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DCU Refinance Approval with DP's

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DCU Refinance Approval with DP's

With all of the good reviews about DCU I went ahead and refinanced my vehicle with them as of today. My old loan was at a 8.7% interest rate and the new loan is at 4.99%. They offered 4.49% if I did direct deposit but I work for a small company and they don't offer that. They pulled Experian which was at exactly 700. Very happy with the new terms and building a relationship with DCU.




Message 1 of 9
8 REPLIES 8
Community Leader
Super Contributor

Re: DCU Refinance Approval with DP's

Congratulations on your refinance there!

Message 2 of 9
Frequent Contributor

Re: DCU Refinance Approval with DP's

That’s weird dcu always pulled Equifax 5 mortgage score how certain are you they pulled Experian?
Message 3 of 9
Senior Contributor

Re: DCU Refinance Approval with DP's


@mmajer4211 wrote:

With all of the good reviews about DCU I went ahead and refinanced my vehicle with them as of today. My old loan was at a 8.7% interest rate and the new loan is at 4.99%. They offered 4.49% if I did direct deposit but I work for a small company and they don't offer that. They pulled Experian which was at exactly 700. Very happy with the new terms and building a relationship with DCU.


Congrats, but are you sure they pulled Experian? I've never known them to pull anyone but Equifax.

Your small company employer doesn't offer direct deposit??? So they still pay by paper check?


Fico 08: 734/716/734 TU/EX/EQ
Message 4 of 9
Contributor

Re: DCU Refinance Approval with DP's

 


@DaveInAZ wrote:

@mmajer4211 wrote:

With all of the good reviews about DCU I went ahead and refinanced my vehicle with them as of today. My old loan was at a 8.7% interest rate and the new loan is at 4.99%. They offered 4.49% if I did direct deposit but I work for a small company and they don't offer that. They pulled Experian which was at exactly 700. Very happy with the new terms and building a relationship with DCU.


Congrats, but are you sure they pulled Experian? I've never known them to pull anyone but Equifax.

Your small company employer doesn't offer direct deposit??? So they still pay by paper check?


UPDATE!! You guys are correct, they pulled Equifax. I was mistaken because I got the alert through Experian. Sorry about that!! And yes my company still does paper checks. It's a complete hassle.




Message 5 of 9
Regular Contributor

Re: DCU Refinance Approval with DP's

OP, may I ask what documentation, if any was required? Thanks.
Current Scores as of 8/18/17 all FICO 8 EQ: 695 EX: 673 *fico2 699 TU:645 bio has more.
Message 6 of 9
Contributor

Re: DCU Refinance Approval with DP's


@rprisco wrote:
OP, may I ask what documentation, if any was required? Thanks.

I had to send in a recent pay stub (within 60 days) and also a copy of my drivers license. It didn't need to be my drivers license but some sort of government issued ID for address verification I believe. Overall it was a pretty easy process. It did not take long for them to approve. The only thing that took a while was the approval for memebership. I applied on a Friday afternoon and apparently they work banker hours and did not approve the membership until Monday morning. LOL. I found it odd they approved the loan so quickly, same day, but not the membership.




Message 7 of 9
Regular Contributor

Re: DCU Refinance Approval with DP's

Congrats on the refi!!

Starting Fico: 1/5/2017
EQ: 617 TU: 622 EX: 604
Current Fico: 08/28/19
EQ: 735 TU: 777 EX: 702


Citi Double Cash $2550 | WF Platinum $1.3K | Barclays Ring 2k | Cap One Quicksilver 6K
NFCU AMEX 9.4K | Navy CLOC $10k | Discover IT 2.7K
Message 8 of 9
Regular Contributor

Re: DCU Refinance Approval with DP's

Congrats... How long ago did you get your original loan, and what was your score then (if you remember)?

Message 9 of 9
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