After applying with FPCU, Wescom, Stanford, Tower, and Pasadena, I ultimately went with Pasadena at 2.99% for 72 months (auto-draft).
Cost: $61K (with doc and delivery)
Total cost: $66.4K (California)
Total financed after subtracting $3500: 62.9K
FICO: 815-820
- FPCU was 60 month max (looking for 72), 95% LTV, and 15% minimum cash down.
- Wescom had too many hoops to jump through to get the lowest rate, and they wanted ~ 20% down. Based on the large down, don't think the spreadsheet is accurate with them listed as willing to go to 130% LTV.
- Stanford was 3.99 for 84 months (spreadsheet said 2.99 @ 84 so I figured I'd try, was sorely disappointed). Spreadsheet need updating.
- Tower and Pasadena was willing to to do 2.99% @ 72 months and cover all costs including registration. So even though the spreadsheet says 100% LTV for Pasadena, it is actually higher because they're willing to include all the extra costs into the loan.
- Actor's FCU (no response, lol. Tried with the songwriter's guild free membership)
However Tower took 5 days to approve my loan application while Pasadena was able to do it in less than 24 hours. Plus the Pasadena loan officer actually called and emailed me, while Tower was just automated emails.
If Pasadena's response time is any indication of future customer service and ability to answer inquiries in a timely fashion, then this is who I'll give me business to.
Pasadena's policy is that they don't do ACH transfers though. They'll overnight a check to Fremont, so plan accordingly.