Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Military Families Military Families

navy fed?

Anonymous
Posted by Anonymous
  • 15 Replies
Dh and I have been looking into refinancing... We doubt we could get lower interest in the house or cars but have a personal loan with high interest wed like to refinance at the least. We've heard USAA is hard to get personal loan through and were curious about navy fed and how they are with loans and interest rates, I know its based on credit reports and stuff but looking for ideas in general if they're easier than USAA or not... Dhs credit isn't horrible but not great (good enough to buy a house lol)
So opinions?
Posted by Anonymous on Jul. 6, 2014 at 10:53 PM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-10):
twinkersmom
by Bronze Member on Jul. 6, 2014 at 11:20 PM

We have a car loan through Navy Fed. We have insurance through USAA.

Anonymous
by Anonymous - Original Poster on Jul. 6, 2014 at 11:25 PM
We used to have insurance with USAA but canceled it about a year ago...
We heard USAA is hard for personal loans and we were denied by them for $3500 with 649 credit score :/

Quoting twinkersmom:

We have a car loan through Navy Fed. We have insurance through USAA.

twinkersmom
by Bronze Member on Jul. 6, 2014 at 11:57 PM

I don't know our exact credit score but every time we go to apply for a loan or have a credit check, they tell us that ours is really good. We just had one done two weeks ago. Hubs says it is around 780. Debt to income may be the ratio they were looking at with you. I really have no idea. That is hubs' area. That and taxes. I just do our budget and pay the bills.

Anonymous
by Anonymous - Original Poster on Jul. 7, 2014 at 12:16 AM
Possible, idt ours is too bad considering the majority is the house :/ I'm hoping this time next year well have everything paid but the house. But with the interest rate we have its making it harder to get that one loan gone :(

Quoting twinkersmom:

I don't know our exact credit score but every time we go to apply for a loan or have a credit check, they tell us that ours is really good. We just had one done two weeks ago. Hubs says it is around 780. Debt to income may be the ratio they were looking at with you. I really have no idea. That is hubs' area. That and taxes. I just do our budget and pay the bills.

darbyakeep45
by Darby on Jul. 7, 2014 at 4:31 AM

I agree here...debt to income ratio is a big factor in getting approval for personal loans.  Banks are a little more picky with personal loans than auto and other loans.  

Quoting twinkersmom:

I don't know our exact credit score but every time we go to apply for a loan or have a credit check, they tell us that ours is really good. We just had one done two weeks ago. Hubs says it is around 780. Debt to income may be the ratio they were looking at with you. I really have no idea. That is hubs' area. That and taxes. I just do our budget and pay the bills.


ReadWriteLuv
by Silver Member on Jul. 7, 2014 at 6:27 AM
1 mom liked this

I've had Navy Fed for 15 years, and I love them. 

I wouldn't say that it would be easier to get a loan through them though, especially a personal one. Personal loans are the hardest to obtain, from anyone. They'd rather loan you money for something tangible that they have come and claim should you not repay.

kmeow
by Member on Jul. 7, 2014 at 2:24 PM

We have Navy Federal and they've been MUCH better than USAA, imo. We recently refinanced our vehicle through them.

Anonymous
by Anonymous - Original Poster on Jul. 7, 2014 at 2:39 PM
Dh applied and got a credit card with them last night. Insanely high limit lol.
We have 2 cars through USAA wed considered refinancing... But idk yet

Quoting kmeow:

We have Navy Federal and they've been MUCH better than USAA, imo. We recently refinanced our vehicle through them.

gunsgirl
by Silver Member on Jul. 7, 2014 at 2:59 PM

we have gotten loans thru both USAA and NFCU- both have tightened thier loan practices-

if your credit score is less than 700 your going to have a hard time getting loans from anyone-

if your debt to income ratio is more than 40% you will have a hard time getting loans from anyone.

your best bet is to get into some debt counseling and work on paying off your "bad" debt -- or look at the dave ramsey method and again pay off your bad debt.

Anonymous
by Anonymous - Original Poster on Jul. 7, 2014 at 3:03 PM
We were trying to get lower interest on the one loan so we can get rid of it faster and apply that payment to the car. Dh applied for and got a credit card with nfcu last night so plan on paying the loan off with that. We didn't have issues getting the home loans or either car loan with under 700.
Don't really need debt counseling/financial advisor... We've talked to a financial advisor and he said everything looked fine just keep doing what were doing. :/ I have a game plan but was hoping to boost it a little further by lowering interest rate(s) to help make extra payments go further

Quoting gunsgirl:

we have gotten loans thru both USAA and NFCU- both have tightened thier loan practices-


if your credit score is less than 700 your going to have a hard time getting loans from anyone-


if your debt to income ratio is more than 40% you will have a hard time getting loans from anyone.


your best bet is to get into some debt counseling and work on paying off your "bad" debt -- or look at the dave ramsey method and again pay off your bad debt.

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)