Based in North Liberty, Iowa, GreenState Credit Union is a standout for its borrower-friendly mortgage products. With lower-than-average fees and competitive rates, this credit union makes home loans more affordable, giving its members a strong financial advantage compared to many traditional banks.
See today’s mortgage interest rates on TrueRate.
How GreenState Credit Union compares to other lenders
| Headquarters | North Liberty, Iowa |
| Website | greenstate.org |
| Rate | 0.10% lower than the median rate |
| Lender fees | $725 (median on GreenState loans) |
| Savings after 1 year, compared to the median interest rate | $685 |
| Savings after 10 years, compared to the median interest rate | $3,504 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,893 |
| Added cost 10 years (vs. Tomo Mortgage) | $7,680 |
For a $400,000 mortgage, GreenState’s rates—about 0.10% below the market median—and $725 in lender fees would result in estimated savings of approximately $685 in the first year compared to the typical lender and over $3,500 after 10 years. Borrowers should compare GreenState with other low cost lenders such as Tomo Mortgage, to see if doubling their savings could be possible, and ensure the most competitive mortgage.
What customers are saying
Customer reviews of GreenState Credit Union’s mortgage services, as seen on platforms like Yelp, BBB, and Reddit, are predominantly negative with occasional positive feedback.
Some borrowers praised GreenState for offering competitive mortgage rates and a variety of loan products. Customers noted smooth transactions during refinancing and appreciated the convenience of local branches. A few reviewers highlighted helpful loan officers who provided clear communication and guidance during the mortgage process.
Complaints frequently mention poor customer service, hidden fees, and operational inefficiencies. Issues include undisclosed loan insurance charges, delays in processing payoff requests, and errors in paperwork that caused financial problems for borrowers. Borrowers also reported frustrations with communication gaps, such as never receiving pre-approval letters or timely responses to inquiries. Additionally, some reviewers expressed dissatisfaction with GreenState’s handling of manufactured home loans, citing negligence that led to extra costs.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.