08-16-2012 11:20 PM
Yes, I've had great experiences with them.
If you want to do a refi, you can do it a few ways. You can apply online, if you like the rate, you can then open an account and then finalize on the loan. In order to finalize, they'll need -
- 10-day payoff and account # from current lender
- Power of Attorney to transfer title signed by you and whoever else is on the title
- Proof of Insurance
- Copy of your Drivers License
- Registration (proof that it's not expired, unless you go into a branch they can manually see this)
- Sometimes they will need VOI (verification of income) which will be the last two paystubs. This isn't always required, and is a case by case basis, but most accounts and applications submitted online, they will end up needing this. Just varies.
As long as your CS is above 700, you'll receive the lowest rate possible, which is 2% if you apply over the phone or in a branch, and 1.9% if you apply online. That rate is good up to 60 months, if you need to go longer than 60 months, the rate will increase accordingly.
08-18-2012 08:38 PM
Thanks for the info. I actually got the approval from them today. I have a 702 according to them on TU. They gave me a 2.4% rate for 60 months on the refi
for $31,600. This is awesome because I am going from an 84 month 7.99% loan that I have been paying on for roughly 15 months. So I am trimming the term by some months and saving about $30 a month so its a win win. I am also going to get the gap insurance as well. She said I had to have a 740 at least to get the 1.9% rate.
I am happy with the 2.4% rate, for a 40 point difference I think that is fair.
They did ask for VOI which I provided. They verified that and all is well on that. They sent me an email with some docs including the power of attorney and the info almost verbatim to what you wrote. Thank you for your info. I am so glad I got that loan.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.