Do we qualify? Navy FCU Applied

[xiownthisplacex]

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@VALoanMaster wrote:

NFCU is notorious for being conservative (read: tougher guidelines for credit scores/history) so now that you've seen their rates & fees, you should have two reasons to steer clear of them.

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I can see that, their no PMI with 5% down caught me eye and I've always heard good things about them (credit card side though) so I figured I'd give them a shot :/

[VALoanMaster]

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@xiownthisplacex wrote:

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@VALoanMaster wrote:

NFCU is notorious for being conservative (read: tougher guidelines for credit scores/history) so now that you've seen their rates & fees, you should have two reasons to steer clear of them.

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I can see that, their no PMI with 5% down caught me eye and I've always heard good things about them (credit card side though) so I figured I'd give them a shot :/

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Yeah a lot of people get "hooked" by that but it's a lie. You are paying PMI one way or another because it protects the LENDER (NFCU) in the event you default on the loan.

[xiownthisplacex]

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@VALoanMaster wrote:

Yeah a lot of people get "hooked" by that but it's a lie. You are paying PMI one way or another because it protects the LENDER (NFCU) in the event you default on the loan.

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Yes very deceiving I can see now  I'll what they say in the following days, but I am working with another company as well that was referred by a member here.

[xiownthisplacex]

Found out our scores, middle were 756 for me and only 624 for fiance.

Removing her would bring the rate down to 4.875% with no points and no origination fee. Considering there is no need for PMI, is this rate good?

[VALoanMaster]

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@xiownthisplacex wrote:

Found out our scores, middle were 756 for me and only 624 for fiance.

Removing her would bring the rate down to 4.875% with no points and no origination fee. Considering there is no need for PMI, is this rate good?

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did they say it was 4.875% with no PMI?

[xiownthisplacex]

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@VALoanMaster wrote:

did they say it was 4.875% with no PMI?

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Yes I asked him, he said because I am doing conventional with 5% down payment that there would be no PMI.

[VALoanMaster]

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@xiownthisplacex wrote:

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@VALoanMaster wrote:

did they say it was 4.875% with no PMI?

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Yes I asked him, he said because I am doing conventional with 5% down payment that there would be no PMI.

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a conventional loan with less then 20% down requires PMI......

[xiownthisplacex]

That's what their website says and I asked him 3 times about it lol

[Anonymous]

My wife applied two weeks ago and got approved for 4.125% with 0 points. Only putting down 18% and no PMI. Easy process so far.

[Anonymous]

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@VALoanMaster wrote:

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@xiownthisplacex wrote:

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@VALoanMaster wrote:

did they say it was 4.875% with no PMI?

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Yes I asked him, he said because I am doing conventional with 5% down payment that there would be no PMI.

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a conventional loan with less then 20% down requires PMI......

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I thought it was not required if they keep the loan.