topic Re: NFCU Refi Chances in Auto Loans

NFCU Refi Chances

Anonymous — Fri, 17 Apr 2020 03:12:59 GMT

I've tried in the past and I've been denied. Now my FICO Auto 8 is 659 EQ 654 TU 655 EX.

I'm currently paying $587 on a Jeep i got in 2017 with a pay off amount of $22k and interest at Florida's max 15%.

I've never missed a payment on the Jeep or on my Nissan that I had for 2 years. I have 1 credit card with NFCU that I've had for almost 3 years without a late payment. I just got approved for a 2nd card today with Navy and I was denied a CLOC.

Should I even try and apply for a refinance with NFCU again?

Re: NFCU Refi Chances

AllZero — Fri, 17 Apr 2020 04:15:04 GMT

@Anonymous Have you considered https://www.dcu.org ?

Re: NFCU Refi Chances

Anonymous — Fri, 17 Apr 2020 04:20:41 GMT

Your auto scores should get you in at refi, it would depend on the LTV shouldn't exceed more than 120% I believe. They will let you know if you need to put anything down to decrease LTV.

Re: NFCU Refi Chances

Anonymous — Fri, 17 Apr 2020 12:50:15 GMT

@Anonymous Does Navy use FICO Auto 8?

Re: NFCU Refi Chances

Anonymous — Fri, 17 Apr 2020 12:52:46 GMT

s@Anonymous wrote:
@Anonymous Does Navy use FICO Auto 8?

The use their own internal score, im not 100% if the score they use is the one thats on the website when you login. But it will get you an idea what they are basing your CS at.

Re: NFCU Refi Chances

Eagered2succeed — Sat, 25 Apr 2020 14:33:27 GMT

Just like @AllZero suggested I would look at DCU for refinancing. Their rates are much better than Navy and they're easier on the scoring. They also use Eq 5 which hard to find. My suggestion would be to start a savings(it's a soft pull) then sign up to recieve your Eq5 score. They usually update it at the end of the month so you will see it either in May or June. Once you know your score someone here can help you ballpark the apr you will most likely get. They are 120% LTV as well. Good luck.

Re: NFCU Refi Chances

Anonymous — Sat, 25 Apr 2020 16:29:11 GMT

@Eagered2succeed I looked into that but i don't believe i qualify to be a member.

Re: NFCU Refi Chances

Eagered2succeed — Sat, 25 Apr 2020 17:44:07 GMT

@Anonymous wrote:
@Eagered2succeed I looked into that but i don't believe i qualify to be a member.

You do. Just have to be part of an organization that qualifies. Here's the least expensive one as listed on their site. To make it even easier they will allow you to join while doing the app for membership. Super easy 😁.Screenshot_20200425-124115_Google.jpg

Re: NFCU Refi Chances

Anonymous — Sat, 25 Apr 2020 20:43:47 GMT

@Eagered2succeed What should I start with there? A regular checking account?

Re: NFCU Refi Chances

AllZero — Sat, 25 Apr 2020 21:00:25 GMT

@Anonymous I'd recommend both checking and savings. Savings is 6.17% APY up to $1,000

Re: NFCU Refi Chances

Anonymous — Sat, 25 Apr 2020 21:39:01 GMT

@AllZero dang that's better than my navy federal savings. I think the share savings is just 0.25%

Re: NFCU Refi Chances

AllZero — Sat, 25 Apr 2020 21:44:29 GMT

@Anonymous wrote:
@AllZero dang that's better than my navy federal savings. I think the share savings is just 0.25%

@Anonymous Search for HYSA High Yield Savings Accounts.

Here's another one Service Credit Union membership @Gmood1 posted great data points. Savings 5% APY up to to $500 and Holiday club account 3% APY up to $3,000.

Re: NFCU Refi Chances

Eagered2succeed — Sun, 26 Apr 2020 09:08:13 GMT

@AllZero wrote:
@Anonymous I'd recommend both checking and savings. Savings is 6.17% APY up to $1,000

Second this. It's a must to do their savings account.

Re: NFCU Refi Chances

805orbust — Mon, 27 Apr 2020 01:30:27 GMT

Did you say 6.17% on up to $1000? Is that true?

Re: NFCU Refi Chances

AllZero — Mon, 27 Apr 2020 01:33:31 GMT

@805orbust wrote:
Did you say 6.17% on up to $1000? Is that true?

@805orbust https://www.dcu.org/bank/savings/primary-savings.html

Re: NFCU Refi Chances

805orbust — Mon, 27 Apr 2020 21:58:46 GMT

Wow... crazy. Thanks for the heads up.

Re: NFCU Refi Chances

recoveringfrombk7 — Tue, 28 Apr 2020 02:22:37 GMT

@AllZero wrote:
@805orbust wrote:
Did you say 6.17% on up to $1000? Is that true?
@805orbust https://www.dcu.org/bank/savings/primary-savings.html

Same, thank you @AllZero

Re: NFCU Refi Chances

AllZero — Tue, 28 Apr 2020 02:33:08 GMT

@recoveringfrombk7 wrote:
@AllZero wrote:
@805orbust wrote:
Did you say 6.17% on up to $1000? Is that true?
@805orbust https://www.dcu.org/bank/savings/primary-savings.html
Same, thank you @AllZero

You're welcome. There is also WyHy. 3% APY checking up to $15,000. Not sure on membership requirement. Maybe hard pull TU?

https://www.wyhy.org/Rates/Deposit-Rates.aspx