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Refinance with NFCU

HelpMe----
Valued Member

Refinance with NFCU

I want to refinance with NFCU, unfotruantly while I am applying for the refi auto loan it says that a specific rate cannot be provided for me at this time but the the rate will fall between 1.2% to 15%........my currentl auto loan is 7%.

 

My question, when i get approved for the auto refi loan, if it has a higher APR than my current auto loan, can I cancel the refi loan, or am I now stuck with a higher monthly payment just because I applied.  This is my first time refinancing anything lol and don't know a thing, any help will be beneficial.

 

 


Starting Score: 501
Current Score: 650
Goal Score: 720


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Message 1 of 2
1 REPLY 1
SamsungHDTV
Established Contributor

Re: Refinance with NFCU


@HelpMe---- wrote:

I want to refinance with NFCU, unfotruantly while I am applying for the refi auto loan it says that a specific rate cannot be provided for me at this time but the the rate will fall between 1.2% to 15%........my currentl auto loan is 7%.

 

My question, when i get approved for the auto refi loan, if it has a higher APR than my current auto loan, can I cancel the refi loan, or am I now stuck with a higher monthly payment just because I applied.  This is my first time refinancing anything lol and don't know a thing, any help will be beneficial.

 

 


You can walk away at any point of the refinance process as long as you didn't sign closing documents. So no worries.

Message 2 of 2
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