Gain Federal Credit Union Refinance Approved

[Creditaddict]

I had to send most of my life to them since I'm self-employed but finally after 8 emails and a phone call it was approved!

I went from 14.9% with Capital One on 72 months to 3.59 on 60 months. My payment dropped $110!

[AllZero]

Congratulations on your approval!

[Anonymous]

Congratulations on the refinance at a significantly better rate.
Going forward I wouldn't even bother telling a Credit Union you're self employed. I've yet to come across one that makes loan funding or credit card applications easy for someone that is. They'll usually request past two years of tax returns. I always list my business name, myself as a manager and it's as easy as sending over a copy of my ID and the refinance is finalized.

[Creditaddict]

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@Anonymous wrote:
Congratulations on the refinance at a significantly better rate.
Going forward I wouldn't even bother telling a Credit Union you're self employed. I've yet to come across one that makes loan funding or credit card applications easy for someone that is. They'll usually request past two years of tax returns. I always list my business name, myself as a manager and it's as easy as sending over a copy of my ID and the refinance is finalized.

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I agree! I never say I'm self-employed but upon income verification being requested then it changes!

[pizza1]

Thats fantastic CA!!! YAY, congrats! What an accomplishment!

[Anonymous]

@Creditaddict I am thinking about joining them and requesting a credit card but am self-employed also. What all did they ask you to send in? 

[Creditaddict]

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@Anonymous wrote:

@Creditaddict I am thinking about joining them and requesting a credit card but am self-employed also. What all did they ask you to send in? 

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I first joined years ago when it was Burbank credit union and I drove for Uber and lift and they used my weekly statements to establish my income.

fast forward now I'm in a different business they used tax returns bank statements and loan receivable statements to establish income.

I'll send anything and everything if someone is willing and seems to know what to look for.

just personal taxes usually is worthless because of losses but if they will combine it with business too we can start to get somewhere!

only a couple employees that you work woth and once you have 1 depending on loan, you are only dealing with them so it's a bit easier and not have things lost in translation!!

[Anonymous]

Hmm, I applied with Unify and they wanted my taxes with my schedule C showing business income for a $2500 line then got denied because of my losses and net income from business. Tried PenFed they also pre-approved then ended up denying me due to length of time accounts established and because of inquiries but I have a BK only showing on Experian. Might try my luck with PACU. Appreciate the info. 

[snickerpedia]

Congratulations!! 

any data points about joining gain Fcu?? Hard or soft pull?? Chex systems/sensitive??

[Creditaddict]

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@snickerpedia wrote:

Congratulations!! 

any data points about joining gain Fcu?? Hard or soft pull?? Chex systems/sensitive??

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no pull that I know of.

no chex system