Will I Qualify?

[Anonymous]

Today was the day I pulled the trigger, I am very HP shy but I needed to know. I app'd with DCU, PenFed, and APL; if you were an underwriter would you approve me for a loan?

Credit Score: EX 686 | EQ 692 | TU 694

AAoA: 14 months

# of positive trade lines: 5

# of negative trade lines: 0

Income: $92,500.00

Lenght of Employment: 10 years 1 month

Previous Loan Experience: Self Lender 100% on time payments

Debt-to-Income (DTI):  7.78%

Amount Requested: $34,638

Make: Lexus

Model: LS 460 F-Sport

Year of Car: 2013

Miles: 69346

Purchase/Refinance: Purchase

Requested loan term (XX Months): 72 - 84

Down payment amount: $0

Co-borrower/Co-Signer: N/A

Loan-to-Value: 92.42% (Clean NADA Retail) | 106% (Clean NADA Trade In)

Other: I will pay a minimum of an extra $150 month on the car payment, I requested longer terms to account for unforseen events. No baddies on credit report, substantial savings, and Federal employee for over 10 years.

So what do you guys think?

[marty56]

Take a copy of your credit report and go to a local CU.  They may give you an idea without pulling your CR and if not it is worth a shot.  Also being pre approved will make dealing with the dealer much easier.

[AppHappyTog]

I would think you should be fine- penfed will pull your EQ 9, not sure on the other lenders. I just financed with penfed for $28k for 4.49% with a previous repo on my report and $90k income and had zero issues whatsoever.