banks vs. credit unions for loans

[Angela A.]

Anyone have opinions/experience with obtaining a conventional loan with a bank vs. credit union for rental property? Pros and Cons? Are there better interest rates or amount of loans with one vs. the other? Speed of closing? Thank you. 

[Jeff B.]

National Banks (Calif charters too) are too big to care and have huge bureaucracies to contend with.  Look for local Business banks or a Credit Union to which you can become a member.  These typically service their own loans and thus NEED your business.

Closings will be similar and rates will be competitive, but you may need to look out for 'points'.