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Super Contributor


@Sitori wrote:


I know this thread is a little old but I just wanted to ask about the DCU approval for auto.


my EQ mortgage 5 is 576, the others are 640. I don't know why that one is so much worse but I doubt I would get approved for the auto loan with that correct? 

my fico 8 EQ is 633, others are 644 and 636. 

why do they use the mortgage 5 for auto loan? 

I'm not sure if EQ5 580 is minimum for membership or not. Best to call the csr and ask.


You can also ask what minimum is for auto loan.

Message 61 of 63
Frequent Contributor


Anyone know what the current deal with the direct deposit "relationship" discount is?  When I last had a loan in 2015, it said they required deposit of "net" pay but didn't define what it was.  I set up a $300 direct deposit from my paycheck but found they had bumped my loan rate up because I didn't deposit my entire paycheck.  Now the website no longer says "net pay" but the loan rep yesterday said I needed to deposit "net pay". 


I have to deposit $1,000 in my current checking account to maintain a 1% credit card bonus and $900 in another to pay my mortgage.  I'm hoping they consider what's left (about $600 and change) sufficient "net pay" (and not sure how they'd know unless they thought it was too small relative to stated gross income).

Message 62 of 63
Community Leader
Super Contributor


By net pay they mean your entire pay. If at some point you've provided them POI then they already have a DP to work from, but if not there are also other ways for them to estimate with pretty good accuracy your likely income range.


I can't speak to how rigidly they enforce their net pay mandate.




FICO 8 (EX) 810 (TU) 805 (EQ) 794
FICO 9 (EX) 835 (TU) 822 (EQ) 828

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Artist formerly known as ColdFusion
Message 63 of 63
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