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NFCU CLOC Application

New Visitor

NFCU CLOC Application

What documentation is required for a NFCU CLOC?  Is it like applying for a credit card or is more info required?

Message 1 of 9
8 REPLIES
New Contributor

Re: NFCU CLOC Application

I applied and was approved this morning, they just needed basic app info like income, requested amount, etc. 

Current Fico 8 as of 11/12: EX 721, TU 721, EQ 671
Message 2 of 9
New Visitor

Re: NFCU CLOC Application

What supporting documentation did they ask for?

Message 3 of 9
New Contributor

Re: NFCU CLOC Application

They didn't need any verification docs. They asked me simple questions just like a credit card app. Approved...then you can sign the prommisary docs electronically. 

Current Fico 8 as of 11/12: EX 721, TU 721, EQ 671
Message 4 of 9
Senior Contributor

Re: NFCU CLOC Application


@Pixelhound1 wrote:

What supporting documentation did they ask for?


I was asked for my last three paystubs, for final approval. 

Gardening until... April 2019




Message 5 of 9
New Contributor

Re: NFCU CLOC Application


@Adkins wrote:

@Pixelhound1 wrote:

What supporting documentation did they ask for?


I was asked for my last three paystubs, for final approval. 


Interesting, I'm curious to know where nfcu draws their line for income. I reported $65k and no income docs were asked from me. Some lenders aren't so uptight about income and some are. My previous job we delt with a lender out west who needed income docs for anything reported over $40k. 

Current Fico 8 as of 11/12: EX 721, TU 721, EQ 671
Message 6 of 9
Established Member

Re: NFCU CLOC Application

I reported 86400 on my CLOC app but I only requested 5500 CLI from my original 500 for a 6k total line and I didnt need to supply POI

Starting Fico 08/1/18
MyFico 3B 12/7/18


Message 7 of 9
Established Contributor

Re: NFCU CLOC Application

Its like a regular credit card app and I didnt need POI for mine. However, they could ask for it(also if you recon). I think the equity department approves these, not the credit card side.

Message 8 of 9
Regular Contributor

Re: NFCU CLOC Application

NFCU CLOC is handled by the Personal Loans area of NFCU. It is understanding that POI is at the discretion of the assigned loan officer. The way it was explained to me is even though you may not have contact with an officer if you're instantly approved, there is still one assigned to to your file.

Having said this, I was instantly approved in October, on $128k income, no documentation of any kind requested, for the full $15k. It was a HP to EQ (unlike credit cards which is a HP to TU). They pulled another version of FICO, not FICO 8, and my score was 701, 11 INQ, and 2 very old Charge-off accounts reporting.

12.2018

UTIL Protection: NFCU CLOC $15,000
Rebuild as of: 03-2018 FICO 8 | 501 | 498 | 508 | Respectively
Message 9 of 9