What score model does navy federal use?

[Anonymous]

I'm looking at refinancing my auto loans. They're currently with navy but we are going to refinance them to reduce our DTI to get a mortgage. I know they love equifax, but does anyone know what model they use? My FICO 8 is a lot higher than the auto score models.

[Brian_Earl_Spilner]

I believe it's EQ9

[Anonymous]

I'm not 1000% sure, but I believe it was EQ9. I filled out an auto refinance app last night -- and had an approval at the lowest APR available for my vehicle (3.89%)-- within an hour and a half. I picked up my check at a branch this morning, and have already overnighted it to my current lender to pay it off and transfer everything over.

This was BY FAR, the smoothest, easiest financial transaction (on Navy's part...let's see what happens with the current nightmare lender -which is why I'm refi'ing in the first place) I have EVER had with a bank. I became a member this week and already have an auto loan and a More Rewards card with them (this with a tiny limit - probably should've waited, but was excited)...NFCU is fantastic. 

Supposedly, there's a $200 offer that I should see deposited into my account after my first two payments on this loan are made.  It just keeps getting better and better!

[Girlzilla88]

Awesome!

[Anonymous]

Well refinance was a success! We were able to do both vehicles. Unfortunately, our interest rates were about a point higher on each, but we were able to extend the loan term and get each payment down by about $100. So while the rate increase sucks, we accomplished our goal to reduce our DTI! We still plan to pay more than the regular payment anyways, so they'll be paid off about the same time. And after we have our mortgage and our scores are up a bit more we can refinance again if need be, so no harm no foul.