topic Re: Navy Federal Credit Union Mortgage Appeal in Mortgage Loans

Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 09 Jun 2020 14:42:57 GMT

Has anyone had experience with the appeal process for a mortgage loan through Navy Federal?

Re: Navy Federal Credit Union Mortgage Appeal

VALoanMaster — Tue, 09 Jun 2020 16:18:42 GMT

@Anonymous wrote:
Has anyone had experience with the appeal process for a mortgage loan through Navy Federal?

Hi @Anonymous ,

Did they deny your loan? What type of loan did you apply for?

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 09 Jun 2020 16:29:15 GMT

Unfortunately, yes. Reason was Serious Delinquency with others. My last late payment was 2 years ago. I appealed and wrote a letter explaining the reason for the late.

Re: Navy Federal Credit Union Mortgage Appeal

VALoanMaster — Tue, 09 Jun 2020 17:14:29 GMT

@Anonymous wrote:
Unfortunately, yes. Reason was Serious Delinquency with others. My last late payment was 2 years ago. I appealed and wrote a letter explaining the reason for the late.

@Anonymous

What type of loan did you apply for? Was it VA, FHA or conventional?

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 09 Jun 2020 17:20:49 GMT

Conventional 100% financing Military Choice Loan 30 year term

Re: Navy Federal Credit Union Mortgage Appeal

VALoanMaster — Tue, 09 Jun 2020 17:32:26 GMT

@Anonymous wrote:
Conventional 100% financing Military Choice Loan 30 year term

At a time when lenders have tightened up their guidelines, I wouldn't really expect a lender like NFCU to make an exception.

It will probably boil down to how the rest of your credit history looks & how good your LOE is.

Good luck.

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 09 Jun 2020 17:35:26 GMT

Thank you for your insight!

Re: Navy Federal Credit Union Mortgage Appeal

VALoanMaster — Tue, 09 Jun 2020 17:58:05 GMT

@Anonymous wrote:
Thank you for your insight!

@Anonymous ,

You're welcome.

Is FHA an option for you?

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Thu, 11 Jun 2020 18:03:08 GMT

Yes, FHA is a possible option. But I wanted to give an update on my appeal. After submitting my appeal I received a call the next day from NFCU approving my loan application and now we are on moving with the mortgage loan process. Thank you again!

Re: Navy Federal Credit Union Mortgage Appeal

VALoanMaster — Thu, 11 Jun 2020 20:23:42 GMT

@Anonymous wrote:
Yes, FHA is a possible option. But I wanted to give an update on my appeal. After submitting my appeal I received a call the next day from NFCU approving my loan application and now we are on moving with the mortgage loan process. Thank you again!

Congrats!!!!

Re: Navy Federal Credit Union Mortgage Appeal

skizzo82 — Fri, 12 Jun 2020 06:02:42 GMT

If you don't mind can you share your credit profile, like your mortgage scores? Thank you. I am currently in the hands of underwriting.

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Fri, 12 Jun 2020 06:16:48 GMT

Sure, my middle score was a 687. I don't have a huge credit history. I have a few student loan lates from 2014, one credit card late in 2018, a paid charge off that is due to fall off soon. I have 3 credit cards that total $3,075. MoneyLion credit builder. And a few personal loans that I had in the past that are paid off with no lates. Hope that helps!

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 16 Jun 2020 01:15:19 GMT

I wonder if it's worth my while to file an appeal they denied my mortgage loan for a bankruptcy?? She said guidelines said 7 years

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 16 Jun 2020 01:32:09 GMT

I'd say give it a shot. Because it gives you a chance to explain the negative on your credit report. It all just depends if you want to take the time to write up the appeal or just wait til the 7 year mark.

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Wed, 17 Jun 2020 01:41:54 GMT

@Anonymous

Wow congrats on the appeal and good luck, hope you get the loan approval!!!

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 18 Aug 2020 12:57:55 GMT

Congrats

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 18 Aug 2020 13:31:26 GMT

Thank you everyone! Just a final update.... I closed on my home July 21st! For words of encouragement don't be discouraged over a denial. It is possible for it to be overturned through the appeal. I wish you all the best 😊

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Sun, 13 Sep 2020 00:47:18 GMT

Does the same guide lines apply for a Short Sale?

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 13 Apr 2021 18:29:27 GMT

Congrats on your appeal & home purchase.

Could you indicate whether you used NFCU's RealtyPlus Realtor or chose a Realtor from the outside on your own during this process with NFCU?

Re: Navy Federal Credit Union Mortgage Appeal

Anonymous — Tue, 13 Apr 2021 19:17:45 GMT

Hello and thank you! I used my own realtor during my home loan process with NFCU.