1. Just What quantity do we phone if i’ve concerns?

We shall constantly offer free consultations regarding your education loan situation via email penfed@purefy.com, or via phone, 202-888-4320. We pride ourselves in putting you first and choosing the best answer for every unique situation. We are here to help whether you have questions regarding an in-process application or you’re shopping around for information.

2. Where do we deliver my underwriting papers?

To expedite the processing of one’s loan papers, and also to keep them safe, it’s always best to upload them right to the application.

If required, candidates could also e-mail their papers to: penfed@purefy.com and can include the application ID.

3. May I refinance loans for just two or maybe more borrowers into one loan (in other words. Can two different people refinance their loans into 1 loan)?

We are able to typically facilitate this demand for maried people and other situations that are unique. Nevertheless, please call certainly one of our education loan specialists at 202-888-4320 to talk about choices before continuing with a credit card applicatoin so we will find the best answer for you personally.

4. Exactly just exactly What info is considered into the credit that is initial regarding the application?

The initial credit review considers all the information both you and your cosigner offer throughout the application procedure, such as for instance earnings, level, and college, along with the information acquired from your own credit history. Once you pass the credit review, the next thing is to deliver paperwork that supports the credit information.

5. If We conserve my application to return and complete it later on, the length of time is it kept on file?

We are going to keep your unsubmitted application spared for thirty days. After you have submitted the job along with your initial credit check is run, we are going to keep your presented application on declare 60 times. But why wait when you’re able to conserve money on your loan now?

You have access to your application that is unfinished right here. You may do so here if you need to upload documents.

6. Just how can we look at the status of my loan?

Give us a call at 202-888-4320 and something of our loan advisors can offer a status improvement. You may also go to your finished application right here.

Upon logging in, view the “Checklist” tab to find out if any papers are outstanding.

7. I cannot log into my account. How can I reset my username and/or password?

Go to the job right right here. In the page that is log-in there clearly was a website link to reset the password, or even to get your individual title.

8. Upon pre-approval, just what documents do i must provide to accomplish the application form procedure?

We need 5 products throughout the underwriting process:

• Money verification: a paystub or income tax return. See details that are further FAQ # 9
• Picture ID: a permit, Passport, or state-issued ID card
• Payoff Verification Statements from each current servicer: a statement that projects the payoff quantity 10, 15, or 1 month in to the future
• Graduation verification: a photo or copy of one’s diploma or transcripts
• PenFed Membership Application: a part of the application after pre-approval

You should not break the fax machine out, a smartphone photo or display shot will suffice.

9. Just exactly just What papers are needed for earnings verification?

Because each debtor is significantly diffent, we you will need to accommodate a lot of different earnings as most useful we could. Listed here are our appropriate types of papers for the pay kind:

Salaried/Hourly: for a paystub dated within the past 30 days to verify your base pay if you are a full-time employee, we’ll ask you.

Self-Employed: For self-employed borrowers, we are going to request pages 1 and 2 for the past 2 yrs of one’s income that is federal tax (type 1040), in addition to any relevant schedules showing the business enterprise income. We are going to just take a two 12 months average associated with the net gain from the schedules.

Adjustable Income ( e.g. Overtime, payment, or bonus pay): if you should be a member of staff with varying site web link hours or receive commissions or bonuses, we are going to ask you to answer for the previous couple of years of W-2s as well as your newest paystub so that you can employ this earnings.

Rental earnings: For leasing earnings, we will request pages 1 and 2 regarding the past 2 yrs of one’s federal tax returns (type 1040), in addition to Schedule E.

Pension money: For retired borrowers, we will request the prior 2 yrs of 1099-R kinds and average out of the totals to determine your earnings. If you don’t have 1099-R kinds through the past couple of years, then we are able to additionally make use of your newest benefit award letters.

10. Do i have to be described as a PenFed user to refinance? How can I registered as a member?

So that you can refinance with us, you will have to develop into a PenFed user but cannot worry – it’s not hard to join, and there’s no need for army solution. You will fill down a account type through the underwriting procedure when you are pre-approved. As soon as your membership is verified, you should have use of PenFed’s award-winning services and products. You certainly do not need to be user to utilize to refinance your figuratively speaking, we only need membership after pre-approval.