topic Re: PenFed Personal Loan Approved for DW! in Personal Finance

PenFed Personal Loan Approved for DW!

tcbofade — Sat, 29 Aug 2020 14:21:22 GMT

Happy Dance!

$20k at 12.99% for 60 months!

She applied last weekend, they DID ask for POI, and they did allow her to use household income, so we sent them her last two paystubs and mine. Got the approval text on Thursday, logged in to her PenFed and esigned documents. They are mailing her a check for $20k. As of this morning, the new loan account is showing on her account page.

We haven't received any documentation yet, but her EQ9 score as of earlier this month was 712. Six inquiries, 22% utilization.

As some of you know, I'm preparing to refinance a mortgage next year and part of our strategy is to move some debts from my credit profile to hers. We'll be paying off MY personal loan ($18k left on a $25k note at 17.99%) with the new loan.

Saves us nearly $200 per month AND greatly improves MY DTI.

Gawd, I love two player mode!

Re: PenFed Personal Loan Approved for DW!

Credit4Growth — Sat, 29 Aug 2020 14:54:36 GMT

Smart!!.. keep working tour plans

Re: PenFed Personal Loan Approved for DW!

AllZero — Sat, 29 Aug 2020 15:42:14 GMT

Congratulations on DW approval!

Re: PenFed Personal Loan Approved for DW!

blindambition — Sat, 29 Aug 2020 16:18:09 GMT

It's always nice when a plan comes together! Congrats to you and DW!!

Re: PenFed Personal Loan Approved for DW!

M_Smart007 — Sat, 29 Aug 2020 17:16:33 GMT

Congratulations on your/DW Approval..

Re: PenFed Personal Loan Approved for DW!

Remedios — Sat, 29 Aug 2020 20:58:48 GMT

@tcbofade Congrats

New kitten and new, better loan. All is as it should be!

Re: PenFed Personal Loan Approved for DW!

Adkins — Mon, 31 Aug 2020 14:54:18 GMT

Congratulations!!

Re: PenFed Personal Loan Approved for DW!

tcbofade — Mon, 31 Aug 2020 23:51:52 GMT

Check got here today!

That was fast!

Re: PenFed Personal Loan Approved for DW!

M_Smart007 — Tue, 01 Sep 2020 00:52:02 GMT

@tcbofade wrote:
Check got here today!

That was fast!

Truly Fast!

Mine had sat in a envelope for 10 days ..before I realized what it was

Re: PenFed Personal Loan Approved for DW!

blindambition — Tue, 01 Sep 2020 01:18:59 GMT

@M_Smart007 wrote:
@tcbofade wrote:
Check got here today!

That was fast!
Truly Fast!
Mine had sat in a envelope for 10 days ..before I realized what it was

Must be nice, have a check that large just lying around, and not missing it. 😉🤣😃

Re: PenFed Personal Loan Approved for DW!

Anonymous — Tue, 01 Sep 2020 01:43:00 GMT

Congrats!!

Re: PenFed Personal Loan Approved for DW!

tcbofade — Wed, 02 Sep 2020 11:49:14 GMT

Got the letter yesterday.

Her EQ9 was 715 on the day that they pulled it.

Re: PenFed Personal Loan Approved for DW!

Mv350 — Wed, 02 Sep 2020 14:11:41 GMT

Woot Woot!

Very nice Taco!!!

Re: PenFed Personal Loan Approved for DW!

M_Smart007 — Wed, 02 Sep 2020 14:16:18 GMT

@Mv350 wrote:
Woot Woot!

Very nice Taco!!!

Was wondering where @Mv350 was?

Re: PenFed Personal Loan Approved for DW!

importxpresions — Wed, 09 Sep 2020 13:31:22 GMT

Two incomes , when done right, is awesome 😎

Re: PenFed Personal Loan Approved for DW!

randomguy1 — Wed, 09 Sep 2020 14:47:52 GMT

Congrats with the Personal loan approval for the DW! Good luck with your mortgage "prep."

Re: PenFed Personal Loan Approved for DW!

tcbofade — Wed, 09 Sep 2020 19:58:27 GMT

@randomguy1 wrote:
Congrats with the Personal loan approval for the DW! Good luck with your mortgage "prep."

So far so good.

The new car wasn't in the plan, but doesn't mess us up, either... we're still carving on some balances and shifting some things around, but I should be 720+ by the end of 2020, and hope to break 740 in early February.

We shall see.

Re: PenFed Personal Loan Approved for DW!

cashorcharge — Thu, 10 Sep 2020 18:36:38 GMT

Congrats to DW! That's awesome!

Re: PenFed Personal Loan Approved for DW!

Anonymous — Tue, 10 Aug 2021 23:43:19 GMT

Hello! I know this is old thread but I am attempting this same thing! I received an email to upload docs & I then called a askeds about household income. The rep on the phone put me on hold then came back and a said I would have to re apply agin with hubby. Did you just upload your docs or did you actually ask someone? Any tips?

Re: PenFed Personal Loan Approved for DW!

tcbofade — Wed, 11 Aug 2021 08:08:13 GMT

Hello. We applied online, and when filling out the application it was very clear that she was to use household income. When they requested POI, we sent them her last two paystubs and mine.

Send them documentation of whatever income you claimed when you filled out the application.

If that was just yours, send that. If it was yours and someone else in your home, send both.

Good luck!