Member
Panda2108
Posts: 11
Registered: ‎10-03-2012
Re: NFCU Pre Approval????

Hello! This could be a great thing, but a word of caution:  It may not be all it's cracked up to be!

 

Not all pre-approvals end with a closing. My FH was pre-approved by NFCU with a midscore of 740. Then we got assigned a loan officer and made an offer and got the house under contract. We went to submit the final packet for underwriting, and they ended up saying that he couldn't qualify by himself for income reasons, then I had to be put on the loan. In the end, they denied us because my scores (a 619, 645, and 658) while within parameters, were not as "high" as they'd like to see.  Then again, our loan officer dropped the ball on a few parts of the application. So I would definitely make sure you get a good, involved loan officer that will keep you in the loop, and then take it from there. If all else fails with navy fed, try someone else!

 

Good luck!

Current: 619, 642, 658
Goal: 700 club