Paulbrapp

Just joined DCU.. got an email asking for copy of license to complete membership said it could take 1 to 2 business days to process. Went back on and applied for one of their credit cards. Approved for their best rate but with a 4.5k limit. Was think I would have gotten higher. Have a couple 5 digit cards and most of the others above 5k. I do have a lot of new accounts recently. Anyone every recon their initial limits with them?

Found my answer... had to search for it a few different ways until I found a good thread.

Was approved last Friday. How long until I see it online under "my accounts"?

Anyone use the convenience checks and write them out to a person? How do they treat that...BT or cash advance? I really just wondering if it would fall under their 2.9% BT offer they are running. Thanks Paul

I was supposed to settle on Tuesday but was delayed due to the appraisal. Finally done with that and it appraised well. Back in underwriting... I get a call from my broker this morning telling me that I need to do a conference call with the lender to two of my credit cards. They are not showing a minimum payment even though they have a balance. Reason for no minimum payment is since I have had the cards I have always paid more then the minimum so the following months they do not require me to make a payment. Has anyone ever had to do this? I find it completely redicoulus Cards are: NFCU and USAA Amex I even copied the minimum payment requirements directly from their terms and conditions to show how the minimum is calculated. I have supplied them with both of the card statements yet I still have to do this.. Any thoughts?

Yeah that's basically what I was told too... Not worth it in my opinion

PotO.... have you combined your limits with them recently? I have asked before but have been told they don't do that anymore

My last update for PSECU on EQ was February

Gxsrmike... if you don't mind could you share. I am working with someone now but I am right around the 41% so if something should fall through. Thanks again, Paul

Congrats.... I am actually just starting the process with them for my VA loan. I went through a local mortgage broker and this is the lender we are going with. I hope I have the same easy experience you did!

Good deal...appreciate the responses

So say I pull in $4000 gross a month. 4k x 41% = $1640 max for all debt? Correct? I've also read about "residual income" requirements for VA. In my case I live in PA with a family of 4. That comes to $1,025 per month. This is after all debts that I need to have available. (found this on another website not sure if this is correct or not)

Can someone explain to me what maximum front and back end ratios for a VA Loan. I've googled this topic before but all I ever see is the max allowable DTI of 41%. Is that both of them combined? My understanding is Front End - Principle, interest, tax and insurance.... Back End = front end and all other debts...credit card, student loans, car loan. Is this correct?

Thanks

Thanks... My scores have went from mid 500s to a 690,726,748