topic Re: NFCU Auto Loan debt to income ratio in Auto Loans

NFCU Auto Loan debt to income ratio

Anonymous — Sat, 17 Mar 2012 15:25:25 GMT

Does anybody know what the max debt to income ratio Navy Federal credit Union will go up to. By some quick caculations for the amount I am asking and the suspected APR based upon credit score it will put me about 33-35 % If the dont take in consideration of my BAH.

Re: NFCU Auto Loan debt to income ratio

Anonymous — Mon, 19 Mar 2012 19:57:41 GMT

NFCU is likely to consider all of your military entitlements. It will also make a difference on how long you have served and remaining service time. They are very liberal and have a lot of experience in dealing with the challenges of loans to military personnel. I would say just go for it with the application, assuming your credit profile is not totally trashed. If there is any problem with what you are asking for in terms of amount, etc. they will work with you as to what you can qualify for.

Re: NFCU Auto Loan debt to income ratio

Anonymous — Mon, 19 Mar 2012 21:27:14 GMT

I have a Rico score in the 630 to 640 range so not great but not horrid. The plus have ten years in 4 years left on contract and 12% dti right now plus large downpayment. just paid off a 30k loan on previous card asking for 25k.

Re: NFCU Auto Loan debt to income ratio

Anonymous — Mon, 19 Mar 2012 21:47:57 GMT

Depending on what you mean by a large down payment you should have no problems with NFCU. A mid to low 600 is not the best FICO score but a 20% or thereabouts down payment will cover that. And having the previous auto loan history will help. NFCU does not use Auto Enhanced scores but they will take note of the previous loan. And your time in service should also be a positive factor. I wouldn't sweat the application.

Re: NFCU Auto Loan debt to income ratio

babbles — Mon, 19 Mar 2012 21:50:36 GMT

I just posted something yesterday morning about NFCU. The dealer got me 3.04% with SunTrust, USAA had me at 3.75% on a new loan @ 72mo. , and NFCU offered 4.49%. My issue is with a score of well over 740 or so, my DTI is high because of some rental homes. At this point I don't get the low end of good rates because of it and NFCU is no exceptiion. They are good though, I just do my business more with USAA.

Re: NFCU Auto Loan debt to income ratio

Anonymous — Mon, 19 Mar 2012 21:59:50 GMT

Yes the downpayment I am looking at is about 8 grand.