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Commissioning Loans

I just got it yesterday (paperwork came via FedEx today, and the first payment could be delayed by 90 days. This deferrment seems to be all over the place. Maybe they roll a single die and tell you 1-6 months depending on what comes up?:icon_wink
 
twidget said:
Maybe they roll a single die and tell you 1-6 months depending on what comes up?:icon_wink
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You didn't know? USAA recruits the retired detailers fr the Navy, they even give 'em a new dartboard for this purpose!
 
Do you have to have a certain credit score to get one of these commissioning loans? If so, what is the score?
 
No, USAA pretty much knows that you're good for the money afterall they require that you switch your direct deposit fr the Navy to their bank & worse case scenario, USAA can find YOU & your CO if you fail to pay...
 
They do check your credit, but you dont have to have perfect credit (I dont) but I am sure they just dong give 25k to anyone
 
I just got $25,000 deposited into my USAA checking account thanks to this thread. Interest rate 2%. Payments do not start until 90 days after commissioning date.

Thanks everyone!:)
 
Logico said:
I just got $25,000 deposited into my USAA checking account thanks to this thread. Interest rate 2%. Payments do not start until 90 days after commissioning date.

Thanks everyone!:)
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Heh. They told me I'd have to wait until I reported for duty to receive the loan. Were you able to get it because you're BDCP?

Best,
cac
 
Cornellianintel said:
Heh. They told me I'd have to wait until I reported for duty to receive the loan. Were you able to get it because you're BDCP?

Best,
cac
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Chris,

He gave you bad gouge man. Just call up USAA and get the loan. You are eligible up to like 18 months prior to your commissioning date. I applied for the loan on Monday and by today (Friday) I was $25,000 richer! :)

Joe
 
Logico said:
Chris,

He gave you bad gouge man. Just call up USAA and get the loan. You are eligible up to like 18 months prior to your commissioning date. I applied for the loan on Monday and by today (Friday) I was $25,000 richer! :)

Joe
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Thanks a lot, man. I'll get right on that.

Just did it. Thanks for the head up!!!
 
RootinTootin said:
Just so I am clear on this. After I take my oath, even before attending one day of OCS, I am eligible for this loan?
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As long as you're within 18 months of commissioning, that's a big affirmative.

Best,
Chris
 
Bump.

I just want to reiterate what a good deal and how easy the USAA Commisioning Loan is. 2% fixed APR. Payments can be deferred up to 90 days after your commissioning. It's a huge jump start financially if you aren't going to be a jackass and spend it all on random crap. I'm paying off my car which is at 5.9%. Most of the rest is going into a CD.

I called today and they are overnighting me the paperwork. I should have it early next week. It couldn't have been easier. It's almost scary.
 
I was just wondering if anyone in BDCP has taken advantage of this yet? I am still about 20 months from commissioning but when I was inside the 18 month window I would like to get this to consolidate my debt. Does anyone know if you can get this loan 18 months out if you are BDCP?
 
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