Folks who have applied or closed with Navy Federal (NFCU)

[BeingMaryJane]

I'm currently looking at them to do my home loan. My middle score currently is 680 from EQ score power which is the one I think that matches what lenders pull. I was trying to wait for balance updates to get me closer to 700 or even above.  The home I want to make an offer on just decreased their price 10K. I really want to push the button now, but I'm wondering if I should wait until the reports update which could possibly be the middle of February or later. I know NFCU will only pull credit once, so if I should just wait to save some basis points I will. 

Can you guys who've been through the process tell me what your score was at application, what rate you received, and the loan product? I'm interested in the 5/5 arm, but may also want to see how the homebuyers choice mortgage compares. I know the latter is a higher rate generally.

thanks! It's kind of hard finding any info about their approval process, sometimes the folks who go through it don't come back and close the loop.

[frugalQ]

are you sure your middle score is 680?  have you had a lender pull all 3 scores?  the reason I ask is because 680 could be your lowest score.  I wouldn't rely on any of the TU and EX scores bought here or other places.  They are not the versions mortgage lenders use, and can differ greatly from your actual mortgage scores.

In a lot of cases EQ is usually the lowest score of the 3.

also, most lenders can do a rapid rescore at any point during your mortgage process.

[Anonymous]

I agree with @ Frugal@.The scores you see @ myfico have little or no bearing on the scores the Mortgage vendors have. In my case, we were talking of almost 50 point drops in ALL scores with TU Been a complete opposite Top highest MYFICO to lowest in lender pull

[BeingMaryJane]

 Well I didn't want to have any pulls before NFCU as to not lose any points. Historically for me EX has always been the worst it has old items that the other two don't have. TU is usually my highest and always in the low 7's per all the reports you can purchase or receive (myfico, Barclays, Walmart). I guess I won't know that until they pull but it's def TU and EQ for top and middle.

[BeingMaryJane]

Now this spooks me a little. I did have a broker pull last year when I first started thinking about a mortgage but I hadn't done any cleanup and my scores were all low sixes..with the same order though TU, EQ, EX.

[frugalQ]

I'm one who believes that if your reports have been cleaned up to your satisfaction and your next credit step is to purchase a home, it's better to go ahead and have a lender pull your scores to see where you are...and work from there.  using other score versions to guestimate where you stand is fruitless.

your mortgage inquiries are grouped and scored as 1 as long as they are within a 2 week - 30 day window.

in your case, you have a house you are interested in.......it may not be there come mid-feb if you wait to have a lender pull your scores.  With lenders having the ability do rapid rescores, it makes more sense to know exactly where you are now.  even if you have Navy Fed start the process, it does not mean that you have to continue and close with them. Technically, you have 2 weeks to 30-days to make the final decision.

[Anonymous]

Breaking news

http://ficoforums.myfico.com/t5/General-Credit-Topics/More-scores-from-myFICO-aka-best-consumer-frie...

[frugalQ]

OP, per the link above, you can now view your mortgage FICO for EX and EQ. This is perfect timing for you!!

[BeingMaryJane]

I know I saw!! However dumb me forgot I can't pull with EX on ice and it required me to call in... They closed at 9 p.m. EST.. Now I have to wait until Monday... I'm dying! I was only gonna pull EX because I know EQ and TU is not available.

[BeingMaryJane]

So I finally got a chance to pull.... And my low low EX mortgage score is 670!! I couldn't resist pulling EQ again.. Luckily I had another score power one left.. That mortgage one said 691!!! I'm so close! I want to wait until my balances update still. TU is always my best hovering around 700.. I'm not gonna pull it though.. Bc either way .. TU or EQ are my middle scores. 

Funny thing is that my EQ was 12 pts higher than the last score power alert  I got (fico 8). Is there a delay on it? I'm so happy they upgraded the score framework while I'm mortgage shopping!

but anyone who has NFCU experience please share! Please and thank you.