Help with Refinance Question?

[Marita40]

To join I gave my brother's name: he's an ex ROTC. As I recall they simply ask whether any friend or family member served in the military. Also, to answer an earlier question on this thread, the application did ask whether I was going to pay off a mortgage with the loan, and I suspect that this fact did help speed the process.

 

[clifp]

My heartfelt thanks to brewer12345! It took two days--two days!--for Penfed to approve the 2.99% home equity loan. I'm now in the process of completing the simple paper work and move to closing. brewer, you saved me from swimming in the murky lake of refinancing (especially the incredibly boring job of running around comparing interest rates, etc). This turned out to be an excellent option and a very simple process. I really appreciate your help!

Approval is quick for many companies, what sets Penfed apart is how fast and straightforward the closing process is. I wish credit unions could go public cause I'd definitely buy their stock.

 

[Beryl]

Your experience with Penfed is very helpful. I filled out the online application today (very easy to do; user friendly site) and so, fingers crossed, it is now a wait-and-see. All my calculations show that I will save about $4500-$5000. with this route, shaving @ 4 months off my mortgage payoff. That's good enough for me!

Congrats!

I paid off my home 6/2010 and it is a exhilarating feeling to this day. I find no better feeling that to be completely debt-free. Those few years will go quickly and who knows -- maybe you'll pay down the principle sooner.