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New to the forums but long time lurker.
Thank you in advace for the help.
1) In your experience, how long does it take for NFCU to respond to an auto loan application that states "review in process"?
I applied 12/5, it is now 12/12 and have not heard back from them at all.
2) EQ is 605, one judgement, 2 CC (1 secured for $200 and one unsecured for $1000). On time payments for 6 months for both college loans and CCs. probably 2 accounts in colllections not settled. DTI ~ 35% , make about 38k/yr.
What do you think my chances for approval are? Asked for 18k, lightly used car (2013 and up) 60 months.
Thank you again!
Message 1 of 6I applied last night and had a approval in about an hour.
Message 2 of 6
Could you please provide some details, I.e. Fico score, derogs, loan amount, apr?
Thank you in advance.
Message 3 of 6 Regular ContributorCall them. They should be able to provide an answer over the phone.
FYI, approval confirmation via NFCU webpage of my last 3 auto refinance (1 the day prior, 2 on the same day) were received within 24-hours. However, I called after 1-2 hours of submitting my applications and received verbal approval-confirmations from the CSR.
My NFCU score was 813, can't recall if they pulled EQ or EX.
Message 4 of 6
I apped on 12/6 online didn't recieve any alerts within 12hrs so I called NFCU for update csr took info again and informed me Loan dept was backed up due to Holidays and I would recieve notification by Monday am. 3hrs later Received approval via email & text. TU hp\\692\\20 inq\\0 lates\\14% util\\1 5yr baddie($400 judgement)\\60k inc.\\ $24,702 auto loan @ 2.49%~60mos\\3k down\\6k neg equity on trade in\\2015 Ford Fusion😊😊
Became NFCU member last month.
Message 5 of 6
Thank for the replies.
So I called nfcu as one if you suggested and they said I was denied and would have to wait for the paperwork to arrive via snail mail to know why.
A few things to note:
1) I probably should have been more patient, I recently became a member (2 weeks) and have only the minimum $5 to open the account as a balance.
2) I will take the next few months and try to get them to see me as more trustworthy. I am planning on activating the direct deposit into my checking and will start using the account as my primary.
I will also bring down my utility which is at about %60 -I will get it down this month not an issue (and keep it sub 20). Simply this should push myfico eq over 620 as per the simulators.
3) I may or may not apply for a cc with them and keep low utility/ on time payments.
I may reapply in late February (birthday) as I should have an improved score, record of direct deposit, and about 6-7k in my checking. Any suggestions?
Appreciate the help everyone.
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