NFCU VA denied. This is so stressful.

Anonymous · ‎02-28-2021

Hi everyone. Anyone got denied at NFCU but got approved at another lender? This is our first mortgage application.

jhb · ‎02-28-2021

Don't fret, there are better lenders out there! I've been a member of both, NFCU, and USAA, since I joined the, Air Force, over 20 years ago. Their mortgage products suck, in my opinion! I've used LoanDepot, Veterans United, and Fairway...they have all trumped USAA/NFCU, in customer service, and rates, when it comes to mortgages.

Anonymous · ‎02-28-2021

Thank you so much. We were really worried until you replied. You gave us hope that there's still lenders out there that will make our dream come into a reality. Thank you again for enlightening us. 😊 We contacted a local broker and see how it goes. 🤞🏼

Anonymous · ‎03-01-2021

Don't give up!! I'm not sure where your mortgage scores are but from what I have read NFCU has a minimum mortgage score of 660. If your middle score is below that they will deny you. As mentioned above I would check Loan Depot, Amerisave and Rocket Mortgage. Amerisave will actually do a soft pull and provide you with all three of your mortgage scores. They will accept a MMS of 620.

Good luck!

Anonymous · ‎03-01-2021

I just checked out Amerisave... great application process but the rates they offered for a 30 year VA loan with the soft pull were very high. 3.125% without discount points and MMS of 670, 2.25% with $20k in disc points..... PenFed (with a hard pull) offered me 2.375% with no discount points when they pulled a 660 MMS about a month ago. This is for a $720k purchase price with 5% down and roughly $15k in builder credits at close.

OP, check out PenFed! I recommend them highly!

Anonymous · ‎03-02-2021

Thank you very much. We are working with a local mortgage broker right now. We'll see how this goes and we'll update later.

Pit-Smoker · ‎03-02-2021

@Anonymous wrote:
Thank you very much. We are working with a local mortgage broker right now. We'll see how this goes and we'll update later.

Just...don't forget the Fico Rule: Any pulls in 14 days (?) for the same purpose won't be held against you as separate pulls.

That is, you should do all your rate/customer-oriented lender shopping at once. Don't wait for the local guy to deny you or get sketchy before having to go back to the well again in another 3 weeks.

Rebuilding is like smoking a brisket: it takes a lot of love, the right spice, and a ton of patience. You don't rush a brisket-- it goes low & slow. Sometimes, you need a crutch through the stall. In the end, the process matters.
2021 goals:
1) GARDEN until I app for Mortgage.
2) Pay Down overall revolving debt aggressively and accountably, to under 30%, including my HELOC.
3) Don't waste the gifted 0% time on the student loans.
4) Ultimately, refi the house at non-usury terms.

Anonymous · ‎03-03-2021

Yes. I am getting a house built and was preapproved with the preferred lender (DHI Mortgage). I decided to apply with NFCU for a VA loan too and was denied. They cited my past foreclosure as the reason (it was official for closed in 2017 but dofd was 2015). It ended up making very nervous that my application with DHI wasn't going to be fully approved. I reached out to my loan officer and he said it was perfectly fine. I ended up getting fully approved and now just waiting to closed in a few weeks at a 2.5% interest rate.

I was pretty disappointed I couldn't get it with NFCU as I've heard great things about them and I like the idea of whoever I get the loan through servicing the loan. But it has all worked out. Good luck!

Anonymous · ‎03-07-2021

Okay. Thank you.

Anonymous · ‎03-07-2021

Wow nice. Congratulations! We got pre approved for 3%. We wish we can find one like your rate. But anyways, as long as we got pre approved, we're good. We'll just find the right house for us.