Refinance

[mavado007]

Your Age:21

How long have your been on file with the CRA’s? 3yrs.

 

Credit Scores:

Equifax? 640

Experian? 640

TransUnion? 680

 

Your Credit:

Rate your OVER ALL credit from 1-10 (10=BEST)8

Rate your installment Credit from 1-10: 8

Rate your revolving Credit from 1-10: 8

 

Public Records? NOIf yes, please describe:

 

Auto Loans:

Do you have an open auto loan? YES

How many auto loans are presently open? 1

Are you trading in your open auto loan? NO

Are there late pays on your CURRENT auto loan? NO

If yes, please list the time frame.

Current open auto loan is financed with? Americredit 19.50%APR

Current open auto loan payment? $581.19

Estimated amount you may be upside down in this vehicle? $2,000

Rate this open auto loan from 1-10. 5

Credit Cards:

Total number of revolving accounts: 12

Percent utilization overall: 30%

 

Your Info:

Total Provable MONTHLY GROSS income: $2900

Provable via computerized paystubs or what method: Paystub

 

New or Used Vehicle: Used

Please describe desired vehicle: 2000 Ford Powerstroke Diesel with 92,000 current miles and 53 remaining payments out of 60.

[mixer99]

With your scores, I would try the following:

 

www.dcu.org (Digital Federal Credit Union) They pull Equifax and offer up to 120% vehicle loans and refinances.

 

www.patelco.org (Patelco Credit Union) They pull experian and offer up to 150% loans and refi's.

 

www.meadowscu.org (Meadows Federal Credit Union) They pull TransUnion for their vehicle refi's and purchases.

 

You can join any of the above with little stress IF you are approved. I see no reason to join before you are approved, and you can apply online if you wish, however, I have gotten more positive results by phone.

[MarvBear]

at 21 yrs old and NOT trading in your current loan, you may have a DTI issue.

 

Would IMO be difficult to qualify for an additional auto loan.

[mavado007]

Thanks Marv... I was wanting to refinance my current auto loan... and PAY IT OFF!!! Debt sucks! Disputing is FUN!

[MarvBear]

for best results in my opinion the loan should remain open for 12-18 months to establish a regular payment pattern before someone will give you a serious offer for refi.