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NASA FCU Rocks! CLosed Jumbo Loan in 15 days! Left NAVY & NASA Saved the day!!!

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NASA FCU Rocks! CLosed Jumbo Loan in 15 days! Left NAVY & NASA Saved the day!!!

I do not see many threads about NASA Federal BUT THEY ROCK!  I left Navy FCU after being approved for their 100% Jumbo program for $555K.  I had a tight deadline as my contract was 8/30 and I went under contract 8/4.  Navy said they would TRY and meet the date but would not promise...  They were very frustrating to work with and almost IMPOSSIBLE to get my LO.  

 

Long story short, I decided to give NASA a stab at the loan and went to them on 8/15 and the SAME day I received my approval letter as my LO went in to action quickly!  She wanted me to have access to her and make sure that I had ALL of her contact information for easy access. My LO took my application as a NASA "challenge" (in a good way) and said we CAN and WILL do this even though it meant NASA FCU had approximately 2 weeks to go from an approval to underwriting to closing.  My LO immediately contacted her Manager on 8/15 to let him know we needed to expedite processing (if possible) and the Manager was "all in".  I quickly sent over all of the requested information (stubs, w2's, bank statements, etc,) that I had readily available from my NAVY process.  They immediately requested an expedited appraisal, which came in at $5K over contract price (so, I have a 100% jumbo loan WITH equity...sweet).  My NASA LO was AWESOME --- ALL HANDS WERE ON DECK!  My loan remained in processing/underwriting for less than 48 hours with NO additonal questions - the underwriter said we can make this happen by the close date.  I can go on and on and on and on about how wonderful this experience with NASA was for me.  Long story short, I closed on my home on 8/30!!!!  NASA your rock.  Navy - please work on your customer service skills as you have a competetor who is AWESOME!   

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Senior Contributor

Re: NASA FCU Rocks! CLosed Jumbo Loan in 15 days! Left NAVY & NASA Saved the day!!!

First welcome to the forum. 

 

I'm glad to hear you managed to get a super quick approval on your new mortgage through NASA FCU - I think this is the first "mortgage" I've seen on MyFico through NASA FCU. 

 

Generally expecting a lender, any lender to approve, appraise and fund a loan in 2 weeks or even in less than 30 days is not an easy task - Jumbo loans tend to get a little more scrutiny as far as checking all the boxes. I will also say that I did a refi through NFCU which closed at the end of March (2018) - our LO and experience was excellent.

 

Again, congrats on your new home and mortgage Smiley Wink

Message 2 of 4
New Member

Re: NASA FCU Rocks! CLosed Jumbo Loan in 15 days! Left NAVY & NASA Saved the day!!!

Thanks for posting about your experience.  I am currently applying with NFCU for their 100% jumbo program.  It is going a little slow, but my circumstances are unique so patience is warranted.  I am planning to eventually apply with NASA to comparison shop, though.

 

Does anyone know of other 100% jumbo financing available in Virginia?

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New Visitor

Re: NASA FCU Rocks! CLosed Jumbo Loan in 15 days! Left NAVY & NASA Saved the day!!!

I am also going to apply for a jumbo loan in January. Are Navy Federal Credit Union and BNY Melon the best option for 0% and 5% down? My credit score is 740+ and DTI are well within limits. Looking at a house in the $550k range in TN.

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