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USAA rules (Once again!!)

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Valued Member

USAA rules (Once again!!)

My wife and I were just approved for 100% financing (80/20 fixed P&I) on our new home under contract for $464K.....with no docs!!!!!! This was not a pre-approval, this was the application approval. They used our credit history (her mid 665, my mid 698) and my great standing with them to make the underwriting decision. I didnt have to submit anything, no W-2's, no income statements, not even a rental income contract for my rental property! They are the bomb!!


Message Edited by ujocka on 10-09-2007 01:32 PM
From Chapter 13 discharge and low 500s in 2015 to EQ: 781 TU: 767 EX: 794 in 2017...Make your vision your reality.
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Super Contributor

Re: USAA rules (Once again!!)

That is good stuff!  Not many lenders are doing no doc 100% loans.
Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

Information that is needed to determine if you qualify for a mortgage

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Valued Member

Re: USAA rules (Once again!!)

With the scores we have I am still quite surprised that  it went through no docs. We were fully prepared to disclose everything. We locked in @ 6.75% (80) and 8.75% (20).  
From Chapter 13 discharge and low 500s in 2015 to EQ: 781 TU: 767 EX: 794 in 2017...Make your vision your reality.
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