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Looking to help a friend refinance a high balance mortgage at $550K 80% LTV in a county that goes up to $625K. Time horizon is about ten years before property is sold. May need non-occupying owner to sign the note also to get DTI ratios acceptable. Current note is presently in the non-occupying owner's name (brother of home occupant).
I'm looking at PenFed and NFCU so far.
PenFed offers a 5/5 at 2.875% and no origination fees with a 2% cap on adjustment and 43% DTI only needing a 680+ FICO score, however, all borrowers must reside in the house.
I don't know as much about the NFCU rates, so far it appears they offer a 5/5 at 2.5% and 0.25% origination fee but the rate varies with your FICO score, still getting more info on this one.
Other Credit Unions to consider? What about USAA, how good are their mortgage rates?
By Ummmmm ...
I was approved in January for Navy's Cash Rewards card.
At that time, their website advertised a rebate.
The rebate involved spending a certain amount within 90 days, and receiving a rebate of $200.
I called Navy this afternoon to be sure I qualify to receive this rebate.
The representative says that my card does not have on record a five digit code that I would have had to give them when I opened the card, to take advantage of the rebate.
I know there are a lot of NFCUers out there -- anyone taking advantage of this rebate and if so, can anyone lend a hand with the five digit code?
Thank you Credit board members for a wealth of information.
It's time to say good bye.
Relieved after closing accounts.
Merrick Bank ( July 2008) Limit: 1650 Annual Fee 96.00
Merrick Bank ( Hooters Card) ( Sep 2008) Limit: 1100 Annual Fee: 96.00
Capital One ( Feb 2009) Limit: 1000 Annual fee: 39:00
*Disclaimer: typing with my iPad, so I apologize for errors!
Today while doing my daily pulls I noticed something Imtersting.
A little back story first. I received a letter stating that Navient who I never heard of was buying my loans, but nothing else would change. I received that letter probably six months before the switch. Well, soon after the switch, I log on to my new navient account only to find that half of my loans are gone. I then get another letter a week later stating the Nelnet has purchased half of my loans. I was pretty mad considering Sallie Mae said nothing else would change, so did Navient. I didn't know anything of this until after it happened. So after being aggravated, I just decided to deal with it, set them all up for auto pay again, and forget about them.
Well, today I login to find that during the switch my Navient loans were closed and new Nelnet loans were reporting, but the new Nelnet loans were reporting with my original loan date, so it added 10 months to my AAOA and also 10 months to my credit length history. Raised my score to the tune of 8 points on my EQ. so essentially it added four new accounts with old 2006-2008 dates
The second odd thing was my capital one card that I got during college (my first cc) which only had a limit of $500 was bumped to $2000. I asked for a CLI last year and they said no, so I called and asked and they said they wouldn't give me one since I didn't use the car, I complanined saying that I have credit lines of well over 10k and i would never use it with that low of a limit, they still said no. I never login and even check that account, but just so happened to check and boom the AUTO CLI, which seemed odd to me. I may have to use it now a couple times to show them I still care 👍😀
Anyone else have a similar experience with their Student Loans. I'm on the downside and hoping to pay them off this year, but thought that it was interesting how it took place on my CRs. Didn't think they would process like that. My old loans show (Transferred/Sold/Closed.)