NaviRefi is an American lender that lets you refinance your existing student loan to get a better rate. Founded in 2013, they provide a hassle-free, user-friendly application process with zero hidden fees. They offer competitive APRs starting at just 1.74% variable (including the .25% auto pay discount*) and a broad range of terms from 5 to 20 years**.
Loan Types: Both federal and private loans can be refinanced.
APRs: Variable rates between 1.74% and 7.99%, fixed rates between 2.24% and 7.99%. Rates include the .25% auto pay discount.*
Repayment Terms: 5-20 years **
Refi Amount: $5001 ($10,001 for California residents only) to $500,000
Origination Fees*** : No
NaviRefi allows you to refinance any qualifying education loan—a loan from a Title IV school—into a fixed- or variable-rate loan agreement. A 5-year** fixed-rate loan from NaviRefi will have an APR between 2.44% and 5.93% (including the .25% auto pay discount*), while a 20-year fixed-rate loan will have 4.88% to 7.99% (including the .25% auto pay discount*). NaviRefi’s variable rates are based on the Fed’s 30-day SOFR, which is subject to change on the 25th of every month.
There are no origination fees***; your only expense will be your monthly principal and interest payment. Variable-rate loans are not available in the following states: Alaska, Colorado, dConnecticut, Hawaii, Illinois, Kentucky, Massachusetts, Michigan, Minnesota, New Hampshire, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia.
In addition to the type of interest rate, you can choose the term, which is the length of time before the loan is paid back in full. NaviRefi offers customizable terms from 5 to 20 years**. . The term you choose will affect your APR, with longer terms typically having higher rates.
A sampling of NaviRefi’s current terms are detailed on the home page of their website. The standard repayment plan is monthly, but if you are experiencing difficulty in repaying the loan, you can apply for a rate reduction, payment deferment, forbearance, or loan forgiveness programs.These programs may require a review of your financial situation and ability to pay and applications are reviewed on a case-by-case basis based on financial need.
If you sign up for auto-payment*, which enables NaviRefi to automatically withdraw loan payments from your bank account on the due date, you will receive a 0.25% discount on your APR**.
Applying for a NaviRefi loan is a 3-step process.
Step 1: Submit your personal information.
Click Check Your Rate on the homepage and fill out the digital form on NaviRefi’s website with your basic personal information. The form will guide you through this process step-by-step.
NaviRefi will also request basic financial information, such as income and the name of the school you attended with your student loan. Note that you do not necessarily have to have graduated in order to be approved for a loan. Certain eligibility applies. Any school eligible for Title IV financial assistance is acceptable to NaviRefi. You can find a complete list of eligible schools on the Federal Student Aid website.
Step 2: Select your loan terms
Choose a term and select your rate type. While your actual APR will vary based on the results of your credit check, you can see the ranges of possible APRs for every term, fixed and variable, on the NaviRefi home page.
Step 3: Digitally sign your application
Sign your application to submit it for approval. NaviRefi may or may not request supporting documents, such as 3 years of relevant tax forms, to verify your income. Income types acceptable on your application include salary, wages, commissions, bonuses, earnings from self-employment, interest, dividends, investment income, alimony, social security, and disability. Note that short-term income, such as unemployment, is not acceptable.
NaviRefi will process your application and get back to you with an approval, rejection, or request for additional documents.
NaviRefi does not allow co-signing on its applications.
You can reach out to them via email. Click Email Us after logging into your NaviRefi account to send a secure email. Plus, NaviRefi has a comprehensive FAQ that can answer most common questions. You can reach the FAQ by clicking Help and Questions on the homepage.
NaviRefi is a student loan refinancing provider that you can use to refinance your existing student loan from any Title IV school, as long as the loan balance is at least $5001, with no origination fees. Loan terms range from 5 to 20 years, with fixed- and variable-rate options available. Fixed APRs range from 3.56% to 7.49%, while variable APRs range from 2.81% to 7.49%. Your actual APR will depend on your credit score and the term length you select.
Getting started with NaviRefi is easy. Simply hit Check your Rate on the homepage to begin your application process. The application will only take a few minutes of your time, and then you will be well on your way to acquiring an affordable, zero-fee student loan.
NaviRefi receives compensation from Navient on a per-funded loan basis.
*Auto Pay Disclosure
You can take advantage of the 0.25% Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction.
**NaviRefi Loan Cost Example:
This loan requires monthly, full payments of principal and interest throughout your loan term. Interest begins accruing upon disbursement of loan proceeds to your Underlying Loan Servicer. An “Underlying Loan” means an educational loan owed by you to be refinanced by the Loan. You may not defer repayment of this loan.
This informational repayment example uses typical fixed loan terms for a NaviRefi borrower with a 20-year repayment term, a $10,000 loan and a 8.45% fixed Annual Percentage Rate (APR): 240 monthly payments of $86 while in the repayment period, for total estimated payments of $20,752. This informational repayment example also uses typical variable loan terms for a NaviRefi borrower with a 20-year repayment term, a $10,000 loan and a 8.45% variable Annual Percentage Rate (APR): 240 monthly payments of $86 while in the repayment period, for total estimated payments of $20,752. Your actual repayment terms may vary
***No Fees Disclosure
We do not charge fees for origination, late payments, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
Lender Identification
NaviRefi loans are made by Earnest Operations LLC (NMLS# 1204917), a member of the Navient family of companies, subject to individual approval and underwriting criteria.
California residents only: Loans made or arranged pursuant to California Finance Lenders Law license. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit https://apply2.navirefi.com/lending-licenses for a full list of licensed states.
Navient Solutions, LLC - NMLS #212430 - 123 Justison St., Wilmington, DE 19801 - California Finance Lender (Broker) License 60DBO-107005, Maine Loan
Broker License # 212430, North Dakota Money Broker License MB1