click to close
help
edit

Forums ›
Finance

Looking for Mortgage similar to PenFed in: Subjects › Real Estate

  • filter:
  • Tell A Friend
  • Text Only
  • Search this Topic »
  • switch to 'Classic' view
  • Page :
  • 1
rated:
   posted: Aug. 29, 2008 @ 8:22a
alert mods    

Thanks to the people on FatWallet, I refinanced my condo last year with PenFed. What a great deal! I got into the 5/5 at 5.25%, so I'm pretty happy with that. Now, I'm looking at buying a new house, while keeping my existing condo. I've read here that its tough to get two mortgages with PenFed, as they generally consider your second house to be an investment property. Right now, PenFed has a great deal on a 30 year fixed, at 6% with no points! Since I probably will not be able to use PenFed for my new house, can anyone recommend a credit union, or broker with a similar deal? Thanks for the help!

   posted: Aug. 29, 2008 @ 8:22a

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.


rated:
   posted: Aug. 30, 2008 @ 4:40p
alert mods    

Have you actually tried asking Penfed?

If you are truly planning on moving into the new house, then why not? Esp if you are moving from a condo to a SFR. Plenty of people upgrade to a bigger home.

rated:
   posted: Aug. 30, 2008 @ 8:17p
alert mods    

If the new house is in the same city, you should still ask before applying. PenFed wouldn't accept mine as a primary residence loan because the new house, which we really have moved in to full time, was within X miles of the old. I forget was X was - 50 or 100 maybe. We're renting out the old one.

Another poster soon after reported no snags with PenFed on what seemed like a similar transaction, so I'm really not sure what you should expect.

 Close

Sign Me In
Nickname: 
Password: 
Remember My Login Information:

Forget your login information?

Not Already A Member?
Sign Up Now!


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.


  • © 1999-2008
  • Message Board Statistics RSS Feed Information
Sign up for free today, because you don't want to miss out on any more cash back than you already have! There are currently 1,027,188 people just like you registered to earn Cash Back From FatWallet. Be the next! Sign up to join the discussion & earn Cash Back from FatWallet:
close