Real Answers from Real Pilots

Loan Approval/data


(Reeves Kanakaole) #1

First time posting on this forum but I believe this is some highly coveted info…

Older 20s. Changing careers. 10+ years of work/credit history. Mid 700 score. Cosigner high 600s also with 10+ years work. I need $60ish K as i have a PPL.

Applied to sallie mae. They required a cosigner. Added cosigner and was approved almost instantly. 11.4% fixed interest rate on the Interest repayment plan. Low $600 payment for 6ish months bumping up to $750 after the time “in school.”

Tried applying to WF. They required a cosigner (added the same one) then further required a joint cosigner so I stopped that application process.

Cosigner is working and also contributing to the loan. This was doable for us. Dropping my deposit and securing my start date tomorrow.

Happy hunting.


#2

Reeves,

Thank you for adding your experience. Good luck in the program. Now get crackin’ on those written exams!

Chris