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@Anonymous wrote:
Hi all
Yesterday I applied For an auto loan with penfed, only asked for 12000 loan, but after putting all my information, the screen come back with "decision is pending with a loan officer", is this good or bad??
After that I set up my membership and Was instant approved.
my eq score is 763 but I have low aaoa only 1.2 years and short credit history 1.9 years.
Should I wait or call them ??
Thanks
Just give them a call during regular business hours. My best guess is you're more than fine. Give the loan officer a chance to go over your info tomorrow.
Being that its a holiday weekend. Probably not anyone around to approve the loan. You can also App for other products on that same credit pull for 90 days.
my income is too low, so they sent me an email asking if i want to add more income, so i call and asked if i can add my foreign income, now the application status, say that i need to upload my 2 more recent pay stubs, but my problem is that i'm self employed, can i send them my 2 more recent bank statemens??
They are asking too my purchase order, but i don't have it yet.
what should i do???
@Gmood1 wrote:
@Anonymous wrote:
Hi all
Yesterday I applied For an auto loan with penfed, only asked for 12000 loan, but after putting all my information, the screen come back with "decision is pending with a loan officer", is this good or bad??
After that I set up my membership and Was instant approved.
my eq score is 763 but I have low aaoa only 1.2 years and short credit history 1.9 years.
Should I wait or call them ??
ThanksJust give them a call during regular business hours. My best guess is you're more than fine. Give the loan officer a chance to go over your info tomorrow.
Being that its a holiday weekend. Probably not anyone around to approve the loan. You can also App for other products on that same credit pull for 90 days.
I am in the same boat! I applied today, though. I went through the set up for memership. I called and was told that the loan officer needs to review it. I purchased a home recently and put down a huge chunk....so instead of buying a car in cash, I am financing one for the first time ever!
What is your income if you do not mind me asking? I am only requesting 25k loan so hoping my income is more than sufficient (which I am pretty sure it is)
@Anonymous wrote:
This is my First auto loan too, my income is only 25k on 2015 because I Was overseas almost 6 months, that's why I have foreing income too.
So I don't know If my bank statements are valid as proof of income
Providing bank statements for foreign income will definitely help, just make sure you let them know. Good luck! And let me know how it goes. I am still waiting to hear from them. I have one prequal so far from Cap One, so this app was my second one.
That's weird normally when you apply for loan. They will ask you the amount you want and they see if they can approve you for amount. If they can't they will give you max amount they can approve you for. After you get the approval you can go shopping with it. Not other way around