Refinancing online with NFCU is BAIT & SWITCH. First they show you low rates on the website. Say that they are based on 80% LTV rates then when you attempt to get one of those advertised 'as low as' rates, they then tell you your not qualified because they index all their rates to be 60% LTV (loan to value). So despite the fact you have R-1 credit a 780 FICO score and a decent job (documented) that has not laid you off in 23 years (Healthcare) They NFCU still want to play games. We tried twice to apply with them. Gave them full documentation and everything. The best they would go for is 5.12% rate even though 4.625 is ADVERTISED on their website.
The Department of Justice & HUD need to look into their practices, I did not withdraw my application, the loan officer nor his boss as he said it was would meet or beat the going rate with SUNTRUST, or BBT.
Going to leave NFCU and all their BS. I see now why the BBB at (www.bbb.org) has a poor rating on their mortgage division. That and I am a 25 year member of NFCU. Something is definitely wrong in the way they
Approve loans now. Oh. BTW we have more then 50% equity in the house & we are doing a Refi of an existing NFCU Home Equity Loan. They don't want to lower our payment rate. Too bad another company already has lined up to take your place.
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