PenFed

[Anonymous]

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@Anonymous wrote:
You could do FHA with 3.5% but you'll have PMI.

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So FHA but just go through penFed?

I am also thinking SONYA which also gets low rates if you dont go over 
income threshold which I don't.

[sekada]

Hey Harley,

I'm thinking of a HELOC with them - can you give me any info on how they do appraisals?  I called several months ago and they said they do computer appraisals, not in-person... does that sound right? Do the appraisals seem to come in about accurate as far as you could tell, or low? Thank you!!

[p-]

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sekada wrote: I'm thinking of a HELOC with them - can you give me any info on how they do appraisals?

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When I refinanced with them, they used all mobile services, including a mobile notary.  They hired a local appraiser to come out and he did an in-person appraisal of my house and property.

[p-]

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smarzig wrote: So FHA but just go through penFed?

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Penfed does not do FHA loans.

[Anonymous]

Well- in the end I found an even better solution.

My wife and I had a qualifying low middle score of above 740, and while talking with a guy I know at a Marina in Seattle he told me to go to BECU (Boeing Employees Credit Union)

So I did- in 35 minutes I got a 90\10 on a $635k house at 2.75% on a 5/5ARM with no loan origination, no underwriting fees, no points- just prepaid's, and the legally required items.

I couldn't FN believe it. But I locked the rate and have the loan estimate- had the inspection completed today, and the appraisal is set for the end of next week. We provided the docs they wanted this morning and received a commitment from underwriting this afternoon. We are set to close on September 13th.

I'm freaking out!! I was prepared to "go to the mattress" to get this done.

In the end- $3,400.00 in closing costs plus prepaids plus the $63,500.00 down and we have a house.

After closing I'm taking the other $20k I thought I would have to spend and "I'm going to Disneyland"

Well my version of Disneyland is where everyone speaks German and they serve Beer in very large glasses!!!

Danka BECU!!

[Anonymous]

Wow congrats!

[Anonymous]

Thanks for the wealth of information Haleygirl, if I ran a bank I would hire you!

[damnedanddetermined]

Does PenFed do personal loans? I want to purchase a home that is 17K, my highest fico right now is 655. What would my chances be?  How long to get approved? What are the requirements/timeframe?Thanks!

[MontegoMack]

@HarleyGirl1987 I would love, love, *love* to have the same information for NFCU.

Thanks for shring your knowledge and experience.

[pizza1]

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@damnedanddetermined wrote:

Does PenFed do personal loans? I want to purchase a home that is 17K, my highest fico right now is 655. What would my chances be?  How long to get approved? What are the requirements/timeframe?Thanks!

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yes they do, look for my thread in PF.