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Union Home Mortgage Review – Navy Federal Credit Union Mortgage Pre-Approval Update – HomeBuyers' Choice

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Union Home Mortgage Review – Highest Rated?

Getting preapproved for a Navy Federal Credit Union mortgage has been nothing short of a nightmare.

When we initially applied, all was well. But my husband changed employers in the middle of our application process, lowering our pre-approval amount by $35,000 because bonuses and commissions are excluded from income.

Multiple rate increases have further hindered our ability to get pre-approved for a home that will house our family without us killing each other!!

3 bedroom, 2 bath homes with 1200 square feet for $250k are NOT going to work!

So if you’re considering joining Navy Fed for its no money down mortgage or home loan, watch this video FIRST! #navyfederalcreditunion #navyfederalmortgage #navyfederalhomeloan

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32 Comments

  1. Melissa Blevins
    July 23, 2021 at 11:24 am

    Thanks for watching! Watch my original video sharing the basics of Navy Federal Credit Union's No Money Down, No PMI Loanhttps://www.youtube.com/watch?v=yjFLXrLboB4&t=136s

  2. Xtreme
    July 23, 2021 at 11:24 am

    Very helpful

  3. J A
    July 23, 2021 at 11:24 am

    Navy fed VA rate is 2.5 30yr old

  4. Jaquea Elmore
    July 23, 2021 at 11:24 am

    Can we get a update on your Navy Fed loan.

  5. Keisha Johnson
    July 23, 2021 at 11:24 am

    Sounds to me like rather than bickering about a few thousand dollars that you should have left well enough alone. You’d have a lower rate, more mortgage and less inquiries. It doesn’t sound like it was their fault.

  6. Ke'sha Shaw
    July 23, 2021 at 11:24 am

    Thank you

  7. Chincheckers
    July 23, 2021 at 11:24 am

    They gave me a preapproval and then denied me the next week. They didn't even give me an explanation or a counter offer. I was told from one of their workers the mortgage department is the worst

  8. TRUTH Drops - Keeping It REAL
    July 23, 2021 at 11:24 am

    I pray that God brings a blessing to you and your husband. Perhaps the timing wasn't right at this point and better things are coming your way.
    You seem like a very patient person and you deserve what you and yours are working hard for. Stay the course.
    I am sure you both will be rewarded. I have been with NFCU since 1973, they have many good qualities, but corky things can happen with them also.
    Blessings

  9. Gr82bspoiled
    July 23, 2021 at 11:24 am

    wow! I'm so sorry that happened to you guys… that sucks! I'm a veteran looking for a lender – I'm definitely NOT using them now. Thanks for the heads up!

  10. Unlimited Cash For Homes LLC
    July 23, 2021 at 11:24 am

    It's good to just refi into a 2 % interest rate conv

  11. Unlimited Cash For Homes LLC
    July 23, 2021 at 11:24 am

    Is this program still available how long have you been with Navy when you applied for a mortgage

  12. Unlimited Cash For Homes LLC
    July 23, 2021 at 11:24 am

    What type of documents do Navy Fed ask for from you to get approved

  13. AsSeenOnTV-CH7
    July 23, 2021 at 11:24 am

    I think you're overlooking the real lesson here… that you already knew… but just weren''t comfortable dealing with yet. All your good intentions don't change the fact that AFTER you submitted all your financials… AFTER you were preapproved using Story #1… you two made HUGE changes in your story that changed your "risk" category… for ANY lender, not just NFCU. Your quiet, sincere, honest voice makes your side of this story very endearing, very concerning, and pull at everyone's empathetic heartstrings. But… the fact is… you two changed the very basis for which NFCU gave you preapproval. And everyone SHOULD KNOW… you need to remain the most boring, predictable, financial managers of your financial stuff for AT LEAST TWO YEARS BEFORE you ask for PREAPPROVAL or FINAL APPROVAL for a home loan. So I totally empathize with your now screwed-up, less than expected financial situation now. But there is nothing NFCU did that was not totally predictable or that would have put you in a better situation than you are now with NFCU. So yes, you SHOULD spend the next two years saving… and getting your act together… and your Story #2 straight… for TWO YEARS… so you don't go head first down the preapproval ladder… AGAIN. I mean… did you think being sweet over the phone was going to change your last minute massive financial picture changes? Clearly, your last minute changes at a different lender would have landed you exactly where you are now… except with a lender not so likely to bend over backwards to help you. I don't work for NFCU, but your description of how this went down is slanted toward your WANTS and NOT your actual reality as you appear on paper and over the phone before lenders. You would do well to sit down together… and review this video… and the "facts" and "wishes" you presented here… except this time… listen intently as if YOU were the LENDER. If YOU don't hear that the applicants in this video totally changed their financial profile and their good guy / bad guy woe is me story about leaving "reliable" and "unreliable" employers TWICE in the middle of applying for a loan… in the MIDDLE OF A PANDEMIC and PANIC-BUYING REAL ESTATE MARKET… then… good gracious… you're just going to keep doing these self-absorbed, self-defeating behaviours again and again. Good luck to you. But you need to know you really have screwed up the very best chance you had with the one financial institution who would have bent over backwards to help you with every aspect of your financial life going forward. NFCU did not do YOU wrong. You screwed up. YOU screwed YOU. No one but you. So sorry for you both. Wish you both better luck with your ever-changing employment income stories next time. My sincere condolences to your veteran NFCU member brother. This video does NOT, in any way, serve, help, honor or pay respect to any of our veterans in any way. Something you may wish to self-reflect upon or consider, too.

  14. 33naughty
    July 23, 2021 at 11:24 am

    Navy Federal is great but I know right now the mortgage interest rate with them is much higher than Armed Forces Bank. I would say check Armed Forces Bank they are great too.

  15. Round Table Talk Tv
    July 23, 2021 at 11:24 am

    Great video

  16. da moab
    July 23, 2021 at 11:24 am

    Wait what? So regular people can get 0 down on their mortgage

  17. Jeff Baxter Official
    July 23, 2021 at 11:24 am

    Hi Melissa, great video! Do you have an update on your Navy Federal experience? Did you guys end up getting a house through them? I just got pre approved and curious about the overall experience

  18. Jean Whitney
    July 23, 2021 at 11:24 am

    I just came across your video. I've been following this lender and I think she is awesome you should check her out Jen beeston

  19. Jason Just-Jason
    July 23, 2021 at 11:24 am

    Thanks for sharing

  20. Roncielago
    July 23, 2021 at 11:24 am

    Great info. Iv been banking with Navy fed for about 11 years now and have had a couple car loans with them as well. I’m thinking about getting there Home Buyers Choice loan only for the the fact that I really don’t have much of a down payment saved up yet. On the other hand, I’m working on saving up for a down payment for a $300k house. Have you heard
    of the Home Ready and Home Possible conventional loans with Fannie Mae and Freddie Mac where you only put down 3%?
    I’m trying to figure out what option is best for my situation.

  21. Donald Barber
    July 23, 2021 at 11:24 am

    welcome to navy federal credit union same s t differnt day i just went to my local bank and got a mortgage at a lower rate

  22. Joe Techcommanders
    July 23, 2021 at 11:24 am

    Anyone that is self employed or barely employed as a W2 employee (making under 100K a year) will be slammed around. Thats what I have been seeing.

  23. terrence vinson
    July 23, 2021 at 11:24 am

    You should try Delta Community Credit Union. Their First Time home buyers loan is 3% down and it's lender paid pmi, Also the closing cost is low. You can get a rate of 3.8 if your credit score is over 720 and maybe 100% financing as well.

  24. terrence vinson
    July 23, 2021 at 11:24 am

    Navy rates are high for this loan and also their closing cost is higher than other lenders.

  25. JRev
    July 23, 2021 at 11:24 am

    Thanks for sharing Melissa, yeees lets keep saving 💰💰💰💰

  26. Mr. Dad
    July 23, 2021 at 11:24 am

    NFCU's process and customer relationship management leaves much to be desired.

  27. Austin White
    July 23, 2021 at 11:24 am

    Let me preface this comment by saying that I'm not trying to start an argument. During the process of applying for a loan you aren't supposed to switch jobs. You're asking for a loan, asking. Meaning that it is up to the institution to approve you at the rate they want to. I get your frustration because of the changes that have occurred in your approved amount, but it really is like crying with a loaf of bread in your hand. Just saying there are other banks and credit unions out there. There are also programs that could give you closing costs if you qualify. NFCU is overall a good banking institution.

  28. Mick's, Interests and the outdoors.
    July 23, 2021 at 11:24 am

    Thanks Melissa

  29. Michael Johnson
    July 23, 2021 at 11:24 am

    Melissa, omg, what is NFCU doing? They really need to get their mortgage product together. I do all my banking with them and wanted to use their VA mortgage product.

  30. I'm Ethan - Youtube Tips
    July 23, 2021 at 11:24 am

    This was informative Melissa. Thumbs up from a fellow creator 😅

  31. N.R.
    July 23, 2021 at 11:24 am

    I'm the process right now and you left out a few things like 100% financing, and no pmi cost and on top of that ,no down payment but i will say the no down is a somewhat a ploy because they charge a fee if you put nothing down of 1.75% which can be rolled into the mortgage so there that or you could put 3-5% down and the fee goes away the home buyer mortgage is just another tool ,a mortgage product for you to explorer ,its not a one size fits all thing ,right now I'm in the process with the builders mortgage company and navy because of the numbers don't lie it hows you want to pay for it and yes the market is not good but you can't say when or if it will ever be again so do what you think is right for your self ,i will say that navy is really over work do to the financing everybody who qualifies for this loan because no down payment means more money in the pocket and so does no pmi even with a higher rate that can be refinanced in house with them later which the cost will be less then the first closing because all the major work has been done since its in house refinancing.

  32. Adam Cargill
    July 23, 2021 at 11:24 am

    Thinking of doing a REFI with NFCU. Is there any other Credit Unions better that you know of ??