DCU Refinance?

[Anonymous]

Hi all

My wife has a nearly perfect credit report. The only neg is a NYS Sales and use Tax lien which was paid within the same month it was issued. She has a score of 700+ but was wondering if the lien was affect our chances of refi approval through DCU?

[09Lexie]

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@Anonymous wrote:

Hi all

My wife has a nearly perfect credit report. The only neg is a NYS Sales and use Tax lien which was paid within the same month it was issued. She has a score of 700+ but was wondering if the lien was affect our chances of refi approval through DCU?

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Has she financed a car before? The tax lien is paid and it shouldn't be the main reason for denial assuming the other qualifications have been met. 

[Anonymous]

DCU and other CU will look at  your score as well as other factor. Depending how thick or thin is your wife tradeline, most likely she will get approve with that score, however if she have a thin tradeline and doesnt have atleast 2years of age credit they might denial. Depending on the loan officer.

[Anonymous]

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@09Lexie wrote:

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@Anonymous wrote:

Hi all

My wife has a nearly perfect credit report. The only neg is a NYS Sales and use Tax lien which was paid within the same month it was issued. She has a score of 700+ but was wondering if the lien was affect our chances of refi approval through DCU?

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Has she financed a car before? The tax lien is paid and it shouldn't be the main reason for denial assuming the other qualifications have been met. 

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Thanks Lexie. I'm sorry for the delayed response but I overlooked this posting. She's had credit cards for the past few years, so yes. Also we currently are financing at 6% through Chryslter financing. We've made 6-7 full on-time payments with them so far... when we purchased the car we planned on switching to a good credit union. There's a new CU that opened in our area locally. Its been open for about 8 months now and they plan on accepting people in the area but for now only accepting Coned (city) workers.

Every other decent CU in our area only accepted city workers, etc so I thought I was out of luck until asking on the forum a few people suggested DCU? Would you say we go with them or another company? We live in NY.

[Anonymous]

Prior to this currently financed vehicle, we never financed before though. This is our first finance which we're trying to refi.

[Anonymous]

Actually, don't know if it makes a difference but we did have a brand new motorcycle financed through Yamaha which was paid in full last year. No missed/late payments. That was under her name as well.

[sccredit]

My bet would be that you are good for at least a DCU approval.  

[Anonymous]

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@sccredit wrote:

My bet would be that you are good for at least a DCU approval.  

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Thank you! That's good to know. And what do you need to qualify for DCU membership, do you know?

[Anonymous]

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@09Lexie wrote:

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@Anonymous wrote:

Hi all

My wife has a nearly perfect credit report. The only neg is a NYS Sales and use Tax lien which was paid within the same month it was issued. She has a score of 700+ but was wondering if the lien was affect our chances of refi approval through DCU?

---

Has she financed a car before? The tax lien is paid and it shouldn't be the main reason for denial assuming the other qualifications have been met. 

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Hi Lexie. Could you share your thoughts on this? We're currently paying down all of our cards before we apply just to be 100% sure so we have about a month or so.

[Anonymous]

I'm hoping to also try to get this lien removed from her report. She didn't end up owing anything close to what they projected.