letter. An Alliant loan officer will then contact you about the next steps.
3. Submit a loan application
When you’re ready to begin a loan application, click the “Apply Now” button to start the preapproval process — be prepared for the lender to perform a hard credit pull, which may slightly lower your credit score for a short period.
If you are preapproved for a home loan, Alliant allows you to lock in your rate for up to 90 days on purchase and refinance loans.
Find out more about how to apply for a home loan.
- Identification
- Tax documents
- Two to three months’ worth of bank statements
- Pay stubs (from the past 30 days)
- Debt and asset statements
- Gift letters (if you’re using gifted funds)
Is it safe to get prequalified with Alliant Credit Union?
Alliant Credit Union does a soft credit pull when you apply for prequalification, but you will get a hard pull on your credit report when you apply for a preapproval from the lender.
The upside? If you are preapproved, you can lock in a mortgage rate with Alliant Credit Union for 90 days for a purchase or refinance loan.
Alliant Credit Union’s customer service experience
Alliant’s customer service is available 24/7 by phone, and you can also chat live with a representative through Alliant’s website.
- Phone for U.S. customers: 800-328-1935
- Phone for international customers: 773-462-2000
As a digital-only credit union, Alliant does not offer in-person customer service. However, 24/7 availability via phone and live chat is an advantage compared to lenders that only operate customer service lines during business hours.
How does Alliant Credit Union compare to other lenders?
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| LendingTree’s rating |
Expert review from LendingTree.
Back to our Alliant Credit Union summary |
Expert review from LendingTree.
Read our Alliant vs. PenFed comparison |
Expert review from LendingTree.
Read our Alliant vs. SoFi Bank comparison |
| Minimum credit score | Not specified | Typically 620 | 600 |
| Minimum down payment | 0% to 5% | 0% to 3.5% | 0% to 10% |
| Rate spread
Rate spread is the difference between the average prime offer rate (APOR) — the lowest APR a bank is likely to offer any private customer — and the average annual percentage rate (APR) the lender offered to mortgage customers in 2024. The higher the number, the more expensive the loan.
| 0.35% | 0.72% | 0.74% |
| Loan products and programs |
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| Better for: | Borrowers who want a variety of options for low-down-payment loans, don’t mind an all-digital experience and are open to joining a credit union. | Borrowers who want access to a hybrid online and in-person service and a full range of banking products with a credit union. | Borrowers with a higher credit profile who want an online experience with access to banking, insurance and a wide range of financial products. |
Alliant Credit Union vs. PenFed Credit Union
Both Alliant and PenFed offer a full range of home loans and other banking products, although PenFed doesn’t offer USDA loans. PenFed’s conventional loans require a minimum down payment of 3%, whereas first-time homebuyers at Alliant may be able to pay 0% down on a conventional loan in certain situations. Alliant’s rate spread is lower than PenFed’s, along with its lower origination fees and average total loan costs, according to 2024 Home Mortgage Disclosure Act (HMDA) data.
Alliant is a digital-only credit union, while PenFed operates a few dozen branches around the U.S., catering to borrowers who prefer to conduct business in person. PenFed is known for serving military members, but anyone can become a member of either credit union.
Read more in our full PenFed Credit Union mortgage review.
Alliant Credit Union vs. SoFi Bank
Alliant Credit Union and SoFi Bank are digital lenders with detailed, transparent websites that make it easy for borrowers to compare rates.
Alliant offers more loan programs with low- or no-down-payment options than SoFi, but both lenders do provide a similar range of standard home loans. The exception is for home equity loans. Alliant does not offer them, SoFi Bank does.
Alliant also has a much lower rate spread and slightly lower loan costs, according to 2024 Home Mortgage Disclosure Act (HMDA) data.
Read more in our full SoFi Bank mortgage review.
How LendingTree rated Alliant Credit Union Mortgage
LendingTree’s mortgage lender rating is based on a five-point scoring system that factors in several features, including digital application processes, available loan products and the accessibility of product and lending information.
LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half-point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs (conventional, FHA and VA). In some cases, additional information was provided by a lender representative.
Alliant’s scorecard:
⭕ Publishes rates online
✅ Offers standard mortgage products
✅ Includes detailed product info online
✅ Shares resources about mortgage lending
✅ Provides an online application
Frequently asked questions
Alliant allows you to get prequalified and preapproved and complete your mortgage application online. You can make your loan payments dashboard online, with Alliant’s mobile app.
Yes. Alliant is a legitimate credit union that’s been in operation for over 90 years. The credit union is chartered through the state of Illinois, and its deposit accounts are insured by the National Credit Union Administration (NCUA). You can view more info about Alliant Credit Union’s state licenses and registrations through the Nationwide Multistate Licensing System and Registry (NMLS) website.
Applying for a home loan with Alliant Credit Union (or any lender doing a hard credit pull) can temporarily cause a small dip in your credit score. Taking out a mortgage can also lower your credit score in the short term. However, our credit score study shows that credit scores are unlikely to drop by more than 20 points on average, and they usually recover to pre-loan levels within a year.
Alliant Credit Union has an A+ rating with the Better Business Bureau (BBB) and nearly a 3 out of 5 star rating on Trustpilot, which is based on more than 140 reviews. Most Trustpilot complaints revolve around customer service, confusion using the online portal and making loan payments.
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