Reply
Established Member
Posts: 27
Registered: ‎09-02-2007
0

USAA rules (Once again!!)

[ Edited ]
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
Too many good docs are getting out of the business. Too many OB-GYNs aren't able to practice their love with women all across this country." --President George W. Bush
Highlighted
Super Contributor
Posts: 8,362
Registered: ‎09-28-2007
0

Re: USAA rules (Once again!!)

Established Member
Posts: 27
Registered: ‎09-02-2007
0

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).  
Too many good docs are getting out of the business. Too many OB-GYNs aren't able to practice their love with women all across this country." --President George W. Bush
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.