As there havent been any posts regarding the NFCU Homebuyers Choice mortgage process recently, I thought I would take you along with me as my husband and I work to ontain a pre-approval.
Present credit scores
Husband EX 753, TU 751, EQ 693
Mine EX 693, TU 694, EQ 670
Total adjusted annual income: 169,000
Monthly income: 15,500
Monthly Debt: 1,900
401k balance: 21,000
We were told last night that we were pre-qualified for the Homebuyers Choice (assuming we had very good credit and qualified for the 4.875 interest rate) for an 800,000 house. As we want actual hard facts to shop for a house we just hit the submit button for a pre-approval application for a $750,000 home loan.
We are also working with NFCU to try their realty plus referral process, which allows you to work with one of their recommended teal estate agents and in return get a cash bonus upon closing.
We will keep you guys posted and update you in 24-48 hours once we hear back from the underwriters. On a side note, when we started on this journey 1.5 years ago our highest credit score was a 580! We owe it all to the help on these forums for getting us on track to buy our first house!
Wish us luck!!!
Wow OP. This couldn't have been timed better. I'll be following your journey as I am within a couple of weeks of starting this same process. I was really wondering how well that RealtyPlus program works. Good luck to you and do keep us posted.
Following your thread. Good luck to you!