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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?
I found this board by accident in Mid November and am so glad I did. I've been feeling quite a bit of despair regarding my bad credit. My bad credit forces me to live a life with very limited choices. I could give a heartbreaking story about why I am in this boat and tell you all about my ex-wife, divorce, custody etc and blame a lot of it on her. The simple truth is that I am to blame and I am the one who needs to fix it. What I like most about what I've read is the support given and genuine responses when good things happen. This is a great forum, and I can't wait to be a part of it.
I'm taking it slow in the beginning because there is so much information. I've read and re-read the "required" material from psychdoc, whychat, newbie forum etc. Because of the reading I've done, I decided in Mid December to first opt out, I pulled my reports from creditreport.com, and just today I called TU to ask for my old address to be deleted. It was simple and easy and I had a bit of thrill run through my veins when he said yes and then deleted my phone numbers as well. I know this is the low hanging fruit of the path I'm taking, but its a great feeling to be in control!
My next steps are to try for the deletion of my old address from equifax and experian, and then re-read all the info I've looked at in order to properly triage my baddies.
If there is one question I have to begin with, it's this: Is creditreport.com an "okay" place to get my initial CR's? I've seen a lot of talk about myfico. Should I pull from there instead?
I'm planning on being an active member in this forum and I look forward to talking with you and hopefully one day, offer my own advice as well.
Does anyone have any "outside of the box" ways to attain membership at NFCU as I am to become a member as no one in my immediate family has served in the armed forces?
P.S. - I apologize for the typo in the subject line(I must have been typing to fast).