Les Bois Credit Union Don't trust Les Bois Credit Union to keep their word! A promise means nothing to them. Garden City Idaho
My wife and I wanted to purchase a home that was above the jumbo limit so Academy Mortgage (excellent company!) suggested we engage Les Bois CU to carry a second mortgage to get us to the purchase price less our 10% down. We have outstanding credit so Marty Lytle jumped at the opportunity and gave us a loan pre-approval letter on Mar 19, 2013 to go along with the one from Academy and we locked in deal for a home with the close set for a couple months later.
Marty knew we had filed an extension for our 2012 taxes and was fine with using 2011 & 2010 taxes for income verification just as Academy Mortgage was doing. With only two weeks before the close, apparently the VP at Les Bois CU decided he wanted to "lower their risk profile" on our loan so demanded we provide audited financials from my business or that we file our 2012 taxes. I explained that wasn't possible so they demanded we put another 10% down which was also not possible. Nothing had changed regarding our credit or income, NOTHING! They just arbitrarily decided to renege on their loan promise even AFTER providing us with the HUD-1 statement. They KNEW it was impossible to get audited financials in time (if we could even afford that!) and knew we didn't have the cash for another 10% down. They THOUGHT we'd have enough time to get our taxes done but they were wrong.
Fortunately, we DID have enough time (barely) to find a reputable company (TCF Bank) to step in and cover the second under the same terms Les Bois CU reneged on. Amazingly, our payment terms TCF Bank were far better and the closing costs less than 50% what Les Bois was going to charge us. So, long story short, don't trust Les Bois CU. They will not honor their promise to loan you money if for any reason THEY decide to change their "risk profile".