I want to buy a house!

[Rebuilding2010]

I'm thinking I want to try Navy Fed and Penfed. I should apply for everything within a month right, so it only counts as one inquiry? Here are my stats

 

Walmart (TU) FICO: 810

PSECU (EX) FICO: 825

MyFico (EQ) FICO: 785

 

Savings: $30k

Salary: $70k

 

Baddies: 1 (60 Day) late payment on store account 2006.

AAOA: 30 yrs

 

Revolving Credit: $300

Student Loans: $15k

 

Any advice?

[Mortgagase]

With the stats you have posted i wouldn't worry about inquiries. Apply once with a good mortgage broker. Let Navy and PenFed hane dle your credit cards. You will need a professional for the mortgage process.

[Rebuilding2010]

Really? But they have 3.75% financing... So not a good idea to apply online eh.

 

Funny enough, a future mortgage is why I initially joined those two credit unions.

[Repairerer]

Their rates are both good and they both seem to offer promotions to their members like paying for some or all of the closing costs, so look in to those.

 

It's a different situation but I recently refinanced with Penfed to a HEL. I updated about the process here: http://creditboards.com/forums/index.php?showtopic=487706

[Rebuilding2010]

I wish I knew someone that was in expert in this

[Rebuilding2010]

I'm thinking I want to try Navy Fed and Penfed. I should apply for everything within a month right, so it only counts as one inquiry? Here are my stats

 

Walmart (TU) FICO: 810

PSECU (EX) FICO: 825

MyFico (EQ) FICO: 785

 

Savings: $30k

Salary: $70k

 

Baddies: 1 (60 Day) late payment on store account 2006.

AAOA: 9 yrs

 

Revolving Credit: $300

Student Loans: $15k

 

Any advice?

Oy, AAOA is 9 years not 30, geez louise. Considering I'm barely 28 I doubt my AAOA could be 30.

[Brian B The Loan Professor]

You will be fine any where you go the issue is not allowing yourself to be overwhelmed by the choices - There are some obvious things to look at when comparing a mortgage - but keep in mind rates do change so you need to compare rates from the same day to be a true comparison - also keep in mind there is a value in the amount of help and communication you will get through the process - if you are ok with never speaking to the same person twice I can personally vouch for Wells Fargo - they did a loan for me once - only once because I hated not having a contact - every time I spoke to someone I had to explain and they had to read my file to try and understand the scenario -

Wherever you go make sure you get someone that communicates well with you and is available to be your contact person -

I did some studies on the better rates being offered through an online site what I found out was they had a back room full of non licensed assistants - and once you submitted your application the agent was off looking for the next loan and the customer dealt with the assistant- they made their money through volume and their customers suffered through the process - It may have been the better rate and or the lower cost but was it the best deal? All things to consider - I cant speak for the bank you are looking at others have used them on here and some have been very happy others not so much -

 

Good Luck

B

[Rebuilding2010]

I'm going to try to get pre-approved with them at least, to have a backup, and to get an idea of what types of homes I should be looking at. Maybe I'm just overeager and want to get the process in motion.