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The ballon thing is like a lease. Chase 72? there is no way you got even close to Penfed's traditional loan rates.
They should of told you that it requires super high credit and probably being a member with several loans already paided off to qualify for that. As others have said it would be a bad lending practice.
I think Penfed should of told you that it was hard to get approved for that type of loan.
Now you have a FICO hit that will stay on your record for 8 years.
Good luck.
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