![]() Navy Federal considers payments late once they are 15 days overdue. Late payment fee – fee for making a late payment.Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.Loan origination fee – fee to create the new loan.Application fee – fee to apply for rates & approval.Below is a list of these fees that Navy Federal does or does not charge. Variable rates are based on the 90-day SOFR ( 0.71% as of this writing) as published by the Federal Reserve Bank of New York two (2) business days before the quarterly adjustment date.īased on advertised rates, use the calculator below to determine what your new monthly payment and potential savings may be if you refinance with Navy Federal.īeyond interest rates, there are a number of fees a refinance lender may charge up-front or during the loan servicing period.They will conduct a hard, not soft, credit inquiry ( learn the difference). Checking your rate with Navy Federal will affect your credit score.Refinance Loan Rates TermĪdditional information about Navy Federal refinance rates: The lowest available variable rate is up 38.5% (from 1.61% APR) and the highest starting variable rate has increased just 6.1% (from 10.47% APR). In 2022, Navy Federal’s lowest available fixed rate for new loans has declined 21.7% (from 2.99% APR) while its highest fixed rate has remained the same. ![]() Note that the lowest rates always include the 0.25% interest reduction for enrolling in autopay. Variable rates are between 2.23% and 11.11%. Navy Federal Credit Union’s fixed rates are between 2.34% and 12.28%. ‡ Parent borrowers may consolidate loans for multiple children they may also refinance before their student has graduated. Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ Loan Refinancing Options Private student loans † Lowest rates always include the 0.25% interest reduction for enrolling in auto-pay. * Undergraduates may refinance up to $125,000 in student loans. Membership is open to residents of any state or Puerto Rico some, such as certain military personnel, receive exclusive perks. Navy Federal may be a good option for current members and those who would like to join the credit union.
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