NFCU Approval

[Anonymous]

In February after getting notice from my landlord that the rent was incrasing but they were not making any updates to the apartment, we decided it was time to stop paying rent and shoot for a mortgage. I applied with Navy Federal Credit Union in March 2019 and was Pre-Approved a week later with a FHA Loan. From Mid-March to Mid-May the toughest part was finding a home. The process was straigtforward and documents could be uploaded via the portal. I only went into the branch once to scan some documents since my printer at home was malfunctioning. We found a house $314.5k and offered $315k w/ 3% Closing Assitance. Our realtor kept saying that we couldnt get 6% Closing Assistance since it was "illegal and not sure why NFCU would tell me that I could." The sellers countered with $316k with $7k Closing. I figured we met in the middle primarily so accepted. We closed 30 days later. We also used NFCU RealtyPlus only because they offered the bonus, which was deposited into my account 2 weeks after closing. As well as NFCU Title Services. 

Overall, I would recommend NFCU, just make sure that your loan officer isnt juggling multiple roles like mine was. This made the LO only available during email. I would also recommend the RealtyPlus if for nothing more than the bonus back in the account. 

Home in is Maryland

Purchased: $316k

Appraised: $318k

FHA 30 Loan (3.5% Downpayment)

3.65% Rate 

At the end of the day I came out of pocket around $13k including appraisal, inspection, etc and receiving the bonus. 

[Anonymous]

Congrats on your new home and thanks for sharing your dp's. 

[Fico82]

Congrats on your recent purchase ! Me and the wife right now are stuck in the finding a house phase . When we finally found the one we ran numbers on a monday I told the loan lady let us sleep on it ....that night got a real bad storm and by morning that new construction house was 2-3 ft underwater . The search continues.. been thinking of nfcu . congrats again on your purchase !

[CreditInspired]

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yep@Anonymous wrote:

In February after getting notice from my landlord that the rent was incrasing but they were not making any updates to the apartment, we decided it was time to stop paying rent and shoot for a mortgage. I applied with Navy Federal Credit Union in March 2019 and was Pre-Approved a week later with a FHA Loan. From Mid-March to Mid-May the toughest part was finding a home. The process was straigtforward and documents could be uploaded via the portal. I only went into the branch once to scan some documents since my printer at home was malfunctioning. We found a house $314.5k and offered $315k w/ 3% Closing Assitance. Our realtor kept saying that we couldnt get 6% Closing Assistance since it was "illegal and not sure why NFCU would tell me that I could." The sellers countered with $316k with $7k Closing. I figured we met in the middle primarily so accepted. We closed 30 days later. We also used NFCU RealtyPlus only because they offered the bonus, which was deposited into my account 2 weeks after closing. As well as NFCU Title Services. 

Overall, I would recommend NFCU, just make sure that your loan officer isnt juggling multiple roles like mine was. This made the LO only available during email. I would also recommend the RealtyPlus if for nothing more than the bonus back in the account. 

Home in is Maryland

Purchased: $316k

Appraised: $318k

FHA 30 Loan (3.5% Downpayment)

3.65% Rate 

At the end of the day I came out of pocket around $13k including appraisal, inspection, etc and receiving the bonus. 

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C o n g r a t u l a t i o n s

Yep, NFCU is great for mortgages and my realtor that I had thru realty plus was also great. The LO was slow with returning phone calls but the loan processor was awesome. I did give the LO less than a perfect rating on the survey. 

[Anonymous]

Thank you! I agree, NFCU could do a better job with their Loan Officers. 

[Anonymous]

I can say that, that home was not for you. The storm proved it. My home was found 'accidently' when I was on my way to another open house. Neither the realtor or I even knew about the development. Its pretty new, built in 2016. We were looking at new constructions as well, but most would be available starting in August after our lease was up. I did notice that many of the new constructions have current homeowers selling their homes as construction is building. That could be an option as the home is 1-2 years old and have the ability to still use NFCU and RealtyPlus. 

Thank you! We really love this home.